XML 33 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows from Operating Activities:      
Net income $ 374,178 $ 284,176 $ 239,555
Adjustments to reconcile net income to net cash provided by operations:      
Depreciation 219,667 203,873 190,132
Amortization 44,117 44,720 43,574
Stock-based compensation 47,650 41,293 40,937
Provision for CECL 1,016 8,077 3,213
(Gain) loss on disposition of fixed assets (52) (3,584) 397
Net (gain) loss on remeasurement of equity securities (1,713) (1,413) 2,110
Deferred income taxes (21,406) (19,883) (12,106)
Defined benefit plan expense 12,049 14,198 24,560
Equity in results of affiliates (87) (2,226) (467)
Impairment loss 254 257 307
Change in fair value of contingent consideration 0 0 (8,598)
Changes in balance sheet items, excluding effects from foreign currency adjustments and acquisitions:      
Accounts and other receivables (18,079) 15,431 (27,937)
Inventories 21,901 (10,641) (60,354)
Prepaid and other current assets (2,368) (3,900) (6,787)
Accounts payable, accrued and other liabilities (23,705) 14,596 55,098
Income taxes payable 4,064 (8,301) 17,081
Retirement and deferred compensation plan liabilities (14,259) 2,984 (13,093)
Other changes, net 186 (4,418) (9,005)
Net Cash Provided by Operations 643,413 575,239 478,617
Cash Flows from Investing Activities:      
Capital expenditures (276,481) (312,342) (310,427)
Proceeds from government grants 0 0 27,795
Proceeds from sale of property, plant and equipment 1,506 5,348 93
Maturity of short-term investments 0 0 740
Purchase of short-term investments (2,242) 0 0
Acquisition of business, net of cash acquired and release of escrow 0 (16,570) (4,100)
Acquisition of intangible assets, net (17,709) (6,061) (5,189)
Investment in equity securities (99,055) 0 0
Proceeds from sale of investment in equity securities 0 5,604 1,599
Notes receivable, net (2,740) (442) (6,153)
Net Cash Used by Investing Activities (396,721) (324,463) (295,642)
Cash Flows from Financing Activities:      
Proceeds from notes payable and overdrafts 22,302 25,531 39,944
Repayments of notes payable and overdrafts (23,344) (28,643) (38,837)
Proceeds and (repayments) of short term revolving credit facility, net 108,848 76,966 (143,055)
Proceeds from long-term obligations 168,581 403 412,021
Repayments of long-term obligations (373,847) (125,809) (265,085)
Payment of contingent consideration obligation 0 (22,750) 0
Dividends paid (114,055) (103,683) (99,461)
Credit facility costs 0 0 (4,009)
Proceeds from stock option exercises 54,809 53,983 28,512
Purchase of treasury stock (68,638) (47,552) (92,126)
Net Cash Used by Financing Activities (225,344) (171,554) (162,096)
Effect of Exchange Rate Changes on Cash (21,147) 2,189 (1,072)
Net Increase in Cash and Equivalents and Restricted Cash 201 81,411 19,807
Cash and Equivalents and Restricted Cash at Beginning of Period 224,143 142,732 122,925
Cash and Equivalents and Restricted Cash at End of Period 224,344 224,143 142,732
Supplemental Cash Flow Disclosure:      
Interest paid 43,520 39,599 35,509
Income taxes paid 89,374 111,994 87,529
Restricted cash included in the line item prepaid and other on the Consolidated Balance Sheets as shown below represents amounts held in escrow      
Cash and equivalents 223,844 223,643 141,732
Restricted cash included in prepaid and other 500 500 1,000
Total Cash and Equivalents and Restricted Cash shown in the Statement of Cash Flows $ 224,344 $ 224,143 $ 142,732