XML 19 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows from Operating Activities:    
Net income $ 59,288 $ 51,805
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 38,357 34,902
Amortization 2,818 2,429
Stock based compensation 7,511 7,748
Provision for (recovery of) doubtful accounts 94 147
Deferred income taxes (2,733) (2,492)
Defined benefit plan expense 4,872 4,239
Equity in results of affiliates 65 48
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (67,484) (35,865)
Inventories (18,575) (7,913)
Prepaid and other current assets 129 (13,320)
Accounts payable and accrued liabilities 26,744 26,269
Income taxes payable 3,255 1,981
Retirement and deferred compensation plan liabilities (5,381) (24,069)
Other changes, net 2,059 (7,733)
Net Cash Provided by Operations 51,019 38,176
Cash Flows from Investing Activities:    
Capital expenditures (40,019) (34,848)
Proceeds from sale of property and equipment 2,848 989
Insurance proceeds 10,631  
Acquisition of intangible assets (124)  
Investment in unconsolidated affiliate   (5,000)
Notes receivable, net 208 445
Net Cash Used by Investing Activities (26,456) (38,414)
Cash Flows from Financing Activities:    
Proceeds from notes payable 8,564  
Repayments of notes payable (3,956)  
Proceeds and repayments of short term credit facility, net   (163,665)
Proceeds from long-term obligations 2,524  
Repayments of long-term obligations (3,855) (2,268)
Dividends paid (19,830) (19,937)
Proceeds from stock option exercises 34,880 18,705
Purchase of treasury stock (3,905)  
Common stock repurchased and retired (12,797) (16,019)
Net Cash Provided (Used) by Financing Activities 1,625 (183,184)
Effect of Exchange Rate Changes on Cash 5,930 1,862
Net Increase (Decrease) in Cash and Equivalents and Restricted Cash 32,118 (181,560)
Cash and Equivalents and Restricted Cash at Beginning of Period 712,640 466,287
Cash and Equivalents and Restricted Cash at End of Period $ 744,758 $ 284,727