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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash Flows From Operating Activities    
Net income [1],[2] $ 24,978 $ 31,945 [3]
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,403 19,948
Deferred compensation 7,473 1,614
Realized and unrealized gains on long-term investments (2,404) (97)
Stock-based compensation 2,596 2,232
Deferred income taxes [1] (1,857) 756
Other non-cash items 1,443 31
Changes in assets and liabilities:    
Receivables, net (17,434) (24,225)
Inventories [1] 16,231 (10,621)
Other current assets (3,247) (684)
Accounts payable and accrued liabilities (42,279) (19,518)
Pension liabilities (392) (116)
Environmental and legal liabilities 6 (225)
Deferred revenues (81) (81)
Net Cash Provided By Operating Activities 4,436 959
Cash Flows From Investing Activities    
Expenditures for property, plant and equipment (25,741) (27,358)
Business acquisition (Note 18)   (21,475)
Other, net 2,037 1,781
Net Cash Used In Investing Activities (23,704) (47,052)
Cash Flows From Financing Activities    
Revolving debt and bank overdrafts, net (4,230) 79
Dividends paid (5,643) (5,092)
Company stock repurchased (77) (2,500)
Stock option exercises 1,890 3,155
Other, net (2,718) (4,395)
Net Cash Used In Financing Activities (10,778) (8,753)
Effect of Exchange Rate Changes on Cash (689) 533
Net Decrease in Cash and Cash Equivalents (30,735) (54,313)
Cash and Cash Equivalents at Beginning of Period 300,194 298,894
Cash and Cash Equivalents at End of Period 269,459 244,581
Supplemental Cash Flow Information    
Cash payments of income taxes, net of refunds/payments 3,018 3,345
Cash payments of interest $ 2,131 $ 2,071
[1] The 2018 amounts for the noted line items have been changed from the amounts originally reported as a result of the Company’s first quarter 2019 change in method of accounting for U.S. inventory valuation from LIFO to FIFO.
[2] The 2018 amounts for the noted line items have been changed from the amounts originally reported as a result of the Company’s first quarter 2019 change in method of accounting for U.S. inventory valuation from the last in, first out (LIFO) basis to the first in, first out (FIFO) basis.
[3] The retained earnings and net income amounts for the noted line items have been changed from the amounts originally reported as a result of the Company’s first quarter 2019 change in method of accounting for U.S. inventory valuation from LIFO to FIFO.