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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities:    
Net income $ 193,689 $ 154,091
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 124,787 113,555
Amortization 19,787 9,578
Stock based compensation 18,075 14,829
Provision for (recovery of) doubtful accounts 930 190
(Gain) loss on disposition of fixed assets 303 (979)
Deferred income taxes 5,948 (5,414)
Defined benefit plan expense 11,517 14,466
Equity in results of affiliates (152) 130
Changes in balance sheet items, excluding effects from acquisitions and foreign currency adjustments:    
Accounts and other receivables 724 (72,620)
Inventories (16,025) (41,183)
Prepaid and other current assets (1,721) (807)
Accounts payable and accrued liabilities 15,047 55,921
Income taxes payable 6,729 (7,481)
Retirement and deferred compensation plan liabilities (935) (21,534)
Other changes, net 1,678 (3,157)
Net Cash Provided by Operations 380,381 209,585
Cash Flows from Investing Activities:    
Capital expenditures (186,841) (145,321)
Proceeds from sale of property, plant and equipment 3,658 4,056
Insurance proceeds   10,631
Acquisition of business, net of cash acquired (49,062) (527,916)
Acquisition of intangible assets (4,621) (346)
Investment in equity securities (3,530) (10,000)
Proceeds from sale of investment in equity securities 16,487  
Notes receivable, net (89) 216
Net Cash Used by Investing Activities (223,998) (668,680)
Cash Flows from Financing Activities:    
Proceeds from notes payable 36,893 18,003
Repayments of notes payable (41,145) (6,395)
Proceeds and repayments of short term credit facility, net (47,253) 139,384
Proceeds from long-term obligations 10,524 10,092
Repayments of long-term obligations (64,924) (67,026)
Dividends paid (67,195) (60,989)
Proceeds from stock option exercises 81,815 78,896
Purchase of treasury stock (54,873) (3,905)
Common stock repurchased and retired   (57,787)
Net Cash Provided (Used) by Financing Activities (146,158) 50,273
Effect of Exchange Rate Changes on Cash (6,471) (7,436)
Net Increase (Decrease) in Cash and Equivalents and Restricted Cash 3,754 (416,258)
Cash and Equivalents and Restricted Cash at Beginning of Period 266,823 712,640
Cash and Equivalents and Restricted Cash at End of Period $ 270,577 $ 296,382