XML 25 R9.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities      
Net earnings $ 269,096 $ 175,810 $ 143,911
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 92,021 91,153 95,878
Write-off of assets relating to restructuring and other exit charges 24,229 8,920 6,503
Loss on assets held for sale 0 0 2,973
Impairment of indefinite-lived intangibles 13,619 480 1,178
Derivatives not designated in hedging relationships:      
Net losses (gains) 846 (1,182) 157
Cash proceeds (settlements) (255) 470 255
Provision for doubtful accounts 1,873 (431) 2,621
Deferred income taxes (29,344) (15,236) 1,115
Non-cash interest expense 2,450 1,964 2,107
Stock-based compensation 30,607 26,371 24,289
Gain on disposal of property, plant, and equipment 908 (113) (490)
Changes in assets and liabilities, net of effects of acquisitions:      
Accounts receivable 108,631 67,553 (128,956)
Inventories 75,633 (96,413) (212,839)
Prepaid and other current assets (112,701) 23,689 (32,044)
Other assets 6,027 (6,298) 270
Accounts payable (15,131) (4,236) 65,316
Accrued expenses (8,254) 5,747 (38,578)
Other liabilities (3,226) 1,690 749
Net cash provided by (used in) operating activities 457,029 279,938 (65,585)
Cash flows from investing activities      
Capital expenditures (86,437) (88,772) (74,041)
Purchase of businesses (8,270) 0 0
Proceeds from disposal of facility 0 0 3,268
Proceeds from disposal of property, plant, and equipment 2,228 586 1,540
Proceeds from termination of net investment hedges 0 43,384 0
Net cash used in investing activities (92,479) (44,802) (69,233)
Cash flows from financing activities      
Net borrowings (repayments) on short-term debt (231) (21,719) 20,556
Proceeds from Second Amended Revolver borrowings 182,500 310,500 523,400
Repayments of Second Amended Revolver borrowings (427,500) (500,500) (88,400)
Proceeds from Amended 2017 Term Loan 0 300,000 0
Proceeds from 2032 Bonds 300,000 0 0
Repayments of 2023 Senior Notes 0 (300,000) 0
Repayments of Second and Third Amended Term Loan 293,889 5,215 161,447
Debt issuance costs (4,061) (1,121) (2,952)
Finance lease obligations and other 1,169 1,110 810
Option proceeds, net 10,786 4,392 1,336
Payment of taxes related to net share settlement of equity awards (9,166) (6,453) (9,150)
Purchase of treasury stock (95,688) (22,907) (156,366)
Dividends paid to stockholders (34,480) (28,537) (29,353)
Net cash (used in) provided by financing activities (370,560) (270,450) 98,434
Effect of exchange rate changes on cash and cash equivalents (7,331) (20,509) (12,936)
Net (decrease) increase in cash and cash equivalents (13,341) (55,823) (49,320)
Cash and cash equivalents at beginning of year 346,665 402,488 451,808
Cash and cash equivalents at end of year $ 333,324 $ 346,665 $ 402,488