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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 181,425 $ 173,258
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain (Loss) on Disposition of Property Plant Equipment (280) (436)
Depreciation and amortization 41,279 38,559
Noncash lease expense 9,618 7,874
Release of acquisition related tax and legal contingency 0 (1,810)
Loss in equity method investment, before tax 1,497 538
Deferred income taxes (3,365) (5,318)
Noncash compensation related to stock plans and other changes in the fair value of DCP 13,068 10,427
Provision (recovery) for credit losses 837 (1,008)
Deferred hedge gain (2,604) (1,649)
Changes in operating assets and liabilities    
Trade accounts receivable (120,824) (95,704)
Inventories 26,146 11,703
Trade accounts payable (2,533) 3,906
Other current assets (6,897) (19,284)
Accrued liabilities and other current liabilities 3,430 5,137
Other noncurrent assets and liabilities (8,019) (7,107)
Net cash provided by operating activities 132,778 119,086
Cash flows from investing activities    
Capital expenditures (88,069) (79,622)
Payments to Acquire Businesses, Net of Cash Acquired 0 (16,750)
Purchases of equity investments (3,116) (1,101)
Proceeds from sale of property and equipment 617 1,787
Net cash used in investing activities (90,568) (95,686)
Cash flows from financing activities    
Repurchase of common stock (60,000) (50,000)
Issuance of common stock 3,526 0
Proceeds from line of credits 27,326 1,265
Repayments of line of credit and term loan (38,392) (13,942)
Dividends paid (23,488) (22,889)
Cash paid on behalf of employees for shares withheld (4,589) (7,547)
Net cash used in financing activities (95,617) (93,113)
Effect of exchange rate changes on cash and cash equivalents 4,436 (5,258)
Net decrease in cash and cash equivalents (48,971) (74,971)
Cash and cash equivalents at beginning of period 239,371 429,822
Cash and cash equivalents at end of period 190,400 354,851
Noncash activity during the period    
Noncash capital expenditures 3,759 6,093
Dividends declared but not paid 12,130 $ 11,804
Issuance of Company’s common stock for compensation $ 3,526