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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net earnings $ 99,009 $ 124,510
Adjustments to arrive at net cash provided by operating activities:    
Depreciation and amortization 41,706 39,057
Share-based compensation (816) 1,541
Net (gain) loss on assets (1,224) 311
Deferred income taxes (2,303) 3,152
Changes in operating assets and liabilities:    
Accounts receivable 6,355 (111,283)
Inventories 14,493 (25,044)
Prepaid expenses and other assets (5,053) (3,118)
Accounts payable and accrued expenses (19,565) (9,266)
Salaries, wages and withholdings from employees (1,647) (782)
Income taxes (5,294) (12,647)
Other deferred liabilities 1,920 2,429
Net cash provided by operating activities 127,581 8,860
Cash flows from investing activities:    
Acquisition of property, plant, and equipment (26,073) (34,090)
Cash receipts on sold receivables 0 91,142
Proceeds from sale of assets 2,033 283
Acquisition of new businesses 0 (31,100)
Other investing activity 4,280 616
Net cash (used in) provided by investing activities (19,760) 26,851
Cash flows from financing activities:    
Proceeds from additional borrowings 35,126 248,426
Debt payments (90,966) (158,214)
Purchase of treasury stock 0 (76,734)
Dividends paid (45,688) (42,195)
Other financing activity (1,027) (2,777)
Net cash used in financing activities (102,555) (31,494)
Effect of exchange rate changes on cash and cash equivalents (2,745) 3,199
Net increase in cash and cash equivalents 2,521 7,416
Cash and cash equivalents at beginning of period 31,901 29,344
Cash and cash equivalents at end of period $ 34,422 $ 36,760