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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 of continuing operations:      
Net income $ 69,675 $ 356,328 $ 363,139
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss (income) from discontinued operations 487 1,244 (223)
Depreciation expense 76,932 68,144 66,502
Intangible asset amortization expense 197,669 173,974 164,088
Deferred financing costs and debt discount amortization expense 3,415 3,400 4,053
Loss on extinguishment of debt 0 0 454
Pension settlement charge 132,732 45,244 0
Fair value step up of acquired inventory sold 1,722 1,536 0
Changes in contingent consideration 10,027 (27,243) 2,350
Asset impairments 7,834 0 1,497
Stock-based compensation 31,348 31,465 27,224
Gain on sale of assets and business 0 (4,448) (6,504)
Goodwill impairment charge 240,000 0 0
Deferred income taxes, net (130,237) (13,046) (13,008)
Payments for contingent consideration 0 (289) (3,016)
Interest benefit on swaps designated as net investment hedges (17,410) (18,814) (20,880)
Other 15,888 5,960 (2,906)
Changes in operating assets and liabilities, net of effects of acquisitions and disposals:      
Accounts receivable (27,952) (15,763) (38,459)
Inventories 1,925 (41,068) (110,686)
Prepaid expenses and other assets 43,026 (11,420) 13,420
Accounts payable, accrued expenses and other liabilities 9,665 (31,258) (24,786)
Income taxes (28,486) (12,263) (79,453)
Net cash provided by operating activities from continuing operations 638,260 511,683 342,806
Cash flows from investing activities of continuing operations:      
Expenditures for property, plant and equipment (126,434) (91,442) (79,190)
Payments for businesses and intangibles acquired, net of cash acquired (120) (603,920) (198,429)
Proceeds from sales of business and assets 0 15,000 12,434
Net interest proceeds on swaps designated as net investment hedges 27,196 63,134 20,775
Proceeds from sales of investments 7,300 7,300 7,300
Purchase of investments (7,300) (11,300) (22,300)
Net cash (used in) provided by investing activities from continuing operations (99,358) (621,228) (259,410)
Cash flows from financing activities of continuing operations:      
Proceeds from new borrowings 130,000 646,000 744,250
Reduction in borrowings (291,500) (544,750) (884,500)
Debt extinguishment, issuance and amendment fees 0   (5,200)
Repurchase of common stock (200,000)   0
Net proceeds from share based compensation plans and the related tax impacts 3,352 5,190 (4,308)
Payments for contingent consideration (236) (4,004) (3,959)
Dividends paid (63,541) (63,896) (63,789)
Net cash (used in) provided by financing activities from continuing operations (421,925) 38,540 (217,506)
Cash flows from discontinued operations:      
Net cash used in operating activities (2,521) (1,045) (665)
Net cash provided by investing activities 0 0 1,469
Net cash (used in) provided by discontinued operations (2,521) (1,045) 804
Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents (9,654) 2,864 (19,744)
Net increase (decrease) in cash, cash equivalents and restricted cash equivalents 104,802 (69,186) (153,050)
Cash, cash equivalents and restricted cash equivalents at the beginning of the year 222,848 292,034 445,084
Cash, cash equivalents and restricted cash equivalents at the end of the year $ 327,650 $ 222,848 $ 292,034