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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities:    
Net Income $ 83,939 $ 55,250
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 47,627 42,792
Amortization 9,811 8,014
Stock-based compensation 11,489 9,141
Provision for CECL 342 1,251
Loss on disposition of fixed assets 91 54
Gain on remeasurement of equity securities (16,809) 0
Deferred income taxes (3,580) 6
Defined benefit plan expense 7,475 5,775
Equity in results of affiliates 515 799
Change in fair value of contingent consideration 975 0
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (70,194) (64,764)
Inventories (26,428) (8,615)
Prepaid and other current assets (16,995) (11,787)
Accounts payable, accrued and other liabilities 49,764 51,523
Income taxes payable (3,121) (5,278)
Retirement and deferred compensation plan liabilities (5,156) (1,312)
Other changes, net 2,440 2,184
Net Cash Provided by Operations 72,185 85,033
Cash Flows from Investing Activities:    
Capital expenditures (63,884) (61,625)
Proceeds from sale of property, plant and equipment 318 166
Maturity of short-term investment 243 0
Acquisition of business, net of cash acquired and release of escrow 0 (1,463)
Acquisition of intangible assets, net 0 (3,955)
Investment in equity securities 0 (20,423)
Notes receivable, net (593) (785)
Net Cash Used by Investing Activities (63,916) (88,085)
Cash Flows from Financing Activities:    
Proceeds from notes payable and overdrafts 4,019 8,148
Repayments of notes payable and overdrafts (3,180) (2,030)
Repayments and proceeds of short term revolving credit facility, net (52,000) 175,000
Proceeds from long-term obligations 2,053 0
Repayments of long-term obligations (4,337) (2,386)
Dividends paid (23,441) (23,031)
Proceeds from stock option exercises 31,871 18,602
Net Cash (Used) Provided by Financing Activities (45,015) 174,303
Effect of Exchange Rate Changes on Cash (8,539) (3,381)
Net (Decrease) Increase in Cash and Equivalents and Restricted Cash (45,285) 167,870
Cash and Equivalents and Restricted Cash at Beginning of Period 304,970 246,973
Cash and Equivalents and Restricted Cash at End of Period $ 259,685 $ 414,843