Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jul. 01, 2023
Jun. 25, 2022
Cash flows from operating activities:    
Net (loss) income $ (4,587) $ 6,929
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 61,655 58,513
Deferred income taxes (5,232) 8,230
Deferred financing and original issue discount amortization 2,663 2,598
Stock-based compensation expense 6,044 8,304
Loss on disposal of property and equipment 123 0
Change in fair value of contingent consideration 4,167 (3,645)
Changes in operating items:    
Accounts receivable, net (43,458) (25,163)
Inventories, net 62,208 (42,973)
Other assets (4,514) (4,125)
Accounts payable 43,845 1,502
Other accrued liabilities (7,868) 4,603
Net cash provided by operating activities 115,046 14,773
Cash flows from investing activities:    
Acquisition of business, net of cash received (300) (2,500)
Capital expenditures (37,029) (28,921)
Other investing activities (225) 0
Net cash used for investing activities (37,554) (31,421)
Cash flows from financing activities:    
Repayments of senior term loans (4,255) (4,256)
Borrowings on revolving credit loans 58,000 121,000
Repayments of revolving credit loans (122,000) (97,000)
Principal payments under finance lease obligations (1,039) (556)
Proceeds from exercise of stock options 611 1,149
Payments of contingent consideration (1,125) (103)
Other financing activities (155) 0
Cash payments related to hedging activities 0 (944)
Net cash (used for) provided by financing activities (69,963) 19,290
Effect of exchange rate changes on cash (954) 476
Net increase in cash and cash equivalents 6,575 3,118
Cash and cash equivalents at beginning of period 31,081 14,605
Cash and cash equivalents at end of period 37,656 17,723
Supplemental disclosure of cash flow information:    
Income taxes paid 1,568 1,851
All Debt Excluding 11.6% Subordinated Debentures    
Supplemental disclosure of cash flow information:    
Interest paid $ 29,975 $ 20,062