Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Sep. 26, 2015
Sep. 27, 2014
Sep. 28, 2013
Cash flows from operating activities:      
Net income (loss) $ 33,015 $ 9,821 $ (900)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:      
Depreciation and amortization 33,703 35,781 32,968
Amortization of deferred financing costs 1,996 2,107 2,174
Stock-based compensation 8,315 7,678 15,892
Excess tax benefits from stock-based awards (2,154) (498) (388)
Deferred income taxes 15,566 5,548 (3,233)
Gain on sale of property and equipment 0 (4,875) 0
Loss on disposal of property, plant and equipment 702 1,063 547
Write-off of deferred financing costs 537 1,731 0
Asset impairments 7,272 5,870 7,709
Other (69) 249 370
Changes in assets and liabilities (excluding businesses acquired):      
Receivables (9,093) 2,655 8,185
Inventories 4,403 69,698 (61,697)
Prepaid expenses and other assets (4,325) (176) 2,624
Accounts payable (4,757) (16,321) (23,866)
Accrued expenses 1,485 8,442 (7,781)
Other long-term obligations 853 (2,306) (886)
Net cash provided (used) by operating activities 87,449 126,467 (28,282)
Cash flows from investing activities:      
Additions to property, plant and equipment (22,030) (17,173) (25,172)
Businesses acquired, net of cash acquired, and investments in joint ventures (38,384) (20,282) (4,835)
Proceeds from disposals of land, buildings, etc. 0 8,737 0
Change in restricted cash and cash equivalents. 1,126 (14,283) 0
Proceeds from short-term investments. 9,997 17,820 4,885
Investment in short-term investments (17) (10,000) 0
Other investing activities (546) 0 0
Net cash used in investing activities (49,854) (35,181) (25,122)
Cash flows from financing activities:      
Repayments on revolving line of credit (312,000) (301,000) (368,000)
Borrowings on revolving line of credit 312,000 278,000 391,000
Repayments of long-term debt (50,289) (367) (332)
Proceeds from issuance of common stock 200 1,165 613
Excess tax benefits from stock-based awards 2,154 498 388
Repurchase of common stock, including shares surrendered for tax withholding (18,497) (2,332) (2,731)
Distribution to noncontrolling interest (1,680) (633) (629)
Payment of financing costs (258) (3,090) 0
Net cash provided (used) by financing activities (68,370) (27,759) 20,309
Effect of exchange rate changes on cash and equivalents (317) (7) (224)
Net (decrease) increase in cash and cash equivalents (31,092) 63,520 (33,319)
Cash and cash equivalents at beginning of year 78,676 15,156 48,475
Cash and cash equivalents at end of year 47,584 78,676 15,156
Supplemental information:      
Cash paid for interest 39,855 41,549 42,960
Cash paid for income taxes - net of refunds 3,192 826 (2,493)
Non-cash investing and financing activities:      
Capital expenditures incurred but not paid 2,087 238 926
Liability for contingent performance based payments (101) 249 4,165
Restricted share stock bonus $ 0 $ 4,086 $ 9,579