v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Jun. 26, 2021
Jun. 27, 2020
Cash flows from operating activities:    
Net income $ 155,995 $ 107,940
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 52,759 39,598
Amortization of deferred financing costs 1,577 1,397
Non-cash lease expense 29,914 25,893
Stock-based compensation 17,040 14,042
Debt extinguishment costs 8,577 0
Loss on sale of business 2,611 0
Deferred income taxes 6,992 5,447
Loss (gain) on sale of property and equipment 62 (5)
Write-down of investments 0 3,566
Other 2,083 3,666
Change in assets and liabilities (excluding businesses acquired):    
Accounts receivable (49,099) (203,140)
Inventories (85,382) 40,750
Prepaid expenses and other assets 33,571 1,007
Accounts payable 21,862 29,879
Accrued expenses 10,102 45,572
Other long-term obligations (640) 117
Operating lease liabilities (29,402) (26,809)
Net cash provided by operating activities 178,622 88,920
Cash flows from investing activities:    
Additions to plant, property and equipment (57,047) (26,796)
Payments to acquire companies, net of cash acquired (733,614) 0
Proceeds from the sale of business 2,400 0
Investments 0 (4,439)
Other investing activities (633) (562)
Net cash used in investing activities (788,894) (31,797)
Cash flows from financing activities:    
Repayments of long-term debt (400,072) (88)
Proceeds from issuance of long-term debt 900,000 0
Borrowings under revolving line of credit 858,000 200,000
Repayments under revolving line of credit (858,000) (200,000)
Premium paid on extinguishment of debt (6,124) 0
Repurchase of common stock, including shares surrendered for tax withholding (7,811) (57,703)
Payment of contingent consideration liability (254) (154)
Distribution to noncontrolling interest (531) (96)
Payment of financing costs (14,109) (948)
Net cash provided (used) by financing activities 471,099 (58,989)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,507 40
Net decrease in cash, cash equivalents and restricted cash (137,666) (1,826)
Cash, cash equivalents and restricted cash at beginning of period 666,397 510,701
Cash, cash equivalents and restricted cash at end of period 528,731 508,875
Supplemental information:    
Cash paid for interest 33,933 35,330
Cash paid for taxes 52,162 15,714
Operating lease right of use assets $ 63,503 $ 13,722

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