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 $ 393,913 $ 902,987 $ 123,579
Adjustments to reconcile net income to net cash flows provided by operating activities:      
Depreciation 144,577 146,274 154,526
Amortization 37,602 38,039 38,925
Share-based compensation 69,072 60,081 60,168
Bad debt expense 18,279 1,202 9,149
Inventory obsolescence 64,916 40,881 44,006
Deferred income taxes 69,510 56,658 (5,300)
(Income) from equity method investments (25,429) (11,842) (10,752)
Loss on extinguishment of long-term borrowings 0 101,695 0
(Gain) loss on sale of assets/business, net (26,905) (23,823) 1,028
Release of valuation allowances on deferred tax assets 0 (540,803) 0
Loss on liquidation of subsidiary 45,366 0 0
Changes in assets and liabilities:      
Accounts receivable 197,902 (85,603) (92,280)
Inventories (203,522) (330,899) (42,193)
Prepaid expenses and other current assets (11,960) (26,533) (20,039)
Accounts payable, accrued liabilities, and income taxes payable (320,442) 207,143 17,403
Other, net (10,037) (49,994) 7,476
Net cash flows provided by operating activities 442,842 485,463 285,696
Cash Flows From Investing Activities:      
Purchases of tools, dies, and molds (80,175) (74,222) (59,404)
Purchases of other property, plant, and equipment (106,328) (77,131) (59,389)
(Payments of) proceeds from foreign currency forward exchange contracts, net (520) 1,585 (22,883)
Proceeds from sale of assets/business 38,148 43,649 5,815
Other, net 4,650 1,022 3,757
Net cash flows used for investing activities (144,225) (105,097) (132,104)
Cash Flows From Financing Activities:      
(Payments of) proceeds from short-term borrowings, net 0 (969) 969
Payments of long-term borrowings (250,000) (1,575,997) 0
Proceeds from long-term borrowings, net 0 1,184,913 0
Tax withholdings for share-based compensation (30,440) (19,987) (7,263)
Proceeds from stock option exercises 27,750 12,131 64
Other, net (7,949) (2,165) 388
Net cash flows used for financing activities (260,639) (402,074) (5,842)
Effect of Currency Exchange Rate Changes on Cash and Equivalents (8,105) (9,111) (15,597)
Change in Cash and Equivalents 29,873 (30,819) 132,153
Cash and Equivalents at Beginning of Period 731,362 762,181 630,028
Cash and Equivalents at End of Period 761,235 731,362 762,181
Cash paid during the year for:      
Income taxes, gross 89,617 93,129 99,495
Interest $ 129,217 $ 210,140 $ 190,674