v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Mar. 26, 2022
Mar. 27, 2021
Cash flows from operating activities:    
Net income $ 79,482 $ 79,241
Adjustments to reconcile net income to net cash used by operating activities:    
Depreciation and amortization 38,449 31,769
Amortization of deferred financing costs 1,316 952
Non-cash lease expense 23,532 19,120
Stock-based compensation 11,479 10,394
Debt extinguishment costs 169 8,577
Loss on sale of business 0 2,611
Deferred income taxes 77,416 4,196
Gain on sale of property and equipment (69) (662)
Other (55) 221
Change in assets and liabilities (excluding businesses acquired):    
Accounts receivable (234,146) (191,332)
Inventories (202,996) (131,887)
Prepaid expenses and other assets (84,983) 8,585
Accounts payable 51,195 62,393
Accrued expenses (10,038) (6,119)
Other long-term obligations (64) 371
Operating lease liabilities (22,768) (18,606)
Net cash used by operating activities (272,081) (120,176)
Cash flows from investing activities:    
Additions to plant, property and equipment (75,419) (33,647)
Payments to acquire companies, net of cash acquired 0 (733,692)
Proceeds from the sale of business 0 2,400
Investments (1,918) 0
Other investing activities 100 (473)
Net cash used in investing activities (77,237) (765,412)
Cash flows from financing activities:    
Repayments of long-term debt (889) (400,048)
Proceeds from issuance of long-term debt 0 500,000
Borrowings under revolving line of credit 0 830,000
Repayments under revolving line of credit 0 (640,000)
Premium paid on extinguishment of debt 0 (6,124)
Repurchase of common stock, including shares surrendered for tax withholding (18,752) (4,454)
Payment of contingent consideration liability (125) (157)
Distribution to noncontrolling interest (806) (532)
Payment of financing costs (2,442) (8,235)
Net cash (used) provided by financing activities (23,014) 270,450
Effect of exchange rate changes on cash, cash equivalents and restricted cash (432) 1,222
Net decrease in cash, cash equivalents and restricted cash (372,764) (613,916)
Cash, cash equivalents and restricted cash at beginning of period 439,522 666,397
Cash, cash equivalents and restricted cash at end of period 66,758 52,481
Supplemental information:    
Cash paid for interest 29,042 21,857
Cash paid for taxes 24,603 37,837
New operating lease right of use assets $ 62,251 $ 38,667

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