Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Sep. 30, 2017
Sep. 24, 2016
Sep. 26, 2015
Cash flows from operating activities:      
Net income $ 79,730 $ 45,585 $ 33,015
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 42,719 40,001 33,703
Amortization of deferred financing costs 1,361 1,504 1,996
Stock-based compensation 11,115 8,356 8,315
Excess tax benefits from stock-based awards (19,946) (6,869) (2,154)
Deferred income taxes 10,789 3,189 15,566
Gain on sale of property and equipment (2,050) (2,544) 0
Loss on disposal of property, plant and equipment 65 1,163 702
Write-off of deferred financing costs 0 3,337 537
Asset impairments 0 19,367 7,272
Other 3,999 987 (69)
Changes in assets and liabilities (excluding businesses acquired):      
Receivables (32,419) 27,444 (9,093)
Inventories (15,885) (6,519) 4,403
Prepaid expenses and other assets 2,845 6,901 (4,325)
Accounts payable (2,143) (2,793) (4,757)
Accrued expenses 35,018 11,234 1,485
Other long-term obligations (889) 1,083 853
Net cash provided by operating activities 114,309 151,426 87,449
Cash flows from investing activities:      
Additions to property, plant and equipment (44,659) (27,622) (22,030)
Businesses acquired, net of cash acquired (103,880) (69,001) (38,384)
Escrow deposit for acquisition-related contingent consideration (6,000) 0 0
Proceeds from asset sales 8,547 3,911 0
Change in restricted cash and cash equivalents. (1,735) 2,247 1,126
Investment in equity method investees (12,495) 0 0
Proceeds from short-term investments. 0 0 9,997
Investment in short-term investments 0 0 (17)
Other investing activities (4,355) (730) (546)
Net cash used in investing activities (164,577) (91,195) (49,854)
Cash flows from financing activities:      
Repayments on revolving line of credit (552,000) (419,000) (312,000)
Borrowings on revolving line of credit 552,000 419,000 312,000
Repayments of long-term debt (463) (400,307) (50,289)
Issuance of long-term debt 0 400,000 0
Proceeds from issuance of common stock 0 324 200
Excess tax benefits from stock-based awards 19,946 6,869 2,154
Repurchase of common stock, including shares surrendered for tax withholding (27,556) (10,873) (18,497)
Payments of contingent consideration (1,300) (2,026) 0
Distribution to noncontrolling interest (1,019) (592) (1,680)
Payment of financing costs 0 (7,560) (258)
Net cash used by financing activities (10,392) (14,165) (68,370)
Effect of exchange rate changes on cash and equivalents 75 (668) (317)
Net (decrease) increase in cash and cash equivalents (60,585) 45,398 (31,092)
Cash and cash equivalents at beginning of year 92,982 47,584 78,676
Cash and cash equivalents at end of year 32,397 92,982 47,584
Supplemental information:      
Cash paid for interest 27,878 32,995 39,855
Cash paid for income taxes – net of refunds 10,560 10,399 3,192
Non-cash investing and financing activities:      
Capital expenditures incurred but not paid 3,106 2,743 2,087
Liability for contingent performance based payments $ 2,830 $ 2,590 $ (101)