Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
OPERATING ACTIVITIES    
Net income $ 162,223 $ 193,888
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 27,405 27,827
Stock-based compensation 9,017 17,758
Provision for doubtful accounts 87 2,202
Other 10,331 8,536
Changes in operating assets and liabilities:    
Accounts receivable (10,660) 37,673
Inventories (6,354) (323,449)
Accounts payable (23,145) 98,556
Income taxes (24,064) (11,682)
Accrued liabilities (10,170) (33,473)
Other assets and liabilities 12,856 (5,107)
Cash provided by operating activities 147,526 12,729
INVESTING ACTIVITIES    
Property, plant and equipment expenditures (21,553) (13,091)
Capitalized computer software (8,940) (7,633)
Other (837) (990)
Cash used by investing activities (31,330) (21,714)
FINANCING ACTIVITIES    
Borrowings under revolving credit facility 288,000 76,000
Repayments under revolving credit facility (288,000) (36,000)
Repayments of term loan (7,500) 0
Repurchases of Common Stock 0 (62,494)
Dividends paid (80,719) (77,021)
Shares withheld for taxes, net of proceeds from issuance of Common Stock (2,506) (12,643)
Other (7,297) 7,002
Cash used by financing activities (98,022) (105,156)
Effect of foreign currency rate changes on cash and cash equivalents 475 (13,128)
Net change in cash and cash equivalents 18,649 (127,269)
Cash and cash equivalents – beginning of period 59,179 185,322
Cash and cash equivalents – end of period $ 77,828 $ 58,053