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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net earnings $ 111,766 $ 91,516
Adjustments to arrive at net cash provided by operating activities:    
Depreciation and amortization 39,262 38,828
Share-based compensation expense 12,476 6,431
Net loss on assets 283 203
Loss on divestitures and other charges 0 13,774
Deferred income taxes 20,465 3,793
Changes in operating assets and liabilities:    
Trade accounts receivable (39,520) (35,290)
Inventories (112,021) (15,898)
Prepaid expenses and other assets (39,598) (15,016)
Accounts payable and other accrued expenses 24,110 24,007
Accrued salaries, wages, and withholdings from employees 1,819 1,763
Income taxes (4,342) (1,155)
Other liabilities 198 3,192
Net cash provided by operating activities 14,898 116,148
Cash Flows from Investing Activities:    
Acquisition of property, plant, and equipment (51,703) (37,608)
Proceeds from sale of assets 94 201
Proceeds from divestiture of businesses 0 36,790
Acquisition of new business (1,048) (13,875)
Other investing activities 947 1,348
Net cash used in investing activities (51,710) (13,144)
Cash flows from financing activities:    
Proceeds from additional borrowings 187,715 55,589
Debt payments (87,657) (67,534)
Purchase of treasury stock 0 (31,467)
Dividends paid (51,681) (49,468)
Other financing activities (2,056) (582)
Net cash provided by (used in) financing activities 46,321 (93,462)
Effect of exchange rate changes on cash and cash equivalents 11,330 (1,373)
Net increase in cash and cash equivalents 20,839 8,169
Cash and cash equivalents at beginning of period 25,740 24,770
Cash and cash equivalents at end of period $ 46,579 $ 32,939