Lindsay Corporation Reports Fourth Quarter and Fiscal Year 2026 Results

Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced results for its fourth quarter and fiscal year, which ended on August 31, 2026.

Key Highlights

Fourth Quarter:

  • North America irrigation revenues increased 11 percent

  • International irrigation revenues were comparable to the prior year

  • Infrastructure revenues increased 13 percent, with a third consecutive quarter of road safety products growth

  • Operating income increased 39 percent to $15.8 million

Full-Year:

  • North America irrigation revenues decreased 4 percent as challenging market conditions persisted

  • Delivered approximately $70 million of the $80 million project in the Middle East North Africa region

  • Infrastructure revenues decreased 13 percent, as a $20.0M Road Zipper project in the prior year did not repeat

  • Returned $96.1 million to shareholders through $80.7 million of share repurchases and $15.4 million of dividends

“North America irrigation revenue and unit volume increased in the fourth quarter, supported by stronger commodity prices and improving farmer sentiment,” said Randy Wood, President and Chief Executive Officer. “In the Middle East North Africa (MENA) region we completed delivery of approximately $70 million of the $80 million project that began in our fiscal second quarter. We expect to recognize the majority of the remaining $10 million in services revenue over the next 12 to 24 months. In Brazil, limited credit availability and low farmer profitability continued to pressure demand. We continue to be encouraged by the strong performance across our infrastructure business, which delivered double-digit percent revenue and operating income growth in the fourth quarter, supported by road safety products’ third consecutive quarter of growth.”

Mr. Wood continued, “I’m pleased with the dedication and resiliency of our global team as we continue to demonstrate strong execution despite a volatile macro-economic environment. During the quarter, we took additional actions to better align our cost structure with current market demand and support margins. In June, we implemented a global restructuring that reduced our workforce, which we expect to generate approximately $8.0 million of net annualized savings. We remain focused on strengthening our operating performance, while investing in opportunities that support sustainable, long-term shareholder value creation. In fiscal 2026, we returned $96.1 million to shareholders through share repurchases and dividends, while also funding the largest capital investment in our history at our Lindsay, Nebraska facility. During the year, we announced a new share repurchase authorization of $150.0 million, of which $100.0 million remained available at the end of the fiscal year.”

Fourth Quarter Summary

Consolidated Financial Summary

 

Fourth Quarter

(dollars in millions, except per share amounts)

 

FY 2026

 

FY 2025

 

$ Change

 

% Change

 

 

 

 

 

 

 

 

 

Total revenues

 

$161.6

 

$153.6

 

$8.0

 

5%

Operating income

 

$15.8

 

$11.3

 

$4.5

 

39%

Operating margin

 

9.8%

 

7.4%

 

 

 

 

Net earnings

 

$11.3

 

$10.8

 

$0.5

 

4%

Earnings per share

 

$1.10

 

$0.99

 

$0.11

 

11%

Revenues for the fourth quarter of fiscal 2026 were $161.6 million, an increase of $8.0 million, or 5 percent, compared to revenues of $153.6 million in the prior year. North America irrigation revenues and infrastructure segment revenues were higher, while international irrigation revenues were comparable to the prior year.

Operating income for the fourth quarter of fiscal 2026 was $15.8 million, an increase of $4.5 million, or 39 percent, compared to operating income of $11.3 million in the prior year. Operating margin was 9.8 percent of sales, compared to 7.4 percent of sales in the prior year. The increase in operating income and operating margin resulted from higher revenues and lower operating expenses compared to the prior year.

Net earnings for the fourth quarter of fiscal 2026 were $11.3 million, an increase of $0.5 million, or 4 percent, compared with net earnings of $10.8 million in the prior year. Diluted earnings per share for the quarter of $1.10 reflected an increase of 11 percent compared with diluted earnings per share of $0.99 in the prior year. The year-over-year increase in net earnings resulted from higher operating income, which was partially offset by a higher effective tax rate and lower other income compared to the prior year.

Fourth Quarter Segment Results

Irrigation Segment

 

Fourth Quarter

(dollars in millions)

 

FY 2026

 

FY 2025

 

$ Change

 

% Change

Revenues:

 

 

 

 

 

 

 

 

North America

 

$55.4

 

$50.0

 

$5.4

 

11%

International

 

$78.3

 

$79.0

 

($0.6)

 

(1%)

Total revenues

 

$133.7

 

$129.0

 

$4.7

 

4%

Operating income

 

$17.3

 

$17.7

 

($0.4)

 

(2%)

Operating margin

 

12.9%

 

13.7%

 

 

 

 

Irrigation segment revenues for the fourth quarter of fiscal 2026 were $133.7 million, an increase of $4.7 million, or 4 percent, compared to $129.0 million in the prior year. North America irrigation revenues of $55.4 million increased $5.4 million, or 11 percent, compared to the prior year. The increase in revenues resulted primarily from higher unit sales volume while average selling prices were comparable to the prior year.

