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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities:    
Net Income $ 139,213 $ 97,110
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 95,606 86,901
Amortization 19,622 20,334
Stock-based compensation 21,805 17,603
Provision for CECL (240) 1,089
Loss (gain) on disposition of fixed assets 5 (46)
Gain on remeasurement of equity securities (15,198) 0
Deferred income taxes (6,865) 9
Defined benefit plan expense 14,650 11,550
Equity in results of affiliates 434 1,127
Change in fair value of contingent consideration 1,950 0
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (76,735) (25,625)
Inventories (55,873) (13,241)
Prepaid and other current assets (19,793) (16,936)
Accounts payable, accrued and other liabilities 69,139 64,620
Income taxes payable (5,261) (8,446)
Retirement and deferred compensation plan liabilities (9,657) (5,916)
Other changes, net 2,779 (2,447)
Net Cash Provided by Operations 175,581 227,686
Cash Flows from Investing Activities:    
Capital expenditures (137,039) (122,986)
Proceeds from sale of property, plant and equipment 4,571 4,130
Maturity of short-term investment 243 0
Acquisition of business, net of cash acquired and release of escrow (4,834) (159,570)
Acquisition of intangible assets, net 0 (3,612)
Investment in equity securities 0 (34,044)
Notes receivable, net (29) (1,045)
Net Cash Used by Investing Activities (137,088) (317,127)
Cash Flows from Financing Activities:    
Proceeds from notes payable and overdrafts 7,410 14,464
Repayments of notes payable and overdrafts (4,615) (27,788)
Repayments and proceeds of short term revolving credit facility, net (52,000) 125,000
Proceeds from long-term obligations 7,888 1,316
Repayments of long-term obligations (7,001) (4,067)
Credit facility costs (1,718) 0
Payment of contingent consideration obligation 0 (1,500)
Dividends paid (48,415) (46,143)
Proceeds from stock option exercises 53,038 30,058
Net Cash (Used) Provided by Financing Activities (45,413) 91,340
Effect of Exchange Rate Changes on Cash (6,555) 8,522
Net (Decrease) Increase in Cash and Equivalents and Restricted Cash (13,475) 10,421
Cash and Equivalents and Restricted Cash at Beginning of Period 304,970 246,973
Cash and Equivalents and Restricted Cash at End of Period $ 291,495 $ 257,394