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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income $ 203,410 $ 209,072
Adjustments to reconcile net income to cash flows (used in) provided by operating activities    
Depreciation and amortization 30,894 30,816
Unrealized foreign exchange loss (gain) 12,531 (1,721)
Amortization of debt issuance costs 1,835 1,337
Share-based compensation 18,159 20,822
(Gain) loss on disposals of property, plant and equipment (3,257) 146
Deferred income taxes 6,928 16,633
Changes in operating assets and liabilities    
Accounts receivable (176,531) (105,707)
Inventories (156,065) 26,242
Accounts payable 21,437 26,627
Accrued taxes (3,419) 24,366
Other assets and liabilities (14,964) 31,458
Cash flows (used in) provided by operating activities (59,042) 280,091
Cash flows from investing activities    
Additions to property, plant and equipment (33,638) (19,210)
Other, net 4,542 0
Cash flows used in investing activities (29,096) (19,210)
Cash flows from financing activities    
Proceeds from (repayments of) short-term borrowings, net (Note $5) 31,056 (2,177)
Proceeds from revolving credit facility 483,000 0
Repayments of revolving credit facility (77,400) 0
Repayments of term loan facility (Note $5) (315,000) (13,125)
Purchases of common stock (138,158) (30,146)
Payment of debt issuance costs (2,583) 0
Dividends paid on common stock (39,672) (37,058)
Dividends paid to noncontrolling interests (1,601) (1,360)
Payment of employee restricted stock tax withholdings (10,661) (3,946)
Other, net (3,600) 0
Cash flows used in financing activities (74,619) (87,812)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (10,463) (4,015)
Net (decrease) increase in cash, cash equivalents and restricted cash (173,220) 169,054
Cash, cash equivalents and restricted cash, beginning of year 281,677 151,452
Cash, cash equivalents and restricted cash, end of period 108,457 320,506
Supplemental non-cash information    
Additions to property, plant and equipment 6,757 3,105
Additions to right-of-use assets obtained in exchange for operating lease obligations 17,919 7,341
Additions to right-of-use assets obtained in exchange for finance lease obligations 335 150
Additions to treasury stock 1,595 0
Dividend equivalents rights ("DERs") declared not paid 1,323 1,537
Contingent consideration (Note 1) 1,400 0
Magnus share repurchase liability (Note 10) $ 41,577 $ 0