XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net income $ 209,072 $ 76,774
Adjustments to reconcile net income to cash flows provided by operating activities    
Depreciation and amortization 30,816 31,058
Unrealized foreign exchange gains (1,721) (518)
Amortization of debt issuance costs 1,337 961
Share-based compensation 20,822 10,077
Loss on disposals of property, plant and equipment 146 2
Deferred income taxes 16,633 1,739
Changes in operating assets and liabilities    
Accounts receivable (105,707) (49,494)
Inventories 26,242 79,751
Accounts payable 26,627 (5,197)
Accrued taxes 24,366 (5,453)
Other assets and liabilities 31,458 27,411
Cash flows provided by operating activities 280,091 167,111
Cash flows from investing activities    
Additions to property, plant and equipment (19,210) (15,387)
Cash flows used in investing activities (19,210) (15,387)
Cash flows from financing activities    
Repayments of short-term borrowings, net (2,177) (14,232)
Repayments of term loan facility (13,125) (13,125)
Purchases of common stock (30,146) (6,976)
Debt issuance costs 0 (966)
Dividends paid on common stock (37,058) (34,550)
Dividends paid to noncontrolling interests (1,360) (4,302)
Payment of employee restricted stock tax withholdings (3,946) (496)
Cash flows used in financing activities (87,812) (74,647)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (4,015) 1,342
Net increase in cash, cash equivalents and restricted cash 169,054 78,419
Cash, cash equivalents and restricted cash, beginning of year 151,452 34,184
Cash, cash equivalents and restricted cash, end of period 320,506 112,603
Supplemental information    
Non-cash additions to property, plant and equipment 3,105 446
Non-cash additions to right-of-use assets obtained in exchange for operating lease obligations 7,341 7,107
Non-cash additions to right-of-use assets obtained in exchange for finance lease obligations 150 427
Dividend equivalents rights ("DERs") declared not paid 1,537 750
Share repurchase liability (Note 10) $ 0 $ 6,976