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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating activities:    
Net income $ 127,357 $ 118,663
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 70,405 68,535
Loss (gain) on disposition of property, plant and equipment 124 (96)
Stock compensation expense 8,850 8,472
Changes in assets and liabilities, net of the effects of acquisitions:    
Accounts receivable (12,136) (26,773)
Inventories (24,525) (11,454)
Prepaid expenses and other current assets (7,186) (2,398)
Accounts payable 4,824 14,134
Accrued liabilities 9,765 28,889
Deferred income taxes (13,758) (18,063)
Long-term retirement benefits 544 (11,469)
Long-term tax liability (7,465) 0
Other 1,162 (677)
Net cash provided by operating activities 157,961 167,763
Investing activities:    
Proceeds from disposition of property, plant and equipment 491 401
Capital expenditures (40,168) (41,957)
Business acquisitions, net of cash acquired (30,837) (8,922)
Revenue sharing program payments (5,800) 0
Other (1,000) (3,000)
Net cash used by investing activities (77,314) (53,478)
Financing activities:    
Net change in other borrowings (5,542) (14,103)
Payments on long-term debt (381,887) (60,897)
Proceeds from the issuance of long-term debt 414,989 89,118
Proceeds from the issuance of common stock 721 1,731
Common stock repurchases (138,275) (23,300)
Dividends paid (23,996) (22,042)
Withholding taxes paid on stock issuances (5,149) (4,851)
Other (3,598) (17,773)
Net cash used by financing activities (142,737) (52,117)
Effect of exchange rate changes on cash flows (3,813) 5,856
(Decrease) increase in cash and cash equivalents (65,903) 68,024
Cash and cash equivalents at beginning of period 145,290 66,447
Cash and cash equivalents at end of period $ 79,387 $ 134,471