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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 261,883 $ 225,123
Adjustments to reconcile Net income to Net cash provided by operating activities:    
Rationalization and asset impairment net charges 675 23,751
Depreciation and amortization 48,246 42,451
Deferred income taxes (26,342) (3,864)
Stock-based compensation 12,277 18,379
Other, net (854) 2,020
Changes in operating assets and liabilities, net of effects from acquisitions:    
Increase in accounts receivable (52,208) (14,484)
Increase in inventories (47,648) (27,626)
Increase in other current assets (3,408) (5,153)
Increase in trade accounts payable 68,092 28,956
Increase (decrease) in other current liabilities 68,579 (5,092)
Net change in other assets and liabilities 229 19,520
NET CASH PROVIDED BY OPERATING ACTIVITIES 329,521 303,981
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (52,392) (49,395)
Acquisition of businesses, net of cash acquired (32,309) (152,654)
Proceeds from sale of property, plant and equipment 5,231 1,303
NET CASH USED BY INVESTING ACTIVITIES (79,470) (200,746)
CASH FLOWS FROM FINANCING ACTIVITIES    
Payments on short-term borrowings (5,206) (578)
Proceeds from long-term borrowings 0 400,000
Payments on long-term borrowings (169) (400,339)
Proceeds from exercise of stock options 6,394 24,981
Purchase of shares for treasury (233,824) (160,820)
Cash dividends paid to shareholders (84,904) (81,696)
NET CASH USED BY FINANCING ACTIVITIES (317,709) (218,452)
Effect of exchange rate changes on Cash and cash equivalents (10,123) (5,898)
DECREASE IN CASH AND CASH EQUIVALENTS (77,781) (121,115)
Cash and cash equivalents at beginning of period 377,262 393,787
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 299,481 $ 272,672