XML 31 R7.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities:    
Net Income $ 62,371 $ 83,939
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 47,638 47,627
Amortization 11,027 9,811
Stock-based compensation 13,362 11,489
Provision for CECL 1,393 342
(Gain) loss on disposition of fixed assets (182) 91
Net loss (gain) on remeasurement of equity securities 1,250 (16,809)
Deferred income taxes (2,859) (3,580)
Defined benefit plan expense 6,225 7,475
Equity in results of affiliates 86 515
Change in fair value of contingent consideration (1,050) 975
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (28,977) (70,194)
Inventories (21,758) (26,428)
Prepaid and other current assets (10,629) (16,995)
Accounts payable, accrued and other liabilities 32,012 49,764
Income taxes payable 1,697 (3,121)
Retirement and deferred compensation plan liabilities (19,913) (5,156)
Other changes, net 384 2,440
Net Cash Provided by Operations 92,077 72,185
Cash Flows from Investing Activities:    
Capital expenditures (73,058) (63,884)
Proceeds from government grants 7,955 0
Proceeds from sale of property, plant and equipment 446 318
Maturity of short-term investment 24 243
Proceeds from sale of investment in equity securities 1,088 0
Notes receivable, net (4,876) (593)
Net Cash Used by Investing Activities (68,421) (63,916)
Cash Flows from Financing Activities:    
Proceeds from notes payable and overdrafts 9,172 4,019
Repayments of notes payable and overdrafts (11,293) (3,180)
Repayments and proceeds of short term revolving credit facility, net (144,345) (52,000)
Proceeds from long-term obligations 402,153 2,053
Repayments of long-term obligations (2,795) (4,337)
Debt issuance costs (3,766) 0
Dividends paid (24,912) (23,441)
Proceeds from stock option exercises 3,688 31,871
Purchase of treasury stock (15,983) 0
Net Cash Provided (Used) by Financing Activities 211,919 (45,015)
Effect of Exchange Rate Changes on Cash (2,871) (8,539)
Net Increase (Decrease) in Cash and Equivalents and Restricted Cash 232,704 (45,285)
Cash and Equivalents and Restricted Cash at Beginning of Period 122,925 304,970
Cash and Equivalents and Restricted Cash at End of Period $ 355,629 $ 259,685