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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities:    
Net Income $ 137,633 $ 125,984
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 99,432 95,123
Amortization 22,094 22,094
Stock-based compensation 25,433 22,136
Provision for CECL 2,877 2,338
Gain on disposition of fixed assets (2,945) (179)
Net (gain) loss on remeasurement of equity securities (3,079) 1,733
Deferred income taxes (6,321) (5,484)
Defined benefit plan expense 7,098 12,347
Equity in results of affiliates (512) 362
Change in fair value of contingent consideration 0 (2,265)
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (28,287) (60,045)
Inventories (18,569) (49,242)
Prepaid and other current assets (32,535) (24,091)
Accounts payable, accrued and other liabilities 687 62,973
Income taxes payable (12,869) 822
Retirement and deferred compensation plan liabilities (2,812) (19,727)
Other changes, net (5,124) (8,225)
Net Cash Provided by Operations 182,201 176,654
Cash Flows from Investing Activities:    
Capital expenditures (155,012) (147,262)
Proceeds from government grants 0 12,794
Proceeds from sale of property, plant and equipment 3,542 507
Maturity of short-term investment 0 740
Purchase of short-term investments (21) 0
Acquisition of businesses, net of cash acquired and release of escrow (10,910) 0
Acquisition of intangible assets, net (1,300) 0
Proceeds from sale of investment in equity securities 0 1,088
Notes receivable, net 92 (6,992)
Net Cash Used by Investing Activities (163,609) (139,125)
Cash Flows from Financing Activities:    
Proceeds from notes payable and overdrafts 19,063 20,457
Repayments of notes payable and overdrafts (22,631) (21,010)
Proceeds and repayments of short term revolving credit facility, net 61,053 (144,345)
Proceeds from long-term obligations 261 402,244
Repayments of long-term obligations (16,338) (80,453)
Debt issuance costs 0 (4,009)
Payment of contingent consideration obligation (22,750) 0
Dividends paid (49,785) (49,827)
Proceeds from stock option exercises 24,342 11,416
Purchase of treasury stock (29,039) (53,088)
Net Cash (Used) Provided by Financing Activities (35,824) 81,385
Effect of Exchange Rate Changes on Cash (3,517) (1,365)
Net (Decrease) Increase in Cash and Equivalents and Restricted Cash (20,749) 117,549
Cash and Equivalents and Restricted Cash at Beginning of Period 142,732 122,925
Cash and Equivalents and Restricted Cash at End of Period 121,983 240,474
Cash and equivalents 120,983 240,474
Restricted cash included in prepaid and other 1,000 0
Total Cash and Equivalents and Restricted Cash shown in the Statement of Cash Flows $ 121,983 $ 240,474