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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net (loss) income $ (47,017) $ 8,780
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation and amortization 89,837 79,196
Gain on disposition of property, plant and equipment (9) (202)
Stock compensation expense 10,530 8,121
Non-cash goodwill impairment charge 53,694 0
Costs (gain) related to the sale of businesses (3,894) 0
Changes in assets and liabilities, net of the effects of acquisition and divestiture:    
Accounts receivable (4,587) (5,273)
Inventories (21,481) (8,699)
Prepaid expenses and other current assets (11,629) 5,367
Accounts payable (4,641) (11,629)
Accrued liabilities 5,510 22,437
Deferred income taxes 683 (3,541)
Long-term retirement benefits (12,364) (13,096)
Long-term tax liability (9,972) (13,029)
Other 5,090 2,541
Net cash provided by operating activities 49,750 70,973
Investing activities:    
Proceeds from disposition of property, plant and equipment 223 6,990
Proceeds from the sale of businesses, net of cash sold 160,869 0
Capital expenditures (41,822) (37,405)
Business acquisitions, net of cash acquired 159 (718,782)
Other 0 (921)
Net cash provided (used) by investing activities 119,429 (750,118)
Financing activities:    
Net change in other borrowings 242 (167)
Payments on long-term debt (321,318) (268,580)
Proceeds from the issuance of long-term debt 170,000 1,006,333
Payments of debt issuance costs 0 (11,341)
Proceeds from the issuance of common stock 176 277
Dividends paid (24,361) (24,302)
Withholding taxes paid on stock issuances (1,391) (857)
Cash settlement of foreign currency hedges related to intercompany financing 1,070 6,346
Other (232) (2,625)
Net cash (used) provided by financing activities (177,954) 692,392
Effect of exchange rate changes on cash flows (2,590) (2,190)
(Decrease) increase in cash, cash equivalents and restricted cash (11,365) 11,057
Cash, cash equivalents and restricted cash at beginning of period 92,040 81,128
Cash, cash equivalents and restricted cash at end of period 80,675 92,185
Less: Restricted cash, included in Prepaid expenses and other current assets 0 (2,145)
Cash and cash equivalents at end of period $ 80,675 $ 90,040