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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities:    
Net Income $ 125,984 $ 139,213
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 95,123 95,606
Amortization 22,094 19,622
Stock-based compensation 22,136 21,805
Provision for CECL 2,338 (240)
(Gain) loss on disposition of fixed assets (179) 5
Net loss (gain) on remeasurement of equity securities 1,733 (15,198)
Deferred income taxes (5,484) (6,865)
Defined benefit plan expense 12,347 14,650
Equity in results of affiliates 362 434
Change in fair value of contingent consideration (2,265) 1,950
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (60,045) (76,735)
Inventories (49,242) (55,873)
Prepaid and other current assets (24,091) (19,793)
Accounts payable, accrued and other liabilities 62,973 69,139
Income taxes payable 822 (5,261)
Retirement and deferred compensation plan liabilities (19,727) (9,657)
Other changes, net (8,225) 2,779
Net Cash Provided by Operations 176,654 175,581
Cash Flows from Investing Activities:    
Capital expenditures (147,262) (137,039)
Proceeds from government grants 12,794 0
Proceeds from sale of property, plant and equipment 507 4,571
Maturity of short-term investment 740 243
Acquisition of business, net of cash acquired and release of escrow 0 (4,834)
Proceeds from sale of investment in equity securities 1,088 0
Notes receivable, net (6,992) (29)
Net Cash Used by Investing Activities (139,125) (137,088)
Cash Flows from Financing Activities:    
Proceeds from notes payable and overdrafts 20,457 7,410
Repayments of notes payable and overdrafts (21,010) (4,615)
Repayments and proceeds of short term revolving credit facility, net (144,345) (52,000)
Proceeds from long-term obligations 402,244 7,888
Repayments of long-term obligations (80,453) (7,001)
Debt issuance costs (4,009) (1,718)
Dividends paid (49,827) (48,415)
Proceeds from stock option exercises 11,416 53,038
Purchase of treasury stock (53,088) 0
Net Cash Provided (Used) by Financing Activities 81,385 (45,413)
Effect of Exchange Rate Changes on Cash (1,365) (6,555)
Net Increase (Decrease) in Cash and Equivalents 117,549 (13,475)
Cash and Equivalents at Beginning of Period 122,925 304,970
Cash and Equivalents at End of Period $ 240,474 $ 291,495