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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash from operating activities    
Net income $ 16,428 $ 21,401
Non-cash and non-operating items 32,828 24,998
- Amortization and provisions 27,044 19,644
- Net gain (loss) on disposal of non-current assets 2,266 0
- Equity awards compensation expense [1] 8,502 13,882
- Change in deferred taxes (2,678) (5,916)
- Income tax for the period (2,329) (1,934)
- Other 23 (678)
Changes in working capital related to operating activities 7,487 20,821
- Decrease in trade receivables 99,388 86,018
- (Decrease) in trade payables (81,679) (58,485)
- (Increase) in other current assets (10,398) (5,992)
- Increase/(Decrease) in other current liabilities (945) 2,436
- Change in operating lease liabilities and right of use assets 1,121 (3,156)
Cash from operating activities 56,743 67,220
Cash used for investing activities    
Acquisition of intangible assets, property, plant and equipment (11,258) (13,292)
Change in accounts payable related to intangible assets, property, plant and equipment (479) (10,392)
(Payment for) Disposal of a business, net of cash acquired (disposed) 0 (5,325)
Change in other non-current financial assets 889 (32)
Cash used for investing activities (10,848) (29,041)
Cash used for financing activities    
Repayment of borrowings (170) (172)
Proceeds from capital increase 4 11
Change in treasury stocks (18,241) 0
Change in other financial liabilities (354) (30)
Cash used for financing activities (18,761) (191)
Effect of exchange rates changes on cash and cash equivalents (9,391) (6,643)
Net increase in cash and cash equivalents 17,743 31,345
Net cash and cash equivalents at beginning of period 418,763 364,426
Net cash and cash equivalents at end of period 436,506 395,771
Supplemental disclosures of cash flow information    
Cash paid for taxes, net of refunds (12,047) (17,868)
Cash paid for interest, net of amounts capitalized $ (349) $ (407)
[1] Of which $13.5 million and $8.1 million of equity awards compensation expense consisted of share-based compensation expense according to ASC 718 Compensation - stock compensation for the quarter ended March 31, 2019 and 2020, respectively.