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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net Income $ 186,107 $ 160,845
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 144,637 132,394
Amortization 29,871 30,020
Stock-based compensation 29,720 26,191
Provision for CECL 1,016 2,345
Loss (gain) on disposition of fixed assets (225) 475
Gain on remeasurement of equity securities (6,177) 0
Deferred income taxes (10,926) (2,591)
Defined benefit plan expense 21,930 17,442
Equity in results of affiliates 505 1,383
Change in fair value of contingent consideration 3,110 4,270
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (109,194) (31,871)
Inventories (71,482) 3,937
Prepaid and other current assets (13,105) (15,932)
Accounts payable, accrued and other liabilities 63,724 60,276
Income taxes payable (1,656) (4,865)
Retirement and deferred compensation plan liabilities (6,400) (1,569)
Other changes, net (2,082) (1,323)
Net Cash Provided by Operations 259,373 381,427
Cash Flows from Investing Activities:    
Capital expenditures (216,689) (173,365)
Proceeds from sale of property, plant and equipment 4,916 2,845
Purchase of short-term investment, net (76) 0
Acquisition of business, net of cash acquired and release of escrow (124,998) (164,181)
Acquisition of intangible assets, net 0 (3,690)
Investment in equity securities (5,871) (38,455)
Notes receivable, net (713) (1,046)
Net Cash Used by Investing Activities (343,431) (377,892)
Cash Flows from Financing Activities:    
Proceeds from notes payable and overdrafts 10,059 19,191
Repayments of notes payable and overdrafts (11,702) (33,162)
Repayments and proceeds of short term revolving credit facility, net 6,766 70,000
Proceeds from long-term obligations 11,660 1,316
Repayments of long-term obligations (66,026) (63,052)
Credit facility costs (1,718) 0
Payment of contingent consideration obligation 0 (2,765)
Dividends paid (73,493) (69,360)
Proceeds from stock option exercises 53,979 51,098
Purchase of treasury stock (28,398) 0
Net Cash Used by Financing Activities (98,873) (26,734)
Effect of Exchange Rate Changes on Cash (7,482) 7,605
Net Decrease in Cash and Equivalents and Restricted Cash (190,413) (15,594)
Cash and Equivalents and Restricted Cash at Beginning of Period 304,970 246,973
Cash and Equivalents and Restricted Cash at End of Period $ 114,557 $ 231,379