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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows provided by (used in) operating activities:    
Net income $ 231,314 $ 261,536
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 198,648 196,722
Amortization of debt discount and debt issuance costs 4,043 4,025
Rationalization charges 38,033 13,212
Stock compensation expense 11,727 11,348
Other changes that provided (used) cash:    
Trade accounts receivable, net (614,632) (638,282)
Inventories 160,756 (152,891)
Trade accounts payable (213,088) (233,724)
Accrued liabilities (6,978) (31,055)
Other, net (23,711) (26,933)
Net cash (used in) operating activities (213,888) (596,042)
Cash flows provided by (used in) investing activities:    
Capital expenditures (192,035) (173,453)
Proceeds from asset sales 3,221 1,628
Other, net (293) 1,267
Net cash (used in) investing activities (189,107) (170,558)
Cash flows provided by (used in) financing activities:    
Borrowings under revolving loans 802,389 1,119,960
Repayments under revolving loans (310,827) (281,067)
Repayment of principal amounts under finance leases (27,281) (2,208)
Proceeds from issuance of long-term debt 0 8,649
Repayments of long-term debt (100,000) (52,650)
Changes in outstanding checks - principally vendors (160,576) (61,433)
Dividends paid on common stock (61,754) (59,712)
Repurchase of common stock (7,735) (183,939)
Net cash provided by financing activities 134,216 487,600
Effect of exchange rate changes on cash and cash equivalents (5,637) 502
Cash and cash equivalents:    
Net (decrease) (274,416) (278,498)
Balance at beginning of year 642,923 585,622
Balance at end of period 368,507 307,124
Interest paid, net 133,411 123,944
Income taxes paid, net $ 69,748 $ 95,911