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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities:    
Net Income $ 173,391 $ 137,633
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 107,643 99,432
Amortization 21,674 22,094
Stock-based compensation 27,553 25,433
(Release) provision for CECL (1,997) 2,877
Loss (gain) on disposition of fixed assets 126 (2,945)
Net gain on remeasurement of equity securities (452) (3,079)
Deferred income taxes (8,139) (6,321)
Defined benefit plan expense 7,407 7,098
Equity in results of affiliates 91 (512)
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (78,360) (28,287)
Inventories 13,713 (18,569)
Prepaid and other current assets (13,797) (32,535)
Accounts payable, accrued and other liabilities 2,909 687
Income taxes payable (1,248) (12,869)
Retirement and deferred compensation plan liabilities (10,167) (2,812)
Other changes, net (4,435) (5,124)
Net Cash Provided by Operations 235,912 182,201
Cash Flows from Investing Activities:    
Capital expenditures (143,866) (155,012)
Proceeds from sale of property, plant and equipment 1,020 3,542
Purchase of short-term investments (2,242) (21)
Acquisition of businesses, net of cash acquired and release of escrow 0 (10,910)
Acquisition of intangible assets, net 0 (1,300)
Notes receivable, net 102 92
Net Cash Used by Investing Activities (144,986) (163,609)
Cash Flows from Financing Activities:    
Proceeds from notes payable and overdrafts 14,178 19,063
Repayments of notes payable and overdrafts (8,841) (22,631)
Proceeds and (repayments) of short term revolving credit facility, net 49,338 61,053
Proceeds from long-term obligations 3,062 261
Repayments of long-term obligations (103,177) (16,338)
Payment of contingent consideration obligation 0 (22,750)
Dividends paid (54,232) (49,785)
Proceeds from stock option exercises 27,797 24,342
Purchase of treasury stock (17,134) (29,039)
Net Cash Used by Financing Activities (89,009) (35,824)
Effect of Exchange Rate Changes on Cash (4,068) (3,517)
Net Decrease in Cash and Equivalents and Restricted Cash (2,151) (20,749)
Cash and Equivalents and Restricted Cash at Beginning of Period 223,643 142,732
Cash and Equivalents and Restricted Cash at End of Period 221,492 121,983
Cash and equivalents 221,492 120,983
Restricted cash included in prepaid and other 0 1,000
Total Cash and Equivalents and Restricted Cash shown in the Statement of Cash Flows $ 221,492 $ 121,983