XML 21 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Consolidated net income (loss) $ 1,110,468 $ 586,464 $ (200,168)
Adjustments to reconcile consolidated net income (loss) to net cash provided by operations:      
Depreciation and amortization 195,120 189,058 189,790
Amortization of stock-based compensation 36,117 35,288 41,070
Equity in (earnings) losses of affiliated companies (3,508) 531 2,765
Deferred income taxes 24,749 29,713 (50,288)
Impairments (Notes 2 and 3) 4,482 7,223 698,246
Gain on investments, net (12,833) (5,333) (11,462)
Loss on disposition of businesses, net 0 0 (21,252)
Pension settlement loss 0 0 20,111
Other 3,947 5,059 10,659
Change in assets and liabilities, net of effects of acquired and disposed businesses:      
Accounts receivable, net (2,109,159) (541,427) 338,849
Inventories (960,605) 244,325 383,058
Accounts payable 1,766,912 760,883 (521,575)
Accrued expenses 391,941 86,484 (27,475)
Other assets and liabilities (28,648) (38,425) (36,837)
Net cash provided by operating activities 418,983 1,359,843 857,995
Cash flows from investing activities:      
Cash paid on disposition of businesses 0 0 (13,094)
Acquisition of property, plant, and equipment (83,051) (123,585) (143,191)
Proceeds from sale of property, plant, and equipment 22,171 0 0
Cash paid for customer relationship intangible asset 0 (713) (7,616)
Other 762 (14,496) (9,682)
Net cash used for investing activities (60,118) (138,794) (173,583)
Cash flows from financing activities:      
Change in short-term and other borrowings 12,938 (95,017) (113,923)
Repayments of long-term bank borrowings, net (687) (411,497) (405,007)
Redemption of notes (130,860) (209,366) 0
Net proceeds from note offering 495,134 0 0
Proceeds from exercise of stock options 46,982 21,037 16,911
Repurchases of common stock (911,548) (483,735) (404,203)
Payments for (Proceeds from) Derivative Instrument, Financing Activities (24,896) 48,378 0
Other (159) (141) (147)
Net cash used for financing activities (463,304) (1,227,097) (906,369)
Effect of exchange rate changes on cash (46,982) 79,560 12,733
Net increase (decrease) in cash and cash equivalents (151,421) 73,512 (209,224)
Cash and cash equivalents at beginning of year 373,615 300,103 509,327
Cash and cash equivalents at end of year $ 222,194 $ 373,615 $ 300,103