International irrigation revenues for the fourth quarter of fiscal 2026 of $78.3 million were comparable to the prior year. Increases in the MENA region and other developed markets were offset by a decrease in Brazil. Revenues in the current year quarter were favorably impacted by the effects of foreign currency translation of approximately $2.4 million compared to the prior year.

Irrigation segment operating income for the fourth quarter of fiscal 2026 of $17.3 million was comparable to the prior year. Operating margin was 12.9 percent of sales, compared to 13.7 percent in the prior year. The decrease in operating margin resulted primarily from higher input costs, which was partially offset by reductions in operating expenses compared to the prior year.

Infrastructure Segment

 

Fourth Quarter

(dollars in millions)

 

FY 2026

 

FY 2025

 

$ Change

 

% Change

 

 

 

 

 

 

 

 

 

Total revenues

 

$27.8

 

$24.5

 

$3.3

 

13%

Operating income

 

$5.0

 

$3.5

 

$1.4

 

41%

Operating margin

 

17.9%

 

14.4%

 

 

 

 

Infrastructure segment revenues for the fourth quarter of fiscal 2026 were $27.8 million, an increase of $3.3 million, or 13 percent, compared to $24.5 million in the prior year. The increase was primarily driven by higher sales of road safety products, which was partially offset by lower Road Zipper System™ sales and lease revenues compared to the prior year.

Infrastructure segment operating income for the fourth quarter of fiscal 2026 was $5.0 million, an increase of $1.4 million, or 41 percent, compared to $3.5 million in the prior year. Operating margin was 17.9 percent of sales, compared to 14.4 percent of sales in the prior year. The increase in operating income and operating margin resulted from increased revenue and a more favorable margin mix of revenues compared to the prior year.

Full-Year Summary

Consolidated Financial Summary

 

Full-Year

(dollars in millions, except per share amounts)

 

FY 2026

 

FY 2025

 

$ Change

 

% Change

 

 

 

 

 

 

 

 

 

Total revenues

 

$635.9

 

$676.4

 

($40.5)

 

(6%)

Operating income

 

$66.9

 

$88.1

 

($21.2)

 

(24%)

Operating margin

 

10.5%

 

13.0%

 

 

 

 

Net earnings

 

$55.7

 

$74.1

 

($18.4)

 

(25%)

Earnings per share

 

$5.33

 

$6.78

 

($1.45)

 

(21%)

Revenues for fiscal 2026 were $635.9 million, a decrease of $40.5 million, or 6 percent, compared to revenues of $676.4 million in the prior year. Irrigation revenues decreased $26.5 million primarily due to lower comparative project sales in the MENA region and lower sales volume in North America and Brazil. Infrastructure revenues decreased $14.0 million, primarily due to lower Road Zipper System project sales as the prior year included a $20.0 million project that did not repeat. The decrease was partially offset by higher sales of road safety products compared to the prior year.

Operating income for fiscal 2026 was $66.9 million, a decrease of $21.2 million, or 24 percent, compared to operating income of $88.1 million in the prior year. Operating margin was 10.5 percent of sales, compared to 13.0 percent of sales in the prior year. The decrease in operating income resulted primarily from lower revenues in both segments. Irrigation segment operating margin decreased primarily due to lower unit volume and the resulting lower fixed cost absorption as well as higher input costs. Infrastructure operating margin decreased primarily due to a $20.0 million Road Zipper project in the prior year that did not repeat.

Net earnings for fiscal 2026 were $55.7 million, a decrease of $18.4 million, or 25 percent, compared to net earnings of $74.1 million in the prior year. Diluted earnings per share for fiscal 2026 of $5.33 reflects a decrease of 21 percent compared to $6.78 in the prior year. The decrease in net earnings resulted from lower operating income and a higher effective tax rate, both of which were partially offset by higher other income compared to the prior year.

The backlog of unfilled orders as of August 31, 2026, was $102.5 million compared with $110.7 million on August 31, 2025. Included in these backlogs are amounts of $17.6 million and $9.8 million, respectively, for orders not expected to be fulfilled within the subsequent twelve months. The decrease in backlog is primarily attributed to deliveries relating to the large irrigation projects in the MENA region.

