Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.19.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Sep. 28, 2019
Sep. 29, 2018
Sep. 30, 2017
Cash flows from operating activities:      
Net income $ 92,647 $ 124,120 $ 79,730
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 50,828 47,199 42,719
Amortization of deferred financing costs 1,832 1,748 1,361
Stock-based compensation 14,662 11,602 11,115
Excess tax benefits from stock-based awards 0 0 (19,946)
Deferred income taxes 6,659 (4,833) 10,789
Gain on sale of property and equipment 0 0 (2,050)
Loss on disposal of property, plant and equipment 730 273 65
Other (570) 1,840 3,999
Changes in assets and liabilities (excluding businesses acquired):      
Receivables 1,485 (28,741) (32,419)
Inventories (3,696) (15,087) (15,885)
Prepaid expenses and other assets (2,643) (3,803) 2,845
Accounts payable 30,473 (1,163) (2,143)
Accrued expenses 12,261 (20,096) 35,018
Other long-term obligations 306 1,053 (889)
Net cash provided by operating activities 204,974 114,112 114,309
Cash flows from investing activities:      
Additions to property, plant and equipment (31,577) (37,845) (44,659)
Businesses acquired, net of cash acquired (41,161) (91,244) (103,880)
Escrow deposit for acquisition-related contingent consideration 0 0 (6,000)
Proceeds from asset sales 0 0 8,547
Payments for investments (2,010) (9,048) (12,495)
Other investing activities (1,515) (2,745) (4,355)
Net cash used in investing activities (76,263) (140,882) (162,842)
Cash flows from financing activities:      
Repayments on revolving line of credit 0 (23,000) (552,000)
Borrowings on revolving line of credit 0 23,000 552,000
Repayments of long-term debt (46,193) (431) (463)
Issuance of long-term debt 0 300,000 0
Proceeds from issuance of common stock, net of offering costs 0 195,631 0
Excess tax benefits from stock-based awards 0 0 19,946
Repurchase of common stock, including shares surrendered for tax withholding (62,974) (13,797) (27,556)
Payments of contingent consideration (170) (253) (1,300)
Distribution to noncontrolling interest (76) (1,597) (1,019)
Payment of financing costs (1,352) (4,770) 0
Net cash (used in) provided by financing activities (110,765) 474,783 (10,392)
Effect of exchange rate changes on cash and cash equivalents (250) (50) 75
Net increase (decrease) in cash, cash equivalents and restricted cash 17,696 447,963 (58,850)
Cash, cash equivalents and restricted cash at beginning of year 493,005 45,042 103,892
Cash, cash equivalents and restricted cash at end of year 510,701 493,005 45,042
Supplemental information:      
Cash paid for interest 42,702 36,664 27,878
Cash paid for income taxes – net of refunds 14,958 19,508 10,560
Non-cash investing and financing activities:      
Capital expenditures incurred but not paid 2,630 2,386 3,106
Liability for contingent performance-based payments (685) (2,888) 2,830
Shares of common stock repurchased but not settled $ 458 $ 0 $ 0