XML 22 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows from Operating Activities:    
Net income $ 115,069 $ 116,994
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 75,703 69,638
Amortization 5,573 4,935
Stock based compensation 10,903 11,719
Provision for (recovery of) doubtful accounts 196 49
Gain on disposition of fixed assets (1,036) (164)
Deferred income taxes (4,027) 1,091
Defined benefit plan expense 9,688 8,547
Equity in results of affiliates 85 70
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (92,388) (45,760)
Inventories (30,787) (5,971)
Prepaid and other current assets 4,038 (10,602)
Accounts payable and accrued liabilities 61,727 29,147
Income taxes payable 10,541 (2,150)
Retirement and deferred compensation plan liabilities (3,356) (22,331)
Other changes, net (7,420) (6,290)
Net Cash Provided by Operations 154,509 148,922
Cash Flows from Investing Activities:    
Capital expenditures (91,753) (66,705)
Proceeds from sale of property and equipment 3,961 978
Insurance proceeds 10,631  
Acquisition of business, net of cash acquired (3,510)  
Acquisition of intangible assets (124)  
Investment in unconsolidated affiliate (10,000) (5,000)
Notes receivable, net 109 396
Net Cash Used by Investing Activities (90,686) (70,331)
Cash Flows from Financing Activities:    
Proceeds from notes payable 8,815  
Repayments of notes payable (5,256)  
Proceeds and repayments of short term credit facility, net   (167,014)
Proceeds from long-term obligations 4,617 2,535
Repayments of long-term obligations (5,403) (4,727)
Dividends paid (39,810) (39,932)
Proceeds from stock option exercises 46,420 60,484
Purchase of treasury stock (3,905) (26,728)
Common stock repurchased and retired (57,787) (40,994)
Net Cash Provided (Used) by Financing Activities (52,309) (216,376)
Effect of Exchange Rate Changes on Cash (6,063) 8,413
Net Increase (Decrease) in Cash and Equivalents and Restricted Cash 5,451 (129,372)
Cash and Equivalents at Beginning of Period 712,640 466,287
Cash and Equivalents at End of Period $ 718,091 $ 336,915