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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net earnings $ 51,393 $ 67,138
Adjustments to arrive at net cash provided by operating activities:    
Depreciation and amortization 24,522 27,741
Share-based compensation 2,662 (1,155)
Net loss (gain) on assets 50 (75)
Loss on divestitures 6,634 0
Deferred income taxes 1,075 (909)
Changes in operating assets and liabilities:    
Trade accounts receivable (20,494) (17,131)
Inventories 24,816 29,201
Prepaid expenses and other assets (3,975) (3,395)
Accounts payable and other accrued expenses 9,961 (21,401)
Accrued salaries, wages and withholdings from employees 6,483 (2,598)
Income taxes 3,899 (2,631)
Other liabilities 588 1,428
Net cash provided by operating activities 107,614 76,213
Cash flows from investing activities:    
Acquisition of property, plant, and equipment (21,417) (16,606)
Proceeds from sale of assets 6 91
Proceeds from divesture of businesses 11,255 0
Other investing activities 4,395 (454)
Net cash used in investing activities (5,761) (16,969)
Cash flows from financing activities:    
Proceeds from additional borrowings 38,670 25,003
Debt payments (98,849) (55,182)
Dividends paid (33,018) (30,453)
Other financing activities (414) (1,028)
Net cash used in financing activities (93,611) (61,660)
Effect of exchange rate changes on cash and cash equivalents (8,519) 397
Net decrease in cash and cash equivalents (277) (2,019)
Cash and cash equivalents at beginning of period 21,153 31,901
Cash and cash equivalents at end of period $ 20,876 $ 29,882