XML 21 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net Income $ 211,704 $ 70,434 $ 353,327
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and goodwill and other long-lived asset impairment 235,169 261,138 162,225
Amortization of lease right-of-use asset 67,734 67,568 73,752
Net pension benefit and special separation benefit expense (101,398) (166,611) (91,898)
(Gain) loss on marketable equity securities and cost method investments, net (140,671) 134,011 (254,844)
Credit loss expense and provision for other receivables 6,045 2,958 6,824
Stock-based compensation expense, net of forfeitures 6,712 6,121 5,659
Accretion expense and change in fair value of contingent consideration liabilities (6,593) (5,105) (4,207)
Foreign exchange loss 1,141 2,023 179
Gain on disposition of businesses, property, plant and equipment, investments and other assets, net (11,811) (24,220) (8,554)
Equity in losses (earnings) of affiliates, net of distributions 20,751 13,503 4,917
Provision for (benefit from) deferred income taxes 43,765 (3,844) 65,046
Change in operating assets and liabilities:      
Accounts receivable 8,231 45,518 (47,430)
Inventories (62,873) (64,324) 4,551
Accounts payable and accrued liabilities 24,695 (33,588) 32,397
Deferred revenue 38,497 18,219 7,224
Income taxes receivable/payable 6,152 6,766 (8,689)
Lease liabilities (71,471) (78,471) (85,147)
Other assets and other liabilities, net (12,166) (21,275) (14,144)
Other (3,738) 4,783 1,238
Net Cash Provided by Operating Activities 259,875 235,604 202,426
Cash Flows from Investing Activities      
Purchases of property, plant and equipment (93,447) (82,684) (162,537)
Investments in certain businesses, net of cash acquired (78,149) (130,106) (351,882)
Proceeds from sales of marketable equity securities 61,979 102,040 65,499
Loan to related party (30,000) 0 0
Investments in equity affiliates, cost method and other investments (14,050) (38,894) (8,531)
Purchases of marketable equity securities (6,162) (40,518) (48,036)
Net proceeds from sales of businesses, property, plant and equipment and other assets 4,294 5,057 10,295
Other 2,560 1,039 557
Net Cash Used in Investing Activities (152,975) (184,066) (494,635)
Cash Flows from Financing Activities      
Issuance of borrowings 293,387 77,299 70,184
Common shares repurchased (193,160) (71,386) (55,683)
Repayments of borrowings (121,744) (14,484) (49,645)
Net borrowings under revolving credit facilities (104,244) 3,000 134,696
Net proceeds from (repayments of) vehicle floor plan payable 73,732 26,230 (10,563)
Dividends paid (30,953) (30,712) (30,136)
Deferred payments of acquisitions (5,328) (5,731) (30,866)
Distributions paid to noncontrolling interests (5,306) (2,978) (639)
Purchase of noncontrolling interest (4,988) (1,200) (3,508)
Issuance of noncontrolling interest 3,931 4,918 3,777
Proceeds from sale of noncontrolling interest 0 3,200 0
Other (5,162) (6,263) 3,410
Net Cash (Used in) Provided by Financing Activities (99,835) (18,107) 31,027
Effect of Currency Exchange Rate Change 4,394 (1,842) (3,029)
Net Increase (Decrease) in Cash and Cash Equivalents and Restricted Cash 11,459 31,589 (264,211)
Cash and Cash Equivalents and Restricted Cash at Beginning of Year 190,432 158,843 423,054
Cash and Cash Equivalents and Restricted Cash at End of Year 201,891 190,432 158,843
Cash paid during the year for:      
Income taxes 39,000 48,000 39,000
Interest $ 51,000 $ 37,000 $ 30,000