Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Sep. 24, 2016
Sep. 26, 2015
Sep. 27, 2014
Cash flows from operating activities:      
Net income $ 45,585 $ 33,015 $ 9,821
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 40,001 33,703 35,781
Amortization of deferred financing costs 1,504 1,996 2,107
Stock-based compensation 8,356 8,315 7,678
Excess tax benefits from stock-based awards (6,869) (2,154) (498)
Deferred income taxes 3,189 15,566 5,548
Gain on sale of property and equipment (2,544) 0 (4,875)
Loss on disposal of property, plant and equipment 1,163 702 1,063
Write-off of deferred financing costs 3,337 537 1,731
Asset impairments 19,367 7,272 5,870
Other 987 (69) 249
Changes in assets and liabilities (excluding businesses acquired):      
Receivables 27,444 (9,093) 2,655
Inventories (6,519) 4,403 69,698
Prepaid expenses and other assets 6,901 (4,325) (176)
Accounts payable (2,793) (4,757) (16,321)
Accrued expenses 11,234 1,485 8,442
Other long-term obligations 1,083 853 (2,306)
Net cash provided by operating activities 151,426 87,449 126,467
Cash flows from investing activities:      
Additions to property, plant and equipment (27,622) (22,030) (17,173)
Businesses acquired, net of cash acquired, and investments in joint ventures (69,001) (38,384) (20,282)
Proceeds from disposals of real property 3,911 0 8,737
Change in restricted cash and cash equivalents. 2,247 1,126 (14,283)
Proceeds from short-term investments. 0 9,997 17,820
Investment in short-term investments 0 (17) (10,000)
Other investing activities (730) (546) 0
Net cash used in investing activities (91,195) (49,854) (35,181)
Cash flows from financing activities:      
Repayments on revolving line of credit (419,000) (312,000) (301,000)
Borrowings on revolving line of credit 419,000 312,000 278,000
Repayments of long-term debt (400,307) (50,289) (367)
Issuance of long-term debt 400,000 0 0
Proceeds from issuance of common stock 324 200 1,165
Excess tax benefits from stock-based awards 6,869 2,154 498
Repurchase of common stock, including shares surrendered for tax withholding (10,873) (18,497) (2,332)
Payments of contingent consideration (2,026) 0 0
Distribution to noncontrolling interest (592) (1,680) (633)
Payment of financing costs (7,560) (258) (3,090)
Net cash used by financing activities (14,165) (68,370) (27,759)
Effect of exchange rate changes on cash and equivalents (668) (317) (7)
Net increase (decrease) in cash and cash equivalents 45,398 (31,092) 63,520
Cash and cash equivalents at beginning of year 47,584 78,676 15,156
Cash and cash equivalents at end of year 92,982 47,584 78,676
Supplemental information:      
Cash paid for interest 32,995 39,855 41,549
Cash paid for income taxes – net of refunds 10,399 3,192 826
Non-cash investing and financing activities:      
Capital expenditures incurred but not paid 2,743 2,087 238
Liability for contingent performance based payments 2,590 (101) 249
Restricted share stock bonus $ 0 $ 0 $ 4,086