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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows from Operating Activities:    
Net Income $ 160,845 $ 193,689
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 132,394 124,787
Amortization 30,020 19,787
Stock-based compensation 26,191 18,075
Provision for CECL 2,345 930
Loss on disposition of fixed assets 475 303
Deferred income taxes (2,591) 5,948
Defined benefit plan expense 17,442 11,517
Equity in results of affiliates 1,383 (152)
Change in fair value of contingent consideration 4,270 0
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (31,871) 724
Inventories 3,937 (16,025)
Prepaid and other current assets (15,932) (1,721)
Accounts payable, accrued and other liabilities 64,113 15,047
Income taxes payable (4,865) 6,729
Retirement and deferred compensation plan liabilities (1,569) (935)
Other changes, net (5,160) 1,678
Net Cash Provided by Operations 381,427 380,381
Cash Flows from Investing Activities:    
Capital expenditures (173,365) (186,841)
Proceeds from sale of property, plant and equipment 2,845 3,658
Acquisition of business, net of cash acquired and release of escrow (164,181) (49,062)
Acquisition of intangible assets, net (3,690) (4,621)
Investment in equity securities (38,455) (3,530)
Proceeds from sale of investment in equity securities 0 16,487
Notes receivable, net (1,046) (89)
Net Cash Used by Investing Activities (377,892) (223,998)
Cash Flows from Financing Activities:    
Proceeds from notes payable and overdrafts 19,191 36,893
Repayments of notes payable and overdrafts (33,162) (41,145)
Proceeds and repayments of short term revolving credit facility, net 70,000 (47,253)
Proceeds from long-term obligations 1,316 10,524
Repayments of long-term obligations (63,052) (64,924)
Payment of contingent consideration obligation (2,765) 0
Dividends paid (69,360) (67,195)
Proceeds from stock option exercises 51,098 81,815
Purchase of treasury stock 0 (54,873)
Net Cash Used by Financing Activities (26,734) (146,158)
Effect of Exchange Rate Changes on Cash 7,605 (6,471)
Net (Decrease) Increase in Cash and Equivalents and Restricted Cash (15,594) 3,754
Cash and Equivalents and Restricted Cash at Beginning of Period 246,973 266,823
Cash and Equivalents and Restricted Cash at End of Period $ 231,379 $ 270,577