XML 17 R7.htm IDEA: XBRL DOCUMENT v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 156,923 $ 99,179
Adjustments to reconcile net income to net cash provided by operating activities, net of effects of acquisitions    
Depreciation 52,047 53,105
Amortization of intangible assets 7,842 8,083
Share-based compensation expense 16,513 14,764
Deferred income taxes (2,415) 1,194
Investment loss (gain) 13,197 (9,075)
(Gain) loss on disposal of property, plant and equipment (3,756) 136
Other (2,145) 151
Changes in operating assets:    
Change in accounts receivable (50,368) (17,060)
Change in inventory (35,119) (2,451)
Change in other operating assets (25,083) (5,597)
Changes in operating liabilities:    
Change in accounts payable 5,404 19,456
Change in accrued liabilities 17,790 4,706
Change in income tax payable 11,988 (2,332)
Change in other operating liabilities (5,479) (2,195)
Net cash flows provided by operating activities 157,339 162,064
Cash flows from investing activities    
Acquisitions, net of cash received (85,692) 0
Purchases of property, plant and equipment (78,105) (45,037)
Proceeds from sale of property, plant and equipment 89 3,042
Proceeds from short-term investments 3,819 4,020
Purchases of short-term investments (6,708) (5,160)
Purchase of equity securities (4,051) (1)
Other 6,080 6,462
Net cash and cash equivalents used in investing activities (164,568) (36,674)
Cash flows from financing activities    
Line of credit drawn 45,214 6,404
Repayments of lines of credit and short-term debt (35,382) (88,307)
Proceeds from long-term debt 184,718 315,006
Repayments of long-term debt (227,078) (384,554)
Net proceeds from issuance of common stock 140 2,103
Repayment of and proceeds from finance lease obligation (12) (151)
Taxes paid related to net share settlement (8,864) (10,046)
Net changes in noncontrolling interests 2,701 3,753
Other (227) (500)
Net cash and cash equivalents used in provided by financing activities (38,790) (156,292)
Effect of exchange rate changes on cash and cash equivalents (13,252) 5,291
Change in cash and cash equivalents, including restricted cash (59,271) (25,611)
Cash and cash equivalents, beginning of period, including restricted cash 366,818 320,529
Cash and cash equivalents, end of period, including restricted cash 307,547 294,918
Supplemental Cash Flow Information    
Interest paid during the period 2,226 4,545
Taxes paid during the period 29,674 23,904
Non-cash investing and financing activities:    
Accounts payable balance related to the purchase of property, plant and equipment 30,286 16,081
Dividend payable to noncontrolling interest $ 3,657 $ 0