XML 18 R7.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities:    
Net Income $ 180,161 $ 186,107
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 142,046 144,637
Amortization 32,772 29,871
Stock-based compensation 31,941 29,720
Provision for CECL 3,344 1,016
Loss (gain) on disposition of fixed assets 315 (225)
Net loss (gain) on remeasurement of equity securities 1,084 (6,177)
Deferred income taxes (9,506) (10,926)
Defined benefit plan expense 18,367 21,930
Equity in results of affiliates 184 505
Change in fair value of contingent consideration (2,265) 3,110
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (76,921) (109,194)
Inventories (62,139) (71,482)
Prepaid and other current assets (9,903) (13,105)
Accounts payable, accrued and other liabilities 62,053 63,724
Income taxes payable 15,470 (1,656)
Retirement and deferred compensation plan liabilities (15,432) (6,400)
Other changes, net (5,222) (2,082)
Net Cash Provided by Operations 306,349 259,373
Cash Flows from Investing Activities:    
Capital expenditures (226,131) (216,689)
Proceeds from government grants 17,058 0
Proceeds from sale of property, plant and equipment 778 4,916
Maturity of short-term investment 740 0
Purchase of short-term investments 0 (76)
Acquisition of business, net of cash acquired and release of escrow (4,100) (124,998)
Acquisition of intangible assets, net (5,189) 0
Investment in equity securities 0 (5,871)
Proceeds from sale of investment in equity securities 1,599 0
Notes receivable, net (7,155) (713)
Net Cash Used by Investing Activities (222,400) (343,431)
Cash Flows from Financing Activities:    
Proceeds from notes payable and overdrafts 35,058 10,059
Repayments of notes payable and overdrafts (33,417) (11,702)
Repayments and proceeds of short term revolving credit facility, net (93,468) 6,766
Proceeds from long-term obligations 406,550 11,660
Repayments of long-term obligations (262,245) (66,026)
Debt issuance costs (4,009) (1,718)
Dividends paid (74,656) (73,493)
Proceeds from stock option exercises 18,411 53,979
Purchase of treasury stock (72,329) (28,398)
Net Cash Used by Financing Activities (80,105) (98,873)
Effect of Exchange Rate Changes on Cash (957) (7,482)
Net Increase (Decrease) in Cash and Equivalents and Restricted Cash 2,887 (190,413)
Cash and Equivalents and Restricted Cash at Beginning of Period 122,925 304,970
Cash and Equivalents and Restricted Cash at End of Period 125,812 114,557
Cash and equivalents 124,812 114,557
Restricted cash included in prepaid and other 1,000 0
Total Cash and Equivalents and Restricted Cash shown in the Statement of Cash Flows $ 125,812 $ 114,557