XML 24 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Cash Flow Statements - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 242,556 $ 254,822 $ 64,317
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 99,446 88,738 87,988
Share-based compensation 21,024 23,676 24,871
Loss on debt extinguishment 0 6,392 5,715
Asset impairments 0 0 140,461
Deferred income tax expense (benefit) (12,957) (627) 3,575
Gain on sale of assets (12,056) (37,891) 0
Changes in operating assets and liabilities, net of the effects of exchange rate changes, acquired businesses, and disposals:      
Receivables 24,527 (33,605) (119,012)
Inventories (15,331) 5,558 (92,984)
Accounts payable (8,175) (20,595) 135,666
Accrued liabilities (16,292) (5,416) 61,241
Income taxes (3,668) 2,335 (6,448)
Other assets (9,314) 2,881 (12,693)
Other liabilities 9,878 (4,972) (20,642)
Net cash provided by operating activities 319,638 281,296 272,055
Cash flows from investing activities:      
Capital expenditures (116,731) (105,094) (90,982)
Cash used for acquisitions and investments, net of cash acquired (106,712) (104,603) (73,340)
Purchase of intangible assets 0 0 (3,650)
Proceeds from disposal of businesses, net of cash sold 9,300 334,574 45,735
Proceeds from disposal of tangible assets 13,785 43,534 30,234
Net cash provided by (used for) investing activities (200,358) 168,411 (92,003)
Cash flows from financing activities:      
Payments under share repurchase program (192,135) (150,000) 0
Withholding tax payments for share-based payment awards (17,444) (7,186) (5,570)
Cash dividends paid (8,498) (8,949) (9,056)
Payments under financing lease obligations (423) (157) (3,151)
Payments under borrowing arrangements 0 (230,639) (360,304)
Debt issuance costs paid 0 0 (8,173)
Payments to noncontrolling interest holders 0 0 (2,682)
Proceeds from issuance of common stock 6,568 3,717 0
Borrowings under credit arrangements 0 0 356,010
Net cash used for financing activities (211,932) (393,214) (32,926)
Effect of foreign currency exchange rate changes on cash and cash equivalents 2,020 (12,574) (5,363)
Increase (decrease) in cash and cash equivalents (90,632) 43,919 141,763
Cash and cash equivalents, beginning of year 687,676 643,757 501,994
Cash and cash equivalents, end of year $ 597,044 $ 687,676 $ 643,757