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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net earnings $ 93,394 $ 140,887 $ 118,745
Adjustments to arrive at net cash provided by operating activities:      
Depreciation and amortization 57,820 52,467 52,051
Share-based compensation expense 8,933 16,138 9,573
Net loss on assets 541 276 331
Net (gain) loss on divestitures and other charges 0 (2,532) 14,021
Portfolio optimization plan costs 24,089 0 0
Deferred income taxes (5,100) (11,010) (6,071)
Changes in operating assets and liabilities:      
Trade accounts receivable 35,801 (46,086) (34,571)
Inventories (28,193) (159,014) (36,323)
Prepaid expenses and other assets 5,767 (5,055) (6,057)
Trade accounts payable and other accrued expenses (5,978) 17,489 21,326
Accrued salaries, wages, and withholdings from employees (17,830) 3,486 7,321
Income taxes (1,175) 4,422 4,275
Other liabilities 1,628 602 597
Net cash provided by operating activities 169,697 12,070 145,218
Cash Flows from Investing Activities      
Acquisition of property, plant, and equipment (87,868) (79,322) (60,788)
Proceeds from sale of assets 156 264 216
Proceeds from divestiture of businesses 0 2,532 37,790
Acquisition of new businesses (1,650) (22,714) (13,875)
Other investing activities 1,741 792 1,097
Net cash used in investing activities (87,621) (98,448) (35,560)
Cash Flows from Financing Activities      
Proceeds from additional borrowings 351,662 328,597 112,194
Debt payments (355,161) (171,447) (110,168)
Purchase of treasury stock 0 0 (42,511)
Dividends paid (69,222) (68,915) (66,694)
Other financing activities (9,278) (2,056) (582)
Net cash (used in) provided by financing activities (81,999) 86,179 (107,761)
Effect of exchange rate changes on cash and cash equivalents 7,936 (4,620) (927)
Net increase (decrease) in cash and cash equivalents 8,013 (4,819) 970
Cash and cash equivalents at beginning of year 20,921 25,740 24,770
Cash and cash equivalents at end of year 28,934 20,921 25,740
Cash paid during the year for:      
Interest 24,443 14,716 12,593
Income taxes 39,681 48,242 29,224
Capitalized interest $ 1,984 $ 910 $ 471