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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows provided by (used in) operating activities:      
Net income $ 193,814 $ 223,994 $ 269,659
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 206,483 191,737 174,062
Amortization of debt issuance costs 3,463 3,774 4,259
Rationalization charges 56,351 6,253 5,826
Stock compensation expense 17,078 14,923 14,639
Loss on early extinguishment of debt 1,676 2,493 7,052
Deferred income tax (benefit) provision (20,859) 23,740 (114,969)
Other changes that provided (used) cash, net of effects from acquisition:      
Trade accounts receivable, net 3,800 516 (37,107)
Inventories 53 20,366 (17,228)
Trade accounts payable 16,453 61,095 84,102
Accrued liabilities 13,950 3,564 4,321
Other, net 15,093 (45,935) (4,851)
Net cash provided by operating activities 507,355 506,520 389,765
Cash flows provided by (used in) investing activities:      
Purchase of business, net of cash acquired 0 0 (1,023,848)
Capital expenditures (230,944) (190,973) (174,429)
Other, net 854 1,051 600
Net cash used in investing activities (230,090) (189,922) (1,197,677)
Cash flows provided by (used in) financing activities:      
Borrowings under revolving loans 1,194,120 1,043,370 1,172,079
Repayments under revolving loans (1,292,280) (991,006) (1,316,758)
Changes in outstanding checks – principally vendors (4,664) (4,125) 8,851
Proceeds from issuance of long-term debt 400,000 0 1,789,200
Repayments of long-term debt (359,432) (286,200) (755,037)
Debt issuance costs (4,825) (3,272) (16,964)
Dividends paid on common stock (50,840) (44,549) (40,493)
Repurchase of common stock (27,604) (7,828) (4,123)
Net cash (used in) provided by financing activities (145,525) (293,610) 836,755
Effect of exchange rate changes on cash and cash equivalents (735) (3,702) 0
Cash and cash equivalents:      
Net increase 131,005 19,286 28,843
Balance at beginning of year 72,819 53,533 24,690
Balance at end of year 203,824 72,819 53,533
Interest paid, net 108,798 118,377 97,595
Income taxes paid, net of refunds $ 40,650 $ 47,172 $ 70,239