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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 74,169 $ 76,014
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 26,917 27,705
Non-cash lease expense 8,478 7,640
Share-based compensation 8,312 7,459
Deferred income taxes (2,089) (298)
Loss on disposals of plant and equipment 1,383 717
Foreign exchange (income)/expense 84 (2,166)
Changes in assets and liabilities, net of acquisitions:    
Receivables (5,147) (27,170)
Inventory 4,322 (19,841)
Accounts payable and accrued expenses 26,069 27,391
Operating leases (8,478) (7,637)
Income taxes 1,050 6,447
Employee benefit plans (55) (1,863)
Other, net (1,307) (4,173)
Net cash flows from operating activities 133,708 90,225
Cash flows from investing activities:    
Additions to property, plant, and equipment (15,239) (15,591)
Proceeds from sale of property, plant, and equipment 28 866
Cash paid for acquisitions, net of cash acquired (6,089) (20,871)
Other, net (74) 8
Net cash flows from investing activities (21,374) (35,588)
Cash flows from financing activities:    
Proceeds from issuance of debt 117,435 195,321
Repayment of debt (138,183) (226,980)
Proceeds from issuance of common stock 3,014 2,331
Purchases of common stock (19,091) (10,301)
Dividends paid (21,641) (20,919)
Purchase of redeemable noncontrolling shares 0 (487)
Net cash flows from financing activities (58,466) (61,035)
Effect of exchange rate changes on cash (3,793) (4,970)
Net change in cash and equivalents 50,075 (11,368)
Cash and equivalents at beginning of period 64,405 59,173
Cash and equivalents at end of period 114,480 47,805
Cash paid for income taxes, net of refunds 19,130 11,990
Cash paid for interest 4,537 7,793
Non-cash items:    
Additions to property, plant, and equipment, not yet paid 421 260
Right-of-Use Assets obtained in exchange for new operating lease liabilities 5,154 3,410
Payable to sellers of acquired entities 11 875
Accrued dividends payable to noncontrolling interest $ 830 $ 0