v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Net Cash Provided by (Used in) Operating Activities [Abstract]      
Net income (loss) $ (32,731) $ (11,759) $ 76,278
Cash flows from operating activities:      
Depreciation, amortization and other impairment charges 217,109 219,710 262,919
Stock-based compensation expense 34,065 38,955 35,350
Non-cash interest expense 2,742 3,921 4,752
Gain on investment in ESAB Corporation 0 (102,669) 0
Gain on cost basis investments 0 (8,800) 0
Unrealized gain on currency hedges (24,311) 0 0
Debt extinguishment charges 7,333 20,396 29,870
Deferred income tax expense (benefit) (27,412) 6,320 (22,188)
(Gain) loss on sale of property, plant and equipment (14,539) 352 (2,573)
Pension settlement gain 0 0 (11,208)
Changes in operating assets and liabilities:      
Trade receivables, net (16,316) (45,189) (110,985)
Inventories, net (24,737) (118,791) (129,967)
Accounts payable (6,638) (11,843) 178,467
Other operating assets and liabilities 20,423 (46,464) 45,384
Net Cash Provided by (Used in) Operating Activities, Total 134,988 (55,861) 356,099
Cash flows from investing activities:      
Purchases of property, plant and equipment and intangibles (122,223) (105,450) (104,237)
Proceeds from sale of property, plant and equipment 32,571 2,746 7,033
Payments for acquisitions, net of cash received, and investments (152,815) (73,684) (223,272)
Net Cash Provided by (Used in) Investing Activities, Total (242,467) (176,388) (320,476)
Cash flows from financing activities:      
Proceeds from borrowings on term credit facility 0 450,000 0
Repayments of borrowings under term credit facility (219,468) (785,000) 0
Proceeds from borrowings on revolving credit facilities and other 455,000 65,000 991,494
Repayments of borrowings on revolving credit facilities and other (478,337) (634,883) (417,526)
Repayments of borrowings on senior notes 0 (686,278) (700,000)
Proceeds from borrowings on senior unsecured convertible notes 460,000 0 0
Distribution from ESAB Corporation, net 0 1,143,369 0
Payment of debt issuance costs (25,676) (2,938) 0
Proceeds from issuance of common stock, net 1,776 5,814 745,179
Payment of debt extinguishment costs 0 (12,704) (24,375)
Payment of capped call transactions (61,962) 0 0
Deferred consideration payments and other (3,536) (7,507) (9,866)
Net cash provided by (used in) financing activities 127,797 (465,127) 584,906
Effect of foreign exchange rates on Cash and cash equivalents 219 2,301 (2,228)
Increase (decrease) in Cash and cash equivalents and restricted cash 20,537 (695,075) 618,301
Cash, cash equivalents and restricted cash, beginning of period 24,295 719,370 101,069
Cash, cash equivalents and restricted cash, end of period 44,832 24,295 719,370
Supplemental disclosures:      
Interest payments 16,328 37,089 85,487
Income tax payments, net 12,515 31,360 47,188
Common stock issued for acquisition, net of issuance costs 0 0 285,680
ESAB Corporation shares exchanged for debt, net of fees $ 0 $ 230,532 $ 0