| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
86,920 | 121,310 | 64,860 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation of property, plant and equipment and amortization of intangible assets | ||||||
96,713 | 98,156 | 98,356 | ||||
Amortization of debt issuance costs | ||||||
2,082 | 2,220 | 4,171 | ||||
Share-based incentive compensation | ||||||
9,438 | 13,919 | 8,835 | ||||
Deferred tax (benefit)/provision | ||||||
15,826 | -3,634 | -7,667 | ||||
Foreign currency transactions | ||||||
-1,052 | -2,782 | 14,402 | ||||
Other operating non-cash items | ||||||
-1,813 | -1,165 | -15,163 | ||||
Changes in operating assets and liabilities, net of effects of businesses acquired: | ||||||
(Increase)/decrease in trade receivables | ||||||
-45,412 | 39,680 | 15,885 | ||||
(Increase)/decrease in inventories | ||||||
-16,413 | 31,406 | 25,632 | ||||
Increase/(decrease) in trade payables | ||||||
-12,036 | 5,444 | 17,545 | ||||
Increase/(decrease) in provisions | ||||||
10,375 | 4,427 | 12,317 | ||||
Increase/(decrease) in tax liabilities | ||||||
-7,254 | 4,843 | -11,954 | ||||
Increase/(decrease) in other assets and liabilities that cannot be allocated to investing or financing activities | ||||||
14,497 | 48,707 | -26,666 | ||||
Net cash provided by operating activities | ||||||
231,507 | 121,985 | 147,739 | ||||
Cash flows from investing activities: | ||||||
Cash paid for the acquisition of intangible assets and property, plant and equipment | ||||||
155,848 | 116,157 | 90,282 | ||||
Acquisition of businesses, net of cash and cash equivalents acquired | ||||||
0 | 36,571 | 0 | ||||
Cash received from the disposal of intangible assets and property, plant and equipment | ||||||
0 | 64,672 | 0 | ||||
Net cash used in investing activities | ||||||
-155,848 | -88,056 | -90,282 | ||||
Cash flows from financing activities: | ||||||
Proceeds from borrowings | ||||||
0 | 0 | 11,890 | ||||
Payments for debt issue costs | ||||||
1,721 | 741 | 5,327 | ||||
Repayments of long-term debt | ||||||
8,036 | 8,288 | 28,866 | ||||
Cash inflows related to current financial liabilities | ||||||
96,956 | 48,963 | 11,652 | ||||
Cash outflows related to current financial liabilities | ||||||
101,303 | 26,370 | 12,141 | ||||
Dividends paid to shareholders | ||||||
48,033 | 47,665 | 45,705 | ||||
Repurchase of common stock | ||||||
0 | 4,926 | 0 | ||||
Taxes paid for shares issued under net settlement feature | ||||||
6,475 | 4,741 | 0 | ||||
Net cash used in financing activities | ||||||
-68,612 | -43,768 | -68,497 | ||||
Increase (decrease) in cash, cash equivalents and restricted cash | ||||||
7,047 | -9,839 | -11,040 | ||||
Effect of exchange rate changes on cash | ||||||
-420 | -3,770 | 5,773 | ||||
Cash paid for interest, net | ||||||
20,399 | 24,367 | 25,905 | ||||
Cash (paid) for income taxes | ||||||
24,106 | 60,228 | 39,549 | ||||
Supplemental disclosure of non-cash activity: | ||||||
Liabilities under build-to-suit lease | ||||||
0 | 28,657 | 0 | ||||
Liabilities for leasing - current | ||||||
6,254 | - | - | ||||
Liabilities for leasing - non-current | ||||||
26,280 | - | - | ||||