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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Consolidated net income $ 1,435,158 $ 1,110,468 $ 586,464
Adjustments to reconcile consolidated net income to net cash provided by (used for) operations:      
Depreciation and amortization 187,382 195,120 189,058
Amortization of stock-based compensation 42,930 36,117 35,288
Equity in (earnings) losses of affiliated companies (7,664) (3,508) 531
Deferred income taxes (13,050) 24,749 29,713
Loss (gain) on investments, net 2,857 (12,833) (5,333)
Other 3,612 8,429 12,282
Change in assets and liabilities:      
Accounts receivable, net (1,430,400) (2,109,159) (541,427)
Inventories (1,165,785) (960,605) 244,325
Accounts payable 945,819 1,766,912 760,883
Accrued expenses 102,193 391,941 86,484
Other assets and liabilities (136,129) (28,648) (38,425)
Net cash provided by (used for) operating activities (33,077) 418,983 1,359,843
Cash flows from investing activities:      
Acquisition of property, plant, and equipment (78,836) (83,051) (123,585)
Proceeds from sale of property, plant, and equipment 0 22,171 0
Cash paid for customer relationship intangible asset 0 0 (713)
Proceeds from Collection of Notes Receivable 21,125 762 0
Payments from issuance of notes receivable 0 0 (14,496)
Net cash used for investing activities (57,711) (60,118) (138,794)
Cash flows from financing activities:      
Change in short-term and other borrowings 258,816 12,938 (95,017)
Proceeds from (repayments of) long-term bank borrowings, net 1,233,250 (687) (411,497)
Redemption of notes (350,000) (130,860) (209,366)
Net proceeds from note offering 0 495,134 0
Proceeds from exercise of stock options 17,340 46,982 21,037
Repurchases of common stock (1,049,487) (911,548) (483,735)
Proceeds from (Payments for ) Settlement of forward-starting interest rate swaps, Financing Activities 0 24,896 (48,378)
Other (137) (159) (141)
Net cash provided by (used for) financing activities 109,782 (463,304) (1,227,097)
Effect of exchange rate changes on cash (64,273) (46,982) 79,560
Net increase (decrease) in cash and cash equivalents (45,279) (151,421) 73,512
Cash and cash equivalents at beginning of year 222,194 373,615 300,103
Cash and cash equivalents at end of year 176,915 222,194 373,615
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ 176,915 $ 222,194 $ 373,615