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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 35,594 $ 41,939
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 17,990 18,350
Non-cash lease expense 5,283 5,199
Share-based compensation 7,015 5,524
Deferred income taxes (125) 501
Loss on disposals of plant and equipment 448 594
Foreign exchange income (56) (84)
Changes in assets and liabilities, net of acquisitions:    
Receivables (17,820) (46,371)
Inventory (7,520) (35,318)
Accounts payable and accrued expenses 8,561 18,637
Operating leases (5,283) (5,195)
Income taxes 3,825 535
Employee benefit plans 99 (50)
Other, net (1,010) (116)
Net cash flows from operating activities 47,001 4,145
Cash flows from investing activities:    
Additions to property, plant, and equipment (9,445) (10,444)
Proceeds from sale of property, plant, and equipment 25 866
Cash paid for acquisitions, net of cash acquired (5,826) (6,728)
Other, net 3 8
Net cash flows from investing activities (15,243) (16,298)
Cash flows from financing activities:    
Proceeds from issuance of debt 98,234 129,985
Repayment of debt (116,142) (113,171)
Proceeds from issuance of common stock 1,520 1,495
Purchases of common stock (17,724) (9,543)
Dividends paid (14,446) (13,510)
Purchase of redeemable noncontrolling shares 0 (485)
Net cash flows from financing activities (48,558) (5,229)
Effect of exchange rate changes on cash (4,522) (800)
Net change in cash and equivalents (21,322) (18,182)
Cash and equivalents at beginning of period 64,405 59,173
Cash and equivalents at end of period 43,083 40,991
Cash paid for income taxes, net of refunds 6,227 8,578
Cash paid for interest 2,483 4,731
Non-cash items:    
Additions to property, plant, and equipment, not yet paid 204 307
Right-of-Use Assets obtained in exchange for new operating lease liabilities 4,915 1,772
Accrued dividends payable to noncontrolling interests $ 830 $ 642