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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities:    
Net Income $ 82,933 $ 54,586
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 53,026 48,297
Amortization 11,323 10,962
Stock-based compensation 18,276 15,042
(Release) Provision for CECL (568) 2,203
Loss (gain) on disposition of fixed assets 120 (302)
Net gain on remeasurement of equity securities (592) (188)
Deferred income taxes (7,958) (5,483)
Defined benefit plan expense 3,724 3,537
Equity in results of affiliates 221 131
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (56,527) (7,845)
Inventories 7,266 (17,415)
Prepaid and other current assets (2,720) (20,578)
Accounts payable, accrued and other liabilities 4,712 24,639
Income taxes payable (2,954) (364)
Retirement and deferred compensation plan liabilities (13,058) (7,809)
Other changes, net (4,891) (1,109)
Net Cash Provided by Operations 92,333 98,304
Cash Flows from Investing Activities:    
Capital expenditures (75,661) (77,825)
Proceeds from sale of property, plant and equipment 175 635
Purchase of short-term investments (1,066) 0
Acquisition of businesses, net of cash acquired and release of escrow 0 (11,209)
Acquisition of intangible assets, net 0 (650)
Notes receivable, net (20) (132)
Net Cash Used by Investing Activities (76,572) (89,181)
Cash Flows from Financing Activities:    
Proceeds from notes payable and overdrafts 13,504 16,086
Repayments of notes payable and overdrafts 0 (7,473)
Proceeds and (repayments) of short term revolving credit facility, net 68,838 0
Proceeds from long-term obligations 26 210
Repayments of long-term obligations (101,320) (2,888)
Dividends paid (27,064) (24,848)
Proceeds from stock option exercises 22,340 13,809
Purchase of treasury stock (12,076) (19,729)
Net Cash Used by Financing Activities (35,752) (24,833)
Effect of Exchange Rate Changes on Cash (3,818) 788
Net Decrease in Cash and Equivalents and Restricted Cash (23,809) (14,922)
Cash and Equivalents and Restricted Cash at Beginning of Period 223,643 142,732
Cash and Equivalents and Restricted Cash at End of Period 199,834 127,810
Cash and equivalents 199,834 126,810
Restricted cash included in prepaid and other 0 1,000
Total Cash and Equivalents and Restricted Cash shown in the Statement of Cash Flows $ 199,834 $ 127,810