XML 18 R6.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 155,904 $ 148,854
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 39,582 37,067
Non-cash lease expense 12,664 12,939
Share-based compensation 8,449 8,940
Deferred income taxes 2,305 3,783
Loss on disposals of plant and equipment 491 1,087
Foreign exchange expense 8,098 4,290
Changes in assets and liabilities, net of acquisitions:    
Receivables (20,427) (73,995)
Inventory 2,537 (122,150)
Accounts payable and accrued expenses 4,376 1,881
Operating leases (12,847) (12,939)
Income taxes (2,667) (3,604)
Income taxes-U.S. Tax Cuts and Jobs Act (2,902) (355)
Employee benefit plans 603 1,544
Other, net 2,463 (182)
Net cash flows from operating activities 198,629 7,160
Cash flows from investing activities:    
Additions to property, plant, and equipment (30,155) (29,327)
Proceeds from sale of property, plant, and equipment 0 6
Cash paid for acquisitions, net of cash acquired (6,641) (1,576)
Other, net 26 9
Net cash flows from investing activities (36,770) (30,888)
Cash flows from financing activities:    
Proceeds from issuance of debt 381,789 434,548
Repayments of debt (469,442) (350,869)
Proceeds from issuance of common stock 9,010 3,584
Purchases of common stock (29,888) (30,731)
Dividends paid (31,315) (27,293)
Deferred Payments for Acquisitions (448) 0
Net cash flows from financing activities (140,294) 29,239
Effect of exchange rate changes on cash and cash equivalents (4,848) (6,524)
Net change in cash and cash equivalents 16,717 (1,013)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance 45,790 40,536
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance 62,507 39,523
Non-cash items:    
Additions to property, plant, and equipment, not yet paid 519 483
Right-of-Use Assets obtained in exchange for new operating lease liabilities 5,685 13,745
Payable to sellers of acquired entities 382 0
Non-cash investment to acquire property in lieu of cash payment for products provided 419 0
Accrued dividends payable to noncontrolling interest 821 0
Payable for share repurchases $ 890 $ 0