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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows provided by (used in) operating activities:      
Net income $ 276,378 $ 325,965 $ 340,848
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 275,884 263,233 262,788
Amortization of debt discount and debt issuance costs 5,472 5,365 5,457
Rationalization charges 59,481 8,412 74,081
Stock compensation expense 15,524 15,572 16,832
Loss on early extinguishment of debt 1,056 0 1,481
Deferred income tax (benefit) provision (33,055) 33,108 (32,181)
Other changes that provided (used) cash, net of effects from acquisitions:      
Trade accounts receivable, net 37,301 73,697 30,367
Inventories 57,723 (162,266) 5,797
Trade accounts payable 76,247 (3,820) 20,245
Accrued liabilities (46,819) (54,860) 42,846
Other, net (3,319) (21,810) (20,149)
Net cash provided by operating activities 721,873 482,596 748,412
Cash flows provided by (used in) investing activities:      
Purchase of businesses, net of cash acquired (921,563) 0 (2,504)
Capital expenditures (262,786) (226,810) (215,761)
Proceeds from asset sales 7,797 1,755 3,351
Other, net 258 1,242 (691)
Net cash (used in) investing activities (1,176,294) (223,813) (215,605)
Cash flows provided by (used in) financing activities:      
Borrowings under revolving loans 993,088 1,122,095 828,561
Repayments under revolving loans (1,011,203) (1,121,054) (818,551)
Repayment of principal amounts under finance leases (27,627) (2,911) (2,858)
Changes in outstanding checks – principally vendors (75,606) 99,144 (164,430)
Proceeds from issuance of long-term debt 983,588 12,305 6,042
Repayments of long-term debt (100,000) (58,083) (301,285)
Debt issuance costs (8,346) 0 0
Dividends paid on common stock (82,055) (78,894) (71,948)
Repurchase of common stock (9,317) (183,993) (45,124)
Net cash provided by (used in) financing activities 662,522 (211,391) (569,593)
Effect of exchange rate changes on cash and cash equivalents (28,170) 9,909 (9,031)
Cash and cash equivalents:      
Net increase (decrease) 179,931 57,301 (45,817)
Balance at beginning of year 642,923 585,622 631,439
Balance at end of year 822,854 642,923 585,622
Interest paid, net 160,183 155,399 123,726
Income taxes paid, net of refunds $ 91,552 $ 116,382 $ 93,864