Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.20.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Sep. 29, 2018
Cash flows from operating activities:      
Net income $ 121,520 $ 92,647 $ 124,120
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 55,359 50,828 47,199
Amortization of deferred financing costs 1,873 1,832 1,748
Non-cash lease expense 35,025    
Stock-based compensation 18,982 14,662 11,602
Deferred income taxes (6,615) 6,659 (4,833)
Loss on disposal of property, plant and equipment 1,171 730 273
Asset impairments 3,566 0 0
Other 4,675 (570) 1,840
Changes in assets and liabilities (excluding businesses acquired):      
Receivables (91,470) 1,485 (28,741)
Inventories 27,351 (3,696) (15,087)
Prepaid expenses and other assets 4,683 (2,643) (3,803)
Accounts payable 52,047 30,473 (1,163)
Accrued expenses 72,278 12,261 (20,096)
Other long-term obligations (83) 306 1,053
Operating lease liabilities (36,089)    
Net cash provided by operating activities 264,273 204,974 114,112
Cash flows from investing activities:      
Additions to property, plant and equipment (43,055) (31,577) (37,845)
Businesses acquired, net of cash acquired 0 (41,161) (91,244)
Payments for investments (4,439) (2,010) (9,048)
Other investing activities (612) (1,515) (2,745)
Net cash used in investing activities (48,106) (76,263) (140,882)
Cash flows from financing activities:      
Repayments on revolving line of credit (200,000) 0 (23,000)
Borrowings on revolving line of credit 200,000 0 23,000
Repayments of long-term debt (113) (46,193) (431)
Issuance of long-term debt 0 0 300,000
Proceeds from issuance of common stock, net of offering costs 0 0 195,631
Repurchase of common stock, including shares surrendered for tax withholding (59,129) (62,974) (13,797)
Payments of contingent consideration (227) (170) (253)
Distribution to noncontrolling interest (143) (76) (1,597)
Payment of financing costs (948) (1,352) (4,770)
Net cash (used in) provided by financing activities (60,560) (110,765) 474,783
Effect of exchange rate changes on cash and cash equivalents 89 (250) (50)
Net increase in cash, cash equivalents and restricted cash 155,696 17,696 447,963
Cash, cash equivalents and restricted cash at beginning of year 510,701 493,005 45,042
Cash, cash equivalents and restricted cash at end of year 666,397 510,701 493,005
Supplemental information:      
Cash paid for interest 43,892 42,702 36,664
Cash paid for income taxes – net of refunds 25,537 14,958 19,508
Non-cash investing and financing activities:      
Capital expenditures incurred but not paid 6,260 2,630 2,386
Liability for contingent performance-based payments 227 (685) (2,888)
Shares of common stock repurchased but not settled 0 $ 458 $ 0
Operating lease right of use assets recognized at ASC 842 transition 111,298    
Operating lease liabilities recognized at ASC 842 transition 115,376    
Operating lease right of use assets recognized after ASC 842 transition $ 39,605