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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income $ 155,708 $ 156,923
Adjustments to reconcile net income to net cash provided by operating activities, net of effects of acquisitions    
Depreciation 60,211 52,047
Amortization of intangible assets 7,668 7,842
Share-based compensation expense 17,467 16,513
Deferred income taxes (298) (2,415)
Investment (gain) loss (16,003) 13,197
Gain on disposal of property, plant and equipment (151) (3,756)
Other (414) (2,145)
Changes in operating assets:    
Change in accounts receivable (24,810) (50,368)
Change in inventory 32,588 (35,119)
Change in other operating assets (29,689) (25,083)
Changes in operating liabilities:    
Change in accounts payable (6,992) 5,404
Change in accrued liabilities (11,779) 17,790
Change in income tax payable 7,181 11,988
Change in other operating liabilities 1,741 (5,479)
Net cash flows provided by operating activities 192,428 157,339
Cash flows from investing activities    
Acquisitions, net of cash received 0 (85,692)
Purchases of property, plant and equipment (84,989) (78,105)
Proceeds from sale of property, plant and equipment 362 89
Proceeds from short-term investments 1,933 3,819
Purchases of short-term investments (4,094) (6,708)
Purchases of securities (13,900) (4,051)
Proceeds from sales of securities 417 2
Other 2,780 6,078
Net cash and cash equivalents used in investing activities (97,491) (164,568)
Cash flows from financing activities    
Advances on lines of credit and short-term debt 9,796 45,214
Repayments of lines of credit and short-term debt (11,902) (35,382)
Proceeds from long-term debt 10,193 184,718
Repayments of long-term debt (103,251) (227,078)
Net proceeds from issuance of common stock 0 140
Repayment of and proceeds from finance lease obligation (23) (12)
Taxes paid related to net share settlement (10,647) (8,864)
Net changes in noncontrolling interest 107 2,701
Other (932) (227)
Net cash and cash equivalents used in financing activities (106,659) (38,790)
Effect of exchange rate changes on cash and cash equivalents (4,641) (13,252)
Change in cash and cash equivalents, including restricted cash (16,363) (59,271)
Cash and cash equivalents, beginning of period, including restricted cash 341,099 366,818
Cash and cash equivalents, end of period, including restricted cash 324,736 307,547
Supplemental Cash Flow Information    
Interest paid during the period 3,378 2,226
Taxes paid during the period 63,137 29,674
Non-cash investing and financing activities:    
Accounts payable balance related to the purchase of property, plant and equipment 23,674 30,286
Dividend payable to noncontrolling interest $ 3,771 $ 3,657