XML 15 R5.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities    
Net Income $ 181,018 $ 156,014
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and goodwill and other long-lived asset impairments 121,513 201,408
Amortization of lease right-of-use asset 47,746 50,181
Net pension benefit, early retirement programs and special separation benefit expense (64,532) (73,852)
Gain on marketable equity securities and cost method investments, net (153,723) (116,533)
Gain on disposition of a business, property, plant and equipment and investments, net (7,813) (11,785)
Credit loss expense and provision for other receivables 2,672 4,312
Stock-based compensation expense, net of forfeitures 4,718 5,026
Foreign exchange loss (gain) 5,642 (1,820)
Equity in losses of affiliates, net of distributions 19,396 15,516
Provision for deferred income taxes 15,504 25,696
Accretion expense and change in fair value of contingent consideration liabilities 31 (4,301)
Change in operating assets and liabilities:    
Accounts receivable, net 11,322 12,381
Inventories (8,105) (47,164)
Accounts payable and accrued liabilities 33,619 (6,878)
Deferred revenue 30,977 48,070
Income taxes receivable/payable 34,710 16,367
Lease liabilities (47,156) (53,924)
Other assets and other liabilities, net 63,124 (13,638)
Other 13 (2,550)
Net Cash Provided by Operating Activities 290,676 202,526
Cash Flows from Investing Activities    
Purchases of property, plant and equipment (57,680) (61,156)
Proceeds from sales of marketable equity securities 23,524 61,979
Net proceeds from disposition of a business, property, plant and equipment and investments 8,342 3,712
Purchases of marketable equity securities (5,000) (6,162)
Investments in certain businesses, net of cash acquired (4,022) (77,004)
Investments in equity affiliates, cost method investments (2,188) (12,839)
Loan to related party (2,000) (30,000)
Other 3,344 2,039
Net Cash Used in Investing Activities (35,680) (119,431)
Cash Flows from Financing Activities    
Common shares repurchased (98,170) (132,248)
Net payments under revolving credit facilities (34,216) (140,000)
Dividends paid (22,926) (23,534)
Repayments of borrowings (16,053) (117,792)
Net proceeds from vehicle floor plan payable 8,443 52,623
Deferred payments of acquisition (5,390) (3,786)
Proceeds from bank overdrafts 2,378 3,824
Issuance of borrowings 0 293,387
Other (10,381) (2,179)
Net Cash Used in Financing Activities (176,315) (69,705)
Effect Of Currency Exchange Rate Change 1,652 (3,184)
Net Increase in Cash and Cash Equivalents and Restricted Cash 80,333 10,206
Beginning Cash and Cash Equivalents and Restricted Cash 201,891 190,432
Ending Cash and Cash Equivalents and Restricted Cash $ 282,224 $ 200,638