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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows provided by (used in) operating activities:    
Net income $ 177,550 $ 167,757
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 136,790 122,386
Rationalization charges 4,807 10,711
Stock compensation expense 8,870 10,337
Loss on early extinguishment of debt 1,481 883
Other changes that provided (used) cash, net of effects from acquisitions:    
Trade accounts receivable, net (243,261) (277,768)
Inventories (475,171) (233,815)
Trade accounts payable 15,331 31,825
Accrued liabilities 15,914 (24,316)
Other, net 5,753 (17,313)
Net cash used in operating activities (351,936) (209,313)
Cash flows provided by (used in) investing activities:    
Purchase of businesses, net of cash acquired (1,333) 2,305
Capital expenditures (118,357) (123,604)
Other, net (688) 4,914
Net cash used in investing activities (120,378) (116,385)
Cash flows provided by (used in) financing activities:    
Borrowings under revolving loans 753,657 318,141
Repayments under revolving loans (54,815) (105,856)
Proceeds from issuance of long-term debt 0 499,725
Repayments of long-term debt (300,000) (500,000)
Changes in outstanding checks - principally vendors (225,863) (84,216)
Dividends paid on common stock (36,680) (31,564)
Debt issuance costs 0 (4,905)
Repurchase of common stock (39,402) (8,538)
Net cash provided by financing activities 96,897 82,787
Effect of exchange rate changes on cash and cash equivalents (8,179) (1,749)
Cash and cash equivalents:    
Net decrease (383,596) (244,660)
Balance at beginning of year 631,439 409,481
Balance at end of period 247,843 164,821
Interest paid, net 59,297 48,026
Income taxes paid, net $ 28,881 $ 47,297