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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Flows from Operating Activities      
Net earnings $ 109,472 $ 82,047 $ 157,360
Adjustments to arrive at net cash provided by operating activities:      
Depreciation and amortization 49,641 55,015 53,244
Share-based compensation expense (income) 5,608 (739) 503
Net (gain) loss on assets (252) (1,122) 63
Loss on divestitures and other charges 6,904 44,375 0
Deferred income taxes (8,705) (19,340) 9,844
Changes in operating assets and liabilities:      
Trade accounts receivable (11,357) 10,930 (96,638)
Inventories 46,828 25,238 (34,114)
Prepaid expenses and other assets (12,868) 3,257 (12,544)
Trade accounts payable and other accrued expenses 15,524 (18,251) 7,457
Accrued salaries, wages, and withholdings from employees 15,140 (3,039) 599
Income taxes 22 (1,836) (7,335)
Other liabilities 2,823 647 5,081
Net cash provided by operating activities 218,780 177,182 83,520
Cash Flows from Investing Activities:      
Acquisition of property, plant, and equipment (52,162) (39,100) (50,740)
Cash receipts on sold receivables 0 0 91,142
Proceeds from sale of assets 1,075 2,242 2,615
Proceeds from divestiture of businesses 12,595 0 0
Acquisition of new business 0 0 (31,100)
Other investing activities 5,071 (553) 2,916
Net cash (used in) provided by investing activities (33,421) (37,411) 14,833
Cash Flows from Financing Activities      
Proceeds from additional borrowings 36,667 47,083 322,529
Debt payments (154,348) (134,449) (284,332)
Purchase of treasury stock 0 0 (76,734)
Dividends paid (66,057) (62,190) (57,410)
Other financing activities (415) (1,027) (2,777)
Net cash used in financing activities (184,153) (150,583) (98,724)
Effect of exchange rate changes on cash and cash equivalents 2,411 64 2,928
Net increase (decrease) in cash and cash equivalents 3,617 (10,748) 2,557
Cash and cash equivalents at beginning of year 21,153 31,901 29,344
Cash and cash equivalents at end of year 24,770 21,153 31,901
Cash paid during the year for:      
Interest 14,751 20,130 21,567
Income taxes 44,755 40,139 24,089
Capitalized interest $ 514 $ 540 $ 604