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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating Activities:      
Net income $ 100,039 $ 222,198 $ 225,355
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 121,600 62,107 62,997
Stock-based compensation expense 19,279 19,062 16,445
Other operating activities, net 6,366 (11,175) (3,652)
Deferred income taxes (33,538) 13,205 9,137
Changes in assets and liabilities      
Increase (Decrease) in Accounts Receivable 47,879 11,453 (22,934)
Inventories 203,827 (47,297) (8,702)
Increase (Decrease) in Other Operating Assets (21,199) (28,785) (4,239)
Accounts payable 54,127 (23,505) (9,193)
Accrued payroll and benefit costs 75,556 (39,081) 18,777
Other current and noncurrent liabilities 78,249 (825) (5,656)
Net cash provided by operating activities 543,931 224,367 296,721
Investing Activities:      
Capital expenditures (56,671) (44,067) (36,210)
Acquisition payments, net of cash acquired (3,707,575) (27,597) 0
Proceeds from sale of assets 6,721 16,795 12,461
Other investing activities, net 22,376 (5,931) (10,393)
Net cash used in investing activities (3,735,149) (60,800) (34,142)
Financing Activities:      
Proceeds from (Repayments of) Short-term Debt (11,258) (29,780) (1,454)
Proceeds from issuance of long-term debt 5,114,210 1,305,421 1,193,067
Repayments of long-term debt (1,513,048) (1,217,434) (1,318,470)
Repurchase of common stock (2,901) (153,049) (127,169)
Debt issuance costs (80,231) (2,707) 0
Payments of Dividends (30,139) 0 0
Other financing activities, net (4,108) 12,217 21,068
Net cash provided (used) by financing activities 3,480,741 (109,766) (275,094)
Effect of exchange rate on cash and cash equivalents 8,710 758 (9,095)
Net change in cash and cash equivalents 298,233 54,559 (21,610)
Cash and cash equivalents at the beginning of period 150,902 96,343 117,953
Cash and cash equivalents at the end of period 449,135 150,902 96,343
Supplemental disclosures:      
Cash paid for interest 169,620 65,275 64,702
Cash paid for taxes $ 56,186 $ 64,531 $ 61,983