XML 17 R5.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows provided by (used in) operating activities:    
Net income $ 73,281 $ 57,600
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 60,872 51,090
Rationalization charges 10,357 2,799
Stock compensation expense 5,010 4,483
Loss on early extinguishment of debt 883 1,481
Other changes that provided (used) cash, net of effects from acquisition:    
Trade accounts receivable, net (103,549) (103,975)
Inventories (118,132) (68,965)
Trade accounts payable (59,825) (126,728)
Accrued liabilities (32,062) 20,443
Other, net (8,983) (6,364)
Net cash used in operating activities (172,148) (168,136)
Cash flows provided by (used in) investing activities:    
Purchase of business, net of cash acquired 0 (39,828)
Capital expenditures (68,764) (65,147)
Other, net 402 534
Net cash used in investing activities (68,362) (104,441)
Cash flows provided by (used in) financing activities:    
Borrowings under revolving loans 170,457 877,114
Repayments under revolving loans (31,310) (48,970)
Proceeds from issuance of long-term debt 499,725 739,661
Repayments of long-term debt (500,000) (766,170)
Changes in outstanding checks - principally vendors (84,216) (79,006)
Dividends paid on common stock (16,055) (13,771)
Debt issuance costs (4,633) (7,544)
Repurchase of common stock (8,275) (12,664)
Net cash provided by financing activities 25,693 688,650
Effect of exchange rate changes on cash and cash equivalents (4,533) (5,051)
Cash and cash equivalents:    
Net (decrease) increase (219,350) 411,022
Balance at beginning of year 409,481 203,824
Balance at end of period 190,131 614,846
Interest paid, net 31,655 23,518
Income taxes paid, net $ 15,297 $ 22,056