XML 16 R6.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Statement of Cash Flows [Abstract]    
Net income $ 122,872 $ 90,305
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss/(gain) on sale of assets and other 118 (147)
Depreciation and amortization 22,753 19,739
Noncash lease expense 4,914 4,025
Loss in equity method investment, before tax 2,653 0
Deferred income taxes 1,144 1,973
Noncash compensation related to stock plans 10,245 5,428
Provision of doubtful accounts (377) (35)
Changes in operating assets and liabilities:    
Trade accounts receivable (84,702) (95,875)
Inventories (27,270) (14,377)
Trade accounts payable 10,774 15,268
Other current assets (14,802) (4,529)
Accrued liabilities and other current liabilities 35,879 22,923
Other noncurrent assets and liabilities (2,569) (1,932)
Net cash provided by operating activities 81,632 42,766
Cash flows from investing activities    
Capital expenditures (19,296) (14,083)
Asset acquisitions, net of cash acquired (218) 0
Equity method investments (6,829) 0
Proceeds from sale of property and equipment 129 639
Net cash used in investing activities (26,214) (13,444)
Cash flows from financing activities    
Repurchase of common stock 0 (62,679)
Proceeds from lines of credit 0 159,412
Repayments of lines of credit and capital leases (384) (10,387)
Debt issuance costs 0 (712)
Dividends paid (19,956) (20,158)
Cash paid on behalf of employees for shares withheld (5,263) (7,743)
Net cash provided by (used in) financing activities (25,603) 57,733
Effect of exchange rate changes on cash and cash equivalents 1,342 (1,817)
Net increase in cash and cash equivalents 31,157 85,238
Cash and cash equivalents at beginning of period 274,639 230,210
Cash and cash equivalents at end of period 305,796 315,448
Noncash activity during the period    
Noncash capital expenditures 1,462 1,308
Dividends declared but not paid 10,847 9,989
Issuance of Company’s common stock for compensation $ 692 $ 322