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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net income $ 353,987 $ 333,995 $ 266,447
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain (Loss) on Disposition of Property Plant Equipment 558 1,317 160
Depreciation and amortization 74,707 60,890 42,477
Noncash lease expense 14,205 11,327 9,562
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory 0 13,572 0
Equity Method Investment, Realized Gain (Loss) on Disposal (281) 914 (2,276)
Deferred income taxes (7,541) (13,156) (915)
Share-based Payment Arrangement, Noncash Expense 23,859 14,980 17,715
Provision for doubtful accounts 730 1,146 393
Foreign Currency Transaction Gain, before Tax (3,860) (2,690) 0
Changes in operating assets and liabilities, (net of amounts acquired from ETANCO see Note 3)      
Trade accounts receivable (13,051) 19,763 (67,993)
Inventories 15,656 (28,421) (164,202)
Other current assets 734 (6,107) (1,951)
Trade accounts payable (3,066) (4,016) 10,235
Accrued liabilities and other current liabilities (2,806) 20,394 50,548
Other noncurrent assets and liabilities (26,255) (19,625) (13,137)
Net cash provided by operating activities 427,022 399,821 151,295
Cash flows from investing activities      
Capital expenditures (88,824) (62,362) (43,738)
Acquisitions, net of cash acquired (23,353) (805,904) (218)
Purchases of intangible assets 0 (4,861) (5,856)
Purchases of equity investments (1,361) (3,178) (9,829)
Termination forward contracts 0 3,535 0
Proceeds from sale of property and equipment 1,743 2,526 836
Proceeds from sale of a business 8,544 0 0
Net cash used in investing activities (103,251) (870,244) (58,805)
Cash flows from financing activities      
Proceeds from lines of credit 2,276 717,268 16,752
Repayments of line of credit (98,679) (134,120) (16,408)
Termination of cash flow hedge 0 21,252 0
Debt issuance costs 0 (6,804) (819)
Repurchase of common stock (50,000) (78,622) (24,125)
Dividends paid (45,201) (43,895) (41,619)
Cash paid on behalf of employees for shares withheld (7,430) (9,553) (5,397)
Net Cash Provided by (Used in) Financing Activities, Total (199,034) 465,526 (71,616)
Effect of exchange rate changes on cash 4,343 4,484 5,642
Net increase (decrease) in cash and cash equivalents 129,080 (413) 26,516
Cash and cash equivalents at beginning of year 300,742 301,155 274,639
Cash and cash equivalents at end of year 429,822 300,742 301,155
Cash paid during the year for      
Interest 16,439 17,028 1,597
Income taxes 123,400 113,208 83,662
Noncash activity during the year for      
Noncash capital expenditures 11,139 1,671 99
Contingent consideration for acquisitions 1,189 6,500 0
Issuance of Company’s common stock for compensation 1,940 960 691
Dividends declared but not paid 11,518 11,223 10,806
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory 0 13,572 0
Equity Method Investment, Realized Gain (Loss) on Disposal $ 281 $ (914) $ 2,276