XML 15 R6.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows From Operating Activities:    
Net income $ 67,034 $ 377,776
Adjustments to reconcile net income to net cash flows used for operating activities:    
Depreciation 104,042 108,450
Amortization 28,570 28,304
Share-based compensation 52,425 55,941
Bad debt expense 178 7,029
Inventory obsolescence 42,245 35,410
Deferred income taxes 26,283 82,673
Income from equity method investments (13,306) (18,419)
Loss (gain) on sale of assets, net 1,408 (15,960)
Valuation allowance on foreign deferred tax assets 212,379 0
Changes in assets and liabilities:    
Accounts receivable, net (714,198) (348,229)
Inventories 42,701 (401,845)
Prepaid expenses and other current assets (4,768) (38,985)
Accounts payable, accrued liabilities, and income taxes payable 125,775 (126,552)
Other, net (50,409) (20,360)
Net cash flows used for operating activities (79,641) (274,767)
Cash Flows From Investing Activities:    
Purchases of tools, dies, and molds (56,741) (57,955)
Purchases of other property, plant, and equipment (60,797) (69,373)
Proceeds from foreign currency forward exchange contracts, net 20,021 3,247
Proceeds from sale of assets 6,336 25,839
Other, net (2,731) 749
Net cash flows used for investing activities (93,912) (97,493)
Cash Flows From Financing Activities:    
Share repurchases (109,860) 0
Tax withholdings for share-based compensation (32,822) (30,327)
Proceeds from stock option exercises 26,014 27,658
Other, net (2,783) (6,795)
Net cash flows used for financing activities (119,451) (9,464)
Effect of Currency Exchange Rate Changes on Cash and Equivalents (12,496) (668)
Decrease in Cash and Equivalents (305,500) (382,392)
Cash and Equivalents at Beginning of Period 761,235 731,362
Cash and Equivalents at End of Period $ 455,735 $ 348,970