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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 76,774 $ 104,947
Adjustments to reconcile net income to cash (used in) provided by operating activities    
Depreciation and amortization 31,058 31,188
Unrealized foreign exchange (gains) losses (518) 2,615
Amortization of debt issuance costs 961 1,107
Share-based compensation 10,077 7,991
Loss on disposals of property, plant and equipment 2 8
Deferred income taxes 1,739 14,699
Changes in operating assets and liabilities    
Accounts receivable (49,494) (88,036)
Inventories 79,751 22,887
Accounts payable (5,197) 2,277
Accrued taxes (5,453) (10,543)
Other assets and liabilities 27,411 5,791
Cash flows provided by operating activities 167,111 94,931
Cash flows from investing activities    
Additions to property, plant and equipment (15,387) (18,166)
Business acquisitions, net of cash acquired 0 (28,104)
Cash flows used in investing activities (15,387) (46,270)
Cash flows from financing activities    
(Repayments of) proceeds from short-term borrowings, net (14,232) 59,614
Repayments of term loan facility (13,125) (21,094)
Repayments of delayed draw term loan A facility 0 (5,625)
Purchases of common stock (6,976) (10,409)
Debt issuance costs (966) 0
Dividends paid on common stock (34,550) (32,967)
Dividends paid to noncontrolling interests (4,302) (3,353)
Payment of employee restricted stock tax withholdings (496) (10,924)
Cash flows used in financing activities (74,647) (24,758)
Effect of foreign exchange rate changes on cash and restricted cash 1,342 (710)
Net increase in cash and restricted cash 78,419 23,193
Cash and restricted cash, beginning of year 34,184 31,014
Cash and restricted cash, end of period 112,603 54,207
Supplemental information    
Non-cash additions to property, plant and equipment 446 1,962
Non-cash additions to right-of-use assets obtained in exchange for operating lease obligations 7,107 5,351
Non-cash additions to right-of-use assets obtained in exchange for finance lease obligations 427 0
Dividend equivalents rights ("DERs") declared not paid 750 580
Share repurchase liability (Note 9) 6,976 10,409
Non-cash loan to noncontrolling interest (Note 1) $ 0 $ 4,392