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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 76,014 $ 81,186
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 27,705 28,987
Non-cash lease expense 7,640 0
Share-based compensation 7,459 6,627
Deferred income taxes (298) (4,755)
Loss on disposals of plant and equipment 717 370
Foreign exchange (income)/expense (2,166) 3,151
Changes in assets and liabilities, net of acquisitions:    
Receivables (27,170) (30,853)
Inventory (19,841) (15,571)
Accounts payable and accrued expenses 27,391 (6,094)
Operating Leases (7,637) 0
Income taxes 6,447 2,000
Income taxes-U.S. Tax Cuts and Jobs Act 0 (7,026)
Employee benefit plans (1,863) (2,945)
Other, net (4,173) 5,341
Net cash flows from operating activities 90,225 60,418
Cash flows from investing activities:    
Additions to property, plant, and equipment (15,591) (15,108)
Proceeds from sale of property, plant, and equipment 866 432
Cash paid for acquisitions, net of cash acquired (20,871) (42,085)
Other, net 8 388
Net cash flows from investing activities (35,588) (56,373)
Cash flows from financing activities:    
Proceeds from issuance of debt 195,321 199,874
Repayment of debt (226,980) (208,077)
Proceeds from issuance of common stock 2,331 8,747
Purchases of common stock (10,301) (12,080)
Dividends paid (20,919) (16,960)
Purchase of redeemable noncontrolling shares (487) 0
Net cash flows from financing activities (61,035) (28,496)
Effect of exchange rate changes on cash (4,970) (1,609)
Net change in cash and equivalents (11,368) (26,060)
Cash and equivalents at beginning of period 59,173 67,233
Cash and equivalents at end of period 47,805 41,173
Cash paid for income taxes, net of refunds 11,990 20,821
Cash paid for interest 7,793 7,842
Non-cash items:    
Additions to property, plant, and equipment, not yet paid 260 124
Right-of-Use Assets obtained in exchange for new operating lease liabilities 3,410 0
Payable to sellers of acquired entities $ 875 $ 3,181