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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income $ 333,995 $ 266,447 $ 187,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain (Loss) on Disposition of Property Plant Equipment 1,317 160 332
Depreciation and amortization 60,890 42,477 38,767
Noncash lease expense 11,327 9,562 6,984
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory 13,572 0 0
Equity Method Investment, Realized Gain (Loss) on Disposal 914 (2,276) (14)
Deferred income taxes (13,156) (915) 3,179
Share-based Payment Arrangement, Noncash Expense 14,980 17,715 13,507
Provision for (benefit from ) doubtful accounts 1,146 393 (98)
Foreign Currency Transaction Gain, before Tax (2,690) 0 0
Changes in operating assets and liabilities, (net of amounts acquired from ETANCO see Note 3)      
Trade accounts receivable 19,763 (67,993) (22,107)
Inventories (28,421) (164,202) (27,219)
Other current assets (6,107) (1,951) (845)
Trade accounts payable (4,016) 10,235 11,360
Accrued liabilities and other current liabilities 20,394 50,548 7,754
Other noncurrent assets and liabilities (19,625) (13,137) (10,392)
Net cash provided by operating activities 399,821 151,295 207,572
Cash flows from investing activities      
Capital expenditures (62,362) (43,738) (32,579)
Acquisitions, net of cash acquired (See Note 3) (805,904) (218) (2,797)
Purchases of intangible assets (4,861) (5,856) (5,330)
Purchases of Equity investments (3,178) (9,829) 0
Termination forward contracts 3,535 0 0
Proceeds from sale of property and equipment 2,526 836 853
Net cash used in investing activities (870,244) (58,805) (39,853)
Cash flows from financing activities      
Proceeds from lines of credit 717,268 16,752 169,164
Repayments of line of credit and capital leases (134,120) (16,408) (170,680)
Termination of cash flow hedge 21,252 0 0
Debt issuance costs (6,804) (819) (712)
Repurchase of common stock (78,622) (24,125) (76,189)
Dividends paid (43,895) (41,619) (40,400)
Cash paid on behalf of employees for shares withheld (9,553) (5,397) (7,960)
Net Cash Provided by (Used in) Financing Activities, Total 465,526 (71,616) (126,777)
Effect of exchange rate changes on cash 4,484 5,642 3,487
Net increase (decrease) in cash and cash equivalents (413) 26,516 44,429
Cash and cash equivalents at beginning of year 301,155 274,639 230,210
Cash and cash equivalents at end of year 300,742 301,155 274,639
Cash paid during the year for      
Interest 17,028 1,597 1,598
Income taxes 113,208 83,662 63,035
Noncash activity during the year for      
Noncash capital expenditures 1,671 99 3,719
Contingent consideration for intangible acquisition 6,500 0 547
Issuance of Company’s common stock for compensation 960 691 341
Dividends declared but not paid 11,223 10,806 9,999
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory 13,572 0 0
Equity Method Investment, Realized Gain (Loss) on Disposal $ (914) $ 2,276 $ 14