XML 27 R9.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net income $ 104,778 $ 147,266 $ 191,355
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 72,506 76,320 73,991
Non-cash lease expense 44,518 48,704 46,163
Stock-based compensation 12,367 23,194 24,060
Foreign currency (gains)/losses 8,245 7,056 (287)
Loss on disposal of assets 33 13,026 3,209
Impairment of fixed assets and other intangibles 9,916 31,892 0
Unrealized (gain)/losses on equity investments 0 (18,077) 0
Deferred taxes (51,626) 5,821 (11,914)
Changes in operating assets and liabilities:      
Accounts receivable, net (11,449) 20,219 (11,207)
Inventories, net 40,314 (95,320) (31,137)
Prepaid expenses and other 2,758 15,132 (153)
Other assets 3,099 (19,792) (31,616)
Accounts payable 9,263 (13,279) 24,836
Accrued expenses (120,833) (104,992) 87,452
Other liabilities (15,827) 4,412 14,389
Net cash provided by operating activities 108,062 141,582 379,141
Cash flows from investing activities:      
Purchases of property and equipment (59,056) (68,615) (63,823)
Proceeds on investment sales 5,932 15,094 14,037
Purchases of investments (13,955) (16,242) (14,693)
Acquisitions (net of cash acquired) 0 (18,963) (14,949)
Net cash used in investing activities (67,079) (88,726) (79,428)
Cash flows from financing activities:      
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards 27,052 13,861 5,764
Payment of cash dividends (77,015) (76,272) (78,387)
Repurchase of shares of common stock (70,045) (80,420) (144,334)
Finance lease principal payments (1,919) (1,871) (709)
Payment of debt issuance cost (5,077) 0 0
Payments on debt (432,500) (115,000) (142,500)
Proceeds from debt 460,000 155,000 115,000
Net cash used in financing activities (99,504) (104,702) (245,166)
Effect of exchange rate changes on cash (16,347) (11,244) 12,506
Net increase (decrease) in cash and cash equivalents (74,868) (63,090) 67,053
Cash and cash equivalents, beginning of period 339,593 402,683 335,630
Cash and cash equivalents, end of period $ 264,725 $ 339,593 $ 402,683