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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities:    
Net income $ 97,110 $ 136,920
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 86,901 82,968
Amortization 20,334 12,388
Stock based compensation 17,603 12,978
Provision for CECL 1,089 312
(Gain) loss on disposition of fixed assets (46) 368
Deferred income taxes 9 679
Defined benefit plan expense 11,550 7,699
Equity in results of affiliates 1,127 86
Changes in balance sheet items, excluding effects from acquisitions and foreign currency adjustments:    
Accounts and other receivables (25,625) (28,772)
Inventories (13,241) (18,503)
Prepaid and other current assets (16,936) 546
Accounts payable, accrued and other liabilities 63,256 14,590
Income taxes payable (8,446) 1,840
Retirement and deferred compensation plan liabilities (5,916) (4,652)
Other changes, net (1,083) 1,693
Net Cash Provided by Operations 227,686 221,140
Cash Flows from Investing Activities:    
Capital expenditures (122,986) (124,774)
Proceeds from sale of property, plant and equipment 4,130 1,082
Acquisition of business, net of cash acquired (159,570) (49,131)
Acquisition of intangible assets (3,612) (602)
Investment in equity securities (34,044)  
Proceeds from sale of investment in equity securities   16,487
Notes receivable, net (1,045) (220)
Net Cash Used by Investing Activities (317,127) (157,158)
Cash Flows from Financing Activities:    
Proceeds from notes payable and overdrafts 14,464 31,022
Repayments of notes payable and overdrafts (27,788) (35,490)
Proceeds and repayments of short term credit facility, net 125,000 (38,685)
Proceeds from long-term obligations 1,316 10,446
Repayments of long-term obligations (4,067) (6,546)
Payment of contingent consideration obligations (1,500)  
Dividends paid (46,143) (44,138)
Proceeds from stock option exercises 30,058 70,712
Purchase of treasury stock   (19,096)
Net Cash Provided (Used) by Financing Activities 91,340 (31,775)
Effect of Exchange Rate Changes on Cash 8,522 3,920
Net Increase (Decrease) in Cash and Equivalents and Restricted Cash 10,421 36,127
Cash and Equivalents and Restricted Cash at Beginning of Period 246,973 266,823
Cash and Equivalents and Restricted Cash at End of Period $ 257,394 $ 302,950