Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

v3.19.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Jun. 29, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 90,702 $ 113,753
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 37,311 34,872
Amortization of deferred financing costs 1,374 1,290
Stock-based compensation 10,444 8,567
Deferred income taxes 9,875 (13,447)
Loss (gain) on sale of property and equipment 58 (18)
Other (281) 2,732
Change in assets and liabilities (excluding businesses acquired):    
Accounts receivable (93,775) (101,608)
Inventories (3,850) (14,856)
Prepaid expenses and other assets (239) (14,290)
Accounts payable 19,728 (1,113)
Accrued expenses 23,268 216
Other long-term obligations (1,811) 1,664
Net cash provided by operating activities 92,804 17,762
Cash flows from investing activities:    
Additions to property and equipment (20,888) (27,003)
Payments to acquire companies, net of cash acquired (41,158) (86,777)
Investments (1,758) (8,048)
Other investing activities (1,203) (2,655)
Net cash used in investing activities (65,007) (124,483)
Cash flows from financing activities:    
Repayments of long-term debt (46,162) (395)
Proceeds from issuance of long-term debt 0 300,000
Borrowings under revolving line of credit 0 23,000
Repayments under revolving line of credit 0 (23,000)
Repurchase of common stock, including shares surrendered for tax withholding (17,796) (12,942)
Payment of contingent consideration liability (104) (204)
Distribution to noncontrolling interest (64) (1,597)
Payment of financing costs 0 (4,770)
Net cash (used) provided by financing activities (64,126) 280,092
Effect of exchange rate changes on cash and cash equivalents (120) (47)
Net increase (decrease) in cash, cash equivalents and restricted cash (36,449) 173,324
Cash, cash equivalents and restricted cash at beginning of period 493,005 45,042
Cash, cash equivalents and restricted cash at end of period 456,556 218,366
Supplemental information:    
Cash paid for interest 34,277 26,297
Cash paid for income taxes $ 12,277 $ 18,474