XML 35 R6.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 76,021 $ 86,417
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 33,523 30,948
Amortization of debt issuance costs 1,562 1,734
Gain on sale of business 0 (5,877)
Share-based compensation 8,133 7,206
Loss on debt financing 0 485
Amortization of intangible assets 38,515 40,774
Deferred income taxes 2,574 6,491
Loss on equity investments, net 13,287 0
Unrealized (gain)/loss on derivative instruments and other (4,184) 3,107
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Accounts receivable, net (19,156) (17,370)
Inventories (8,677) (13,687)
Prepaid expenses and other current assets (8,920) (19,668)
Accounts payable and accrued expenses (29,447) (27,586)
Income taxes payable 1,809 6,882
Other 1,447 32
Acquisition-related compensation payments 0 (3,000)
Net cash provided by operating activities 106,487 96,888
Cash flows from investing activities:    
Additions to property, plant and equipment and capitalized software (42,130) (36,882)
Proceeds from the sale of business, net of cash sold 0 14,000
Net cash used in investing activities (42,130) (22,882)
Cash flows from financing activities:    
Proceeds from exercise of stock options and issuance of ordinary shares 0 2,762
Payment of employee restricted stock tax withholdings (129) (123)
Payments on debt (279) (250,944)
Dividends paid (18,056) (16,777)
Payments to repurchase ordinary shares (10,052) 0
Purchase of noncontrolling interest in joint venture (79,393) 0
Payments of debt financing costs (39) (308)
Net cash used in financing activities (107,948) (265,390)
Effect of exchange rate changes on cash and cash equivalents (4,154) 0
Net change in cash and cash equivalents (47,745) (191,384)
Cash and cash equivalents, beginning of year 508,104 1,225,518
Cash and cash equivalents, end of period $ 460,359 $ 1,034,134