Outlook

Mr. Wood concluded, “During our fourth quarter, we saw encouraging signs for forward crop prices, improving farmer sentiment in the near-term in North America, however, it is still too early to forecast significant recovery. We expect demand for irrigation equipment in North America to remain tempered until the outlook for commodity prices and farm income improves. In Brazil, high interest rates and ongoing credit constraints remain as headwinds. We’re managing the business with discipline through these headwinds so that we’re well-positioned when financing conditions improve. Brazil remains central to our long-term international growth, and our planned acquisition of Setorial Irrigação further expands our irrigation portfolio and strengthens our position in the Brazilian market. While we expect difficult year-over-year comparisons in the international irrigation project markets in fiscal 2027, we remain optimistic about the long-term opportunities driven by the growing need to improve food security and water conservation.”

“In our infrastructure business, we anticipate sustained growth in road safety products, supported by the new road safety solutions we’ve recently introduced in the market. We anticipate Road Zipper System leasing to be comparable to this fiscal year, while we continue to actively manage Road Zipper System projects through the sales funnel.”

Fourth Quarter Conference Call

Lindsay’s fiscal 2026 fourth quarter investor conference call is scheduled for 11:00 a.m. Eastern Time today. Interested investors may participate in the call by dialing (833) 535-2202 in the U.S., or (412) 902-6745 internationally, and requesting the Lindsay Corporation call. Additionally, the conference call will be simulcast live on the internet and can be accessed via the investor relations section of the Company’s website, www.lindsay.com. Replays of the conference call will remain on our website through the next quarterly earnings release. The Company will have a slide presentation available to augment management’s formal presentation, which will also be accessible via the Company’s website.

About the Company

Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world’s rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic™ center pivot and lateral move agricultural irrigation systems, FieldNET™ and FieldWise™ remote irrigation management technology, FieldNET Advisor™ irrigation scheduling technology, and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world’s roads, bridges and tunnels, through the Road Zipper™ and Snoline™ brands. For more information about Lindsay Corporation, visit www.lindsay.com.

Concerning Forward-looking Statements

This release contains forward-looking statements that are subject to risks and uncertainties, and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and planned financing of the Company and those statements preceded by, followed by or including the words “anticipate,” “estimate,” “believe,” “intend,” “expect,” “outlook,” “could,” “may,” “should,” “will,” or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.

LINDSAY CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended August 31,

 

 

Years Ended August 31,

(in thousands, except per share amounts)

 

 2026

 

 

 2025

 

 

 2026

 

 

 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating revenues

 

$

 

161,566

 

 

$

 

153,559

 

 

$

 

635,863

 

 

$

 

676,368

Cost of operating revenues

 

 

 

118,066

 

 

 

 

108,854

 

 

 

 

452,080

 

 

 

 

465,588

Gross profit

 

 

 

43,500

 

 

 

 

44,705

 

 

 

 

183,783

 

 

 

 

210,780

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling expense

 

 

 

10,402

 

 

 

 

10,462

 

 

 

 

42,258

 

 

 

 

41,740

General and administrative expense

 

 

 

13,669

 

 

 

 

17,723

 

 

 

 

57,598

 

 

 

 

62,986

Engineering and research expense

 

 

 

3,636

 

 

 

 

5,195

 

 

 

 

17,002

 

 

 

 

17,930

Total operating expenses

 

 

 

27,707

 

 

 

 

33,380

 

 

 

 

116,858

 

 

 

 

122,656

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

 

 

15,793

 

 

 

 

11,325

 

 

 

 

66,925

 

 

 

 

88,124

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income, net

 

 

 

2,272

 

 

 

 

2,053

 

 

 

 

9,890

 

 

 

 

5,885

Other expense, net

 

 

 

(781

)

 

 

 

244

 

 

 

 

(1,500

)

 

 

 

574

Total other income

 

 

 

1,491

 

 

 

 

2,297

 

 

 

 

8,390

 

 

 

 

6,459

 

 

 

  

 

 

 

  

 

 

 

  

 

 

 

  

Earnings before income taxes

 

 

 

17,284

 

 

 

 

13,622

 

 

 

 

75,315

 

 

 

 

94,583

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

 

6,020

 

 

 

 

2,809

 

 

 

 

19,662

 

 

 

 

20,531

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

 

11,264

 

 

$

 

10,813

 

 

$

 

55,653

 

 

$

 

74,052

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

 

1.11

 

 

$

 

1.01

 

 

