Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
OPERATING ACTIVITIES    
Net income $ 111,276 $ 102,692
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 19,530 18,219
Stock-based compensation 13,669 7,023
Provision for doubtful accounts 828 (278)
Other 3,264 9,113
Changes in operating assets and liabilities:    
Accounts receivable 7,737 44,043
Inventories 8,444 (25,574)
Accounts payable 17,992 (11,545)
Income taxes (1,505) (22,242)
Accrued and other current liabilities (16,401) (20,665)
Other assets and liabilities (12,163) 10,890
Cash provided by operating activities 152,671 111,676
INVESTING ACTIVITIES    
Property, plant and equipment expenditures (8,122) (13,277)
Capitalized computer software (2,045) (6,756)
Other (1,265) (10)
Cash used by investing activities (11,432) (20,043)
FINANCING ACTIVITIES    
Borrowings under revolving credit facility 0 268,000
Repayments under revolving credit facility 0 (268,000)
Repayments of term loan (35,000) (5,000)
Repurchases of Common Stock (45,271) 0
Dividends paid (55,732) (53,756)
Shares withheld for taxes, net of proceeds from issuance of Common Stock (1,037) (3,057)
Other 0 (7,236)
Cash used by financing activities (137,040) (69,049)
Effect of foreign currency rate changes on cash and cash equivalents 5,047 655
Net change in cash and cash equivalents 9,246 23,239
Cash and cash equivalents – beginning of period 215,050 59,179
Cash and cash equivalents – end of period $ 224,296 $ 82,418