XML 16 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities    
Net Income $ 63,025,000 $ 181,862,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and goodwill and other long-lived asset impairments 130,568,000 83,335,000
Amortization of lease right-of-use asset 70,214,000 61,797,000
Net pension benefit and special separation benefit expense (27,669,000) (33,061,000)
Gain on marketable equity securities and cost method investments, net (493,000) (54,341,000)
Gain on disposition of businesses, property, plant and equipment and investments, net (5,918,000) (28,871,000)
Provision for doubtful trade receivables 8,200,000 500,000
Provision for doubtful trade and other receivables 8,229,000 21,532,000
Stock-based compensation expense, net 4,758,000 4,752,000
Foreign exchange gain (877,000) (1,284,000)
Write-down of cost method investments 2,577,000 0
Equity in losses (earnings) of affiliates, net of distributions 2,784,000 (3,882,000)
(Benefit from) provision for deferred income taxes (733,000) 26,310,000
Change in operating assets and liabilities:    
Accounts receivable, net 139,306,000 (47,308,000)
Inventories 51,000 (11,969,000)
Accounts payable and accrued liabilities (65,708,000) (60,708,000)
Deferred revenue (26,094,000) 24,920,000
Income taxes receivable (190,000) 5,526,000
Other assets and other liabilities, net (50,508,000) (96,913,000)
Other 145,000 587,000
Net Cash Provided by Operating Activities 240,890,000 72,284,000
Cash Flows from Investing Activities    
Proceeds from sales of marketable equity securities 93,775,000 17,586,000
Purchases of property, plant and equipment (56,121,000) (75,712,000)
Investments in certain businesses, net of cash acquired (20,080,000) (162,060,000)
Investments in equity affiliates, cost method and other investments (8,298,000) (25,836,000)
Net proceeds from disposition of businesses, property, plant and equipment, investments and other assets 1,570,000 53,785,000
Return of investment in equity affiliates 314,000 786,000
Purchases of marketable equity securities 0 (7,499,000)
Loan to related party 0 (3,500,000)
Other 1,562,000 0
Net Cash Provided by (Used in) Investing Activities 12,722,000 (202,450,000)
Cash Flows from Financing Activities    
Common shares repurchased (123,155,000) 0
Net borrowing under revolving credit facilities 75,905,000 5,000,000
Repayments of borrowings (75,841,000) (7,901,000)
Dividends paid (22,870,000) (22,167,000)
Net (payments) proceeds from vehicle floor plan payable (16,300,000) 15,106,000
Proceeds from exercise of stock options 5,335,000 0
Deferred payments of acquisition (5,010,000) 0
Proceeds from (repayments of) bank overdrafts 6,454,000 (2,611,000)
Issuance of borrowings 2,084,000 30,000,000
Issuance of noncontrolling interest 0 6,536,000
Other (276,000) 1,672,000
Net Cash (Used in) Provided by Financing Activities (153,674,000) 25,635,000
Effect Of Currency Exchange Rate Change (2,729,000) (2,177,000)
Net Increase (Decrease) in Cash and Cash Equivalents and Restricted Cash 97,209,000 (106,708,000)
Beginning Cash and Cash Equivalents and Restricted Cash 214,044,000 264,115,000
Ending Cash and Cash Equivalents and Restricted Cash $ 311,253,000 $ 157,407,000