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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income $ 276,389 $ 196,650
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss/(gain) on sale of assets and other (1,227) (38)
Depreciation and amortization 44,521 33,192
Noncash lease expense 7,982 7,237
Inventory step-up expense 12,151 0
(Gain) Loss in equity method investment, before tax (229) 2,289
Deferred income taxes (13,156) 1,197
Noncash compensation related to stock plans 12,986 13,391
Provision for doubtful accounts 1,146 74
Deferred hedge gain (1,571) 0
Changes in operating assets and liabilities (net of amounts acquired from ETANCO. see Note 3)    
Trade accounts receivable (55,037) (73,219)
Inventories (27,732) (104,223)
Trade accounts payable 4,960 15,527
Other current assets (5,711) (11,272)
Accrued liabilities and other current liabilities 25,283 45,924
Other noncurrent assets and liabilities (17,359) (4,631)
Net cash provided by operating activities 263,396 122,098
Cash flows from investing activities    
Capital expenditures (41,571) (31,285)
Acquisitions, net of cash (see Note 3) (806,544) (218)
Equity method investments (2,768) (9,829)
Proceeds from sale of property and equipment 1,834 132
Terminated forward contract 3,535 0
Net cash used in investing activities (845,514) (41,200)
Cash flows from financing activities    
Termination of cash flow hedge 21,252 0
Repurchase of common stock (74,562) (24,125)
Proceeds from borrowing under lines of credit and term loan 716,721 8,530
Repayments of lines of credit and capital leases (27,816) (8,632)
Debt issuance costs (6,804) (819)
Dividends paid (32,819) (30,815)
Cash paid on behalf of employees for shares withheld (9,523) (5,397)
Net cash provided by (used in) financing activities 586,449 (61,258)
Effect of exchange rate changes on cash and cash equivalents 3,776 (99)
Net increase in cash and cash equivalents 8,107 19,541
Cash and cash equivalents at beginning of period 301,155 274,639
Cash and cash equivalents at end of period 309,262 294,180
Noncash activity during the period    
Noncash capital expenditures 681 550
Dividends declared but not paid 11,223 10,847
Issuance of Company’s common stock for compensation $ 960 $ 692