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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income $ 191,355 $ 173,553 $ 121,887
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 73,991 76,650 83,003
Non-cash lease expense 46,163 44,460 0
Stock-based compensation 24,060 9,909 26,609
Foreign currency (gains)/losses (287) 3,829 16,381
Loss on disposal of assets 3,209 0 0
Impairment of fixed assets 0 0 48,551
Equity method earnings 0 0 (456)
Gain on step acquisition 0 0 (13,644)
Loss on extinguishment of debt 0 0 7,220
Deferred taxes (11,914) 1,965 (14,929)
Changes in operating assets and liabilities:      
Accounts receivable (11,207) 2,746 (10,453)
Inventories, net (31,137) 18,446 (33,371)
Prepaid expenses and other (153) (17,435) (1,536)
Other assets (31,616) (67,109) 887
Accounts payable 24,836 (7,184) (9,164)
Accrued expenses 87,452 (86,997) (7,433)
Other liabilities 14,389 25,098 (10,814)
Net cash provided by operating activities 379,141 177,931 202,738
Cash flows from investing activities:      
Purchases of property and equipment (63,823) (66,067) (70,371)
Proceeds on investment sales 14,037 11,160 11,536
Purchases of investments (14,693) (8,432) (11,420)
Acquisitions (net of cash acquired) (14,949) (8,073) (38,506)
Net cash used in investing activities (79,428) (71,412) (108,761)
Cash flows from financing activities:      
Payment of cash dividends (78,387) (82,189) (80,581)
Repurchase of shares of common stock (144,334) (825) (69,565)
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards 5,764 (2,325) 10,777
Finance lease principal payments (709) 0 0
Payment of debt issuance costs 0 0 (7,243)
Payments on long-term debt (142,500) (214,455) (552,500)
Proceeds from long-term debt 115,000 145,000 582,398
Net cash used in financing activities (245,166) (154,794) (116,714)
Effect of exchange rate changes on cash 12,506 (3,006) (16,751)
Net increase (decrease) in cash and cash equivalents 67,053 (51,281) (39,488)
Cash and cash equivalents, beginning of period 335,630 386,911 426,399
Cash and cash equivalents, end of period $ 402,683 $ 335,630 $ 386,911