XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income $ 205,541 $ 245,897
Adjustments to reconcile net income to net cash provided by operating activities, net of effects of acquisitions    
Depreciation 91,220 81,622
Amortization of intangible assets 11,476 11,780
Share-based compensation expense 23,436 26,724
Deferred income taxes (2,479) (2,723)
Investment (gain) loss (17,555) 15,778
Gain on disposal of property, plant and equipment (1,554) (3,677)
Other (2,260) (3,614)
Changes in operating assets:    
Change in accounts receivable (49,452) (33,819)
Change in inventory 10,905 (51,402)
Change in other operating assets (42,144) (40,587)
Changes in operating liabilities:    
Change in accounts payable 3,312 (10,522)
Change in accrued liabilities (1,915) 35,552
Change in income tax payable 10,940 23,124
Change in other operating liabilities 3,051 (4,567)
Net cash flows provided by operating activities 242,522 289,566
Cash flows from investing activities    
Acquisitions, net of cash received 0 (85,692)
Purchases of property, plant and equipment (123,472) (147,927)
Proceeds from sale of property, plant and equipment 2,077 414
Proceeds from short-term investments 2,768 5,081
Purchases of short-term investments (6,065) (6,500)
Purchases of securities (13,901) (4,051)
Proceeds from sales of securities 3,891 2
Other 5,331 13,073
Net cash and cash equivalents used in investing activities (129,371) (225,600)
Cash flows from financing activities    
Advances on lines of credit and short-term debt 16,209 56,839
Repayments of lines of credit and short-term debt (21,310) (35,382)
Proceeds from long-term debt 25,204 324,718
Repayments of long-term debt (150,527) (344,390)
Net proceeds from issuance of common stock 0 139
Repayment of and proceeds from finance lease obligation (34) (61)
Taxes paid related to net share settlement (15,584) (12,280)
Net changes in noncontrolling interest 117 2,756
Other (4,753) (3,716)
Net cash and cash equivalents used in financing activities (150,678) (11,377)
Effect of exchange rate changes on cash and cash equivalents (5,935) (33,575)
Change in cash and cash equivalents, including restricted cash (43,462) 19,014
Cash and cash equivalents, beginning of period, including restricted cash 341,099 366,818
Cash and cash equivalents, end of period, including restricted cash 297,637 385,832
Supplemental Cash Flow Information    
Interest paid during the period 4,226 4,692
Taxes paid during the period 87,725 50,192
Non-cash investing and financing activities:    
Accounts payable balance related to the purchase of property, plant and equipment $ 14,730 $ 36,511