$

 

5.35

 

 

$

 

6.82

Diluted

 

$

 

1.10

 

 

$

 

0.99

 

 

$

 

5.33

 

 

$

 

6.78

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares used in computing earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

10,169

 

 

 

 

10,857

 

 

 

 

10,397

 

 

 

 

10,859

Diluted

 

 

 

10,219

 

 

 

 

10,928

 

 

 

 

10,436

 

 

 

 

10,918

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash dividends declared per share

 

$

 

0.38

 

 

$

 

0.37

 

 

$

 

1.49

 

 

$

 

1.45

 

LINDSAY CORPORATION AND SUBSIDIARIES

 

SUMMARY OPERATING RESULTS

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended August 31,

 

 

 

Years Ended August 31,

 

(in thousands)

 

 2026

 

 

 2025

 

 

2026

 

 

 2025

 

Operating revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Irrigation:

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$

 

55,400

 

 

$

 

50,046

 

 

$

 

262,104

 

 

$

 

273,839

 

International

 

 

 

78,343

 

 

 

 

78,984

 

 

 

 

279,346

 

 

 

 

294,161

 

Irrigation total

 

 

 

133,743

 

 

 

 

129,029

 

 

 

 

541,450

 

 

 

 

568,000

 

Infrastructure

 

 

 

27,823

 

 

 

 

24,530

 

 

 

 

94,413

 

 

 

 

108,368

 

Total operating revenues

  

$

 

161,566

 

 

$

 

153,559

 

 

$

 

635,863

 

 

$

 

676,368

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income:

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Irrigation

  

$

 

17,313

 

 

$

 

17,697

 

 

$

 

80,081

 

 

$

 

96,963

 

Infrastructure

 

 

 

4,973

 

 

 

 

3,533

 

 

 

 

16,033

 

 

 

 

26,338

 

Corporate

 

 

 

(6,493

)

 

 

 

(9,906

)

 

 

 

(29,189

)

 

 

 

(35,177

)

Total operating income

  

$

 

15,793

 

 

$

 

11,325

 

 

$

 

66,925

 

 

$

 

88,124

 

The Company manages its business activities in two reportable segments as follows:

Irrigation – This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, repair and replacement parts for irrigation systems and controls, and large diameter steel tubing, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, remote irrigation management and scheduling technology, irrigation consulting and design and industrial IoT solutions.

Infrastructure – This reporting segment includes the manufacture and marketing of movable barriers, specialty barriers, crash cushions and end terminals, road marking and road safety equipment, railroad signals and structures, and technology to monitor critical safety infrastructure on roadways.

LINDSAY CORPORATION AND SUBSIDIARIES

 

CONDENSED CONSOLIDATED BALANCE SHEETS

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

August 31,

2026

 

 

August 31,

2025

 

 

 

 

 

 

 

 

 

 

ASSETS

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

 

189,836

 

 

$

 

250,575

 

Receivables, net of allowance of $5,883 and $6,089, respectively

 

 

 

111,201

 

 

 

 

113,027

 

Inventories, net

 

 

 

135,229

 

 

 

 

136,859

 

Other current assets

 

 

 

35,331

 

 

 

 

32,303

 

Total current assets

 

 

 

471,597

 

 

 

 

532,764

 

 

 

 

 

 

 

 

 

 

Property, plant, and equipment, net

 

 

 

170,929

 

 

 

 

142,307

 

Intangible assets, net

 

 

 

22,300

 

 

 

 

23,331

 

Goodwill

 

 

 

84,446

 

 

 

 

84,459

 

Operating lease right-of-use assets

 

 

 

19,412

 

 

 

 

18,096

 

Deferred income tax assets

 

 

 

17,422

 

 

 

 

19,525

 

Equity method investment

 

 

 

8,370

 

 

 

 

8,763

 

Other noncurrent assets

 

 

 

20,626

 

 

 

 

11,591

 

Total assets

 

$

 

815,102

 

 

$

 

840,836

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

 

56,940

 

 

$

 

48,670

 

Current portion of long-term debt

 

 

—

 

 

 

 

233

 

Other current liabilities

 

 

 

92,877

 

 

 

 

94,689

 

Total current liabilities

 

 

 

149,817

 

 

 

 

143,592

 

 

 

 

 

 

 

 

 

 

Pension benefits liabilities

 

 

 

3,163

 

 

 

 

3,418

 

Long-term debt

 

 

 

114,829

 

 

 

 

114,810

 

Operating lease liabilities

 

 

 

18,128

 

 

 

