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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows from Operating Activities:    
Net income $ 55,250 $ 62,999
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 42,792 41,487
Amortization 8,014 6,002
Stock based compensation 9,141 6,565
Provision for CECL 1,251 497
(Gain) loss on disposition of fixed assets 54 310
Deferred income taxes 6 671
Defined benefit plan expense 5,775 3,858
Equity in results of affiliates 799 95
Changes in balance sheet items, excluding effects from acquisitions and foreign currency adjustments:    
Accounts and other receivables (64,764) (35,301)
Inventories (8,615) (13,097)
Prepaid and other current assets (11,787) (2,282)
Accounts payable, accrued and other liabilities 45,458 6,865
Income taxes payable (5,278) 3,511
Retirement and deferred compensation plan liabilities (1,312) (5,940)
Other changes, net 8,249 1,396
Net Cash Provided by Operations 85,033 77,636
Cash Flows from Investing Activities:    
Capital expenditures (61,625) (51,742)
Proceeds from sale of property, plant and equipment 166 178
Acquisition of business, release of escrow (1,463) (4,036)
Acquisition of intangible assets (3,955) (221)
Investment in equity securities (20,423)  
Proceeds from sale of investment in equity securities   16,487
Notes receivable, net (785) 231
Net Cash Used by Investing Activities (88,085) (39,103)
Cash Flows from Financing Activities:    
Proceeds from notes payable and overdrafts 8,148 16,783
Repayments of notes payable and overdrafts (2,030) (21,130)
Proceeds and repayments of short term credit facility, net 175,000 (78,222)
Proceeds from long-term obligations   10,446
Repayments of long-term obligations (2,386) (3,227)
Dividends paid (23,031) (21,377)
Proceeds from stock option exercises 18,602 20,939
Purchase of treasury stock   (15,000)
Net Cash Provided (Used) by Financing Activities 174,303 (90,788)
Effect of Exchange Rate Changes on Cash (3,381) 2,809
Net Increase (Decrease) in Cash and Equivalents and Restricted Cash 167,870 (49,446)
Cash and Equivalents and Restricted Cash at Beginning of Period 246,973 266,823
Cash and Equivalents and Restricted Cash at End of Period $ 414,843 $ 217,377