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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities      
Net earnings $ 82,047 $ 157,360 $ 89,600
Adjustments to arrive at net cash provided by operating activities:      
Depreciation and amortization 55,015 53,244 48,518
Share-based compensation (income) expense (739) 503 5,855
Net (gain) loss on assets (1,122) 63 2,552
Loss on divestitures 44,375 0 33,160
Deferred income taxes (19,340) 9,844 17,414
Changes in operating assets and liabilities:      
Trade accounts receivable 10,930 (96,638) (130,835)
Inventories 25,238 (34,114) (47,345)
Prepaid expenses and other assets 3,257 (12,544) 14,072
Accounts payable and other accrued expenses (18,251) 7,457 4,804
Accrued salaries, wages and withholdings from employees (3,039) 599 (4,361)
Income taxes (1,836) (7,335) 2,846
Other liabilities 647 5,081 27
Net cash provided by operating activities 177,182 83,520 36,307
Cash flows from investing activities:      
Acquisition of property, plant, and equipment (39,100) (50,740) (56,344)
Cash receipts on sold receivables 0 91,142 141,465
Proceeds from sale of assets 2,242 2,615 10,485
Proceeds from divesture of business 0 0 12,457
Acquisition of new businesses 0 (31,100) 0
Other investing activities (553) 2,916 2,319
Net cash (used in) provided by investing activities (37,411) 14,833 110,382
Cash Flows from Financing Activities      
Proceeds from additional borrowings 47,083 322,529 231,174
Debt payments (134,449) (284,332) (239,950)
Purchase of treasury stock 0 (76,734) (87,217)
Dividends paid (62,190) (57,410) (54,038)
Other financing activities (1,027) (2,777) (3,383)
Net cash used in financing activities (150,583) (98,724) (153,414)
Effect of exchange rate changes on cash and cash equivalents 64 2,928 10,204
Net (decrease) increase in cash and cash equivalents (10,748) 2,557 3,479
Cash and cash equivalents at beginning of year 31,901 29,344 25,865
Cash and cash equivalents at end of year 21,153 31,901 29,344
Cash paid during the year for:      
Interest 20,130 21,567 19,523
Income taxes 40,139 24,089 29,261
Capitalized interest $ 540 $ 604 $ 486