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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income (loss) $ 112,872 $ (15,842) $ 121,431
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Amortization of debt issuance costs 1,413 2,942 4,749
Depreciation and amortization 81,987 80,467 86,550
Equity in undistributed earnings of associated companies, net of dividends (11,149) 1,005 (8,971)
Acquisition-related fair value adjustments related to inventory 0 0 801
Deferred income taxes (11,442) (10,552) (12,506)
Uncertain tax positions (non-deferred portion) (644) (6,398) (922)
Deferred compensation and other, net 5,711 2,613 (5,325)
Share-based compensation 14,605 11,666 11,038
Loss on extinguishment of debt 0 5,246 0
Gain on disposal of property, plant, equipment and other assets (1,307) (168) (4,695)
Impairment charges 0 93,000 0
Combination and other acquisition-related expenses, net of payments 0 (4,460) (1,974)
Restructuring and related charges 7,588 3,163 1,433
Pension and other postretirement benefits (2,079) (7,964) (6,330)
Increase (decrease) in cash from changes in current assets and current liabilities, net of acquisitions:      
Accounts receivable 32,169 (59,112) (67,473)
Inventories 49,751 (29,858) (84,428)
Prepaid expenses and other current assets (21) 3,705 (21,174)
Change in restructuring liabilities (9,786) (1,532) (5,266)
Accounts payable and accrued liabilities 5,937 (23,439) 37,998
Estimated taxes on income (loss) 3,415 (2,688) 3,997
Net cash provided by operating activities 279,020 41,794 48,933
Cash flows from investing activities      
Investments in property, plant and equipment (38,800) (28,539) (21,457)
Payments related to acquisitions, net of cash acquired 0 (13,115) (42,417)
Proceeds from disposition of assets 11,179 1,463 14,744
Net cash used in investing activities (27,621) (40,191) (49,130)
Cash flows from financing activities      
Payments of long-term debt (38,932) (673,203) (38,011)
Proceeds from long-term debt 0 750,000 0
(Repayments) borrowings on revolving credit facilities, net (164,769) (16,281) 53,031
Repayments on other debt, net (506) (1,629) (776)
Financing-related debt issuance costs 0 (3,734) 0
Dividends paid (31,650) (30,103) (28,599)
Stock options exercised, other (2,749) (378) 890
Net cash (used in) provided by financing activities (238,606) 24,672 (13,465)
Effect of foreign exchange rate changes on cash 771 (10,488) (3,057)
Net increase (decrease) in cash and cash equivalents 13,564 15,787 (16,719)
Cash and cash equivalents at the beginning of the period 180,963 165,176 181,895
Cash and cash equivalents at the end of the period 194,527 180,963 165,176
Supplemental cash flow disclosures:      
Income taxes, net of refunds 57,410 35,327 34,775
Interest 54,892 29,074 19,298
Non-cash activities:      
Change in accrued purchases of property, plant and equipment, net $ (746) $ 278 $ 2,132