 

17,354

 

Deferred income tax liabilities

 

 

 

967

 

 

 

 

1,024

 

Other noncurrent liabilities

 

 

 

22,537

 

 

 

 

27,788

 

Total liabilities

 

 

 

309,441

 

 

 

 

307,986

 

 

 

 

 

 

 

 

 

 

Shareholders’ equity:

 

 

 

 

 

 

 

 

Preferred stock

 

 

—

 

 

 

—

 

Common stock

 

 

 

19,200

 

 

 

 

19,167

 

Capital in excess of stated value

 

 

 

118,796

 

 

 

 

113,042

 

Retained earnings

 

 

 

785,658

 

 

 

 

745,397

 

Less treasury stock – at cost, 9,030 and 8,363 shares, respectively

 

 

 

(391,962

)

 

 

 

(311,224

)

Accumulated other comprehensive loss, net

 

 

 

(26,031

)

 

 

 

(33,532

)

Total shareholders’ equity

 

 

 

505,661

 

 

 

 

532,850

 

Total liabilities and shareholders’ equity

 

$

 

815,102

 

 

$

 

840,836

 

 

 

 

 

 

 

 

 

 

LINDSAY CORPORATION AND SUBSIDIARIES

 

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended August 31,

 

($ in thousands)

 

2026

 

 

2025

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

 

 

Net earnings

 

$

 

55,653

 

 

$

 

74,052

 

Adjustments to reconcile net earnings to net cash provided by operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

 

23,061

 

 

 

 

20,896

 

Provision for uncollectible accounts receivable

 

 

 

261

 

 

 

 

1,725

 

Deferred income taxes

 

 

 

10,904

 

 

 

 

(1,433

)

Share-based compensation expense

 

 

 

5,614

 

 

 

 

8,059

 

Foreign currency transaction loss

 

 

 

(770

)

 

 

 

(718

)

Other, net

 

 

 

1,168

 

 

 

 

(2,669

)

Changes in assets and liabilities:

 

 

 

 

 

 

 

 

Receivables

 

 

 

1,739

 

 

 

 

3,448

 

Inventories

 

 

 

4,234

 

 

 

 

19,090

 

Other current assets

 

 

 

(3,389

)

 

 

 

(784

)

Accounts payable

 

 

 

(316

)

 

 

 

11,115

 

Other current liabilities

 

 

 

(14,002

)

 

 

 

(4,422

)

Other noncurrent assets and liabilities

 

 

 

(9,237

)

 

 

 

4,551

 

Net cash provided by operating activities

 

 

 

74,920

 

 

 

 

132,910

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

Purchases of property, plant and equipment

 

 

 

(40,172

)

 

 

 

(42,496

)

Purchases of marketable securities available-for-sale

 

 

—

 

 

 

 

(14,676

)

Proceeds from maturities of marketable securities available-for-sale

 

 

—

 

 

 

 

15,000

 

Purchase of equity method investment

 

 

—

 

 

 

 

(5,813

)

Proceeds from settlement of net investment hedge

 

 

 

220

 

 

 

 

835

 

Payments for settlement of net investment hedge

 

 

 

(1,746

)

 

 

 

(98

)

Other investing activities, net

 

 

 

(1,119

)

 

 

 

(1,326

)

Net cash used in investing activities

 

 

 

(42,817

)

 

 

 

(48,574

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

Repurchase of common shares

 

 

 

(80,738

)

 

 

 

(11,532

)

Dividends paid

 

 

 

(15,392

)

 

 

 

(15,748

)

Proceeds from exercise of stock options

 

 

 

805

 

 

 

 

1,507

 

Common stock withheld for payroll tax obligations

 

 

 

(1,253

)

 

 

 

(1,450

)

Other financing activities, net

 

 

 

356

 

 

 

 

372

 

Net cash used in financing activities

 

 

 

(96,222

)

 

 

 

(26,851

)

 

 

 

 

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

 

 

 

3,380

 

 

 

 

2,211

 

Net change in cash and cash equivalents

 

 

 

(60,739

)

 

 

 

59,696

 

Cash and cash equivalents, beginning of period

 

 

 

250,575

 

 

 

 

190,879

 

Cash and cash equivalents, end of period

 

$

 

189,836

 

 

$

 

250,575

 

 

 

 

 

 

 

 

 

 

SUPPLEMENTAL CASH FLOW INFORMATION

 

 

 

 

 

 

 

 

Accrual of unpaid property, plant and equipment

 

 

 

9,483

 

 

 

 

1,022

 

 

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