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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities      
Net income $ 266,447 $ 187,000 $ 133,982
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss (gain) on sale of assets and other 2,116 (318) (6,023)
Depreciation and amortization 42,477 38,767 38,402
Noncash lease expense 9,562 6,984 7,136
Deferred income taxes (915) 3,179 2,557
Noncash compensation related to stock plans 17,715 13,507 10,434
Provision for (benefit from ) doubtful accounts 393 (98) 977
Changes in operating assets and liabilities, net of effects of acquisitions and dispositions:      
Trade accounts receivable (67,993) (22,107) 6,096
Inventories (164,202) (27,219) 23,655
Other current assets (1,951) (845) (3,808)
Trade accounts payable 10,235 11,360 (845)
Accrued liabilities and other current liabilities 50,548 7,754 (145)
Other noncurrent assets and liabilities (13,137) (10,392) (6,756)
Net cash provided by operating activities 151,295 207,572 205,662
Cash flows from investing activities      
Capital expenditures (43,738) (32,579) (32,699)
Acquisitions, net of cash acquired (218) (2,797) (2,650)
Purchases of intangible assets (5,856) (5,330) (4,827)
Purchases of Equity investments (9,829) 0 0
Proceeds from sale of property and equipment 836 853 12,155
Net cash used in investing activities (58,805) (39,853) (28,021)
Cash flows from financing activities      
Proceeds from lines of credit 16,752 169,164 16,647
Repayments of line of credit and capital leases (16,408) (170,680) (17,883)
Debt issuance costs (819) (712) 0
Repurchase of common stock (24,125) (76,189) (60,816)
Dividends paid (41,619) (40,400) (40,197)
Cash paid on behalf of employees for shares withheld (5,397) (7,960) (5,905)
Net Cash Provided by (Used in) Financing Activities, Total (71,616) (126,777) (108,154)
Effect of exchange rate changes on cash 5,642 3,487 543
Net increase in cash and cash equivalents 26,516 44,429 70,030
Cash and cash equivalents at beginning of year 274,639 230,210 160,180
Cash and cash equivalents at end of year 301,155 274,639 230,210
Cash paid during the year for      
Interest 1,597 1,598 143
Income taxes 83,662 63,035 37,730
Noncash activity during the year for      
Noncash capital expenditures 99 3,719 557
Contingent consideration for acquisition 0 547 0
Issuance of Company’s common stock for compensation 691 341 292
Dividends declared but not paid $ 10,806 $ 9,999 $ 10,170