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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 29, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net earnings $ 82,151 $ 123,949
Adjustments to reconcile net earnings to net cash flows from operations:    
Depreciation and amortization 62,018 63,500
Noncash (gain) loss on trading securities (62) 395
Impairment of property, plant and equipment 4,197 0
Impairment of goodwill and intangible assets 15,780 0
Loss from divestiture of grinding media business 6,084 0
Stock-based compensation 8,076 7,300
Defined benefit pension plan expense (benefit) (1,713) 481
Contribution to defined benefit pension plan (1,555) (26,064)
Gain on sale of property, plant and equipment (353) (732)
Deferred income taxes 814 79
Changes in assets and liabilities:    
Receivables (612) (39,584)
Inventories (33,004) (41,545)
Prepaid expenses and other assets (18,486) (12,331)
Contract asset - costs and profits in excess of billings (33,029) 695
Accounts payable (19,069) 28,895
Accrued expenses 7,288 20,157
Other noncurrent liabilities (1,249) (1,627)
Income taxes refundable (9,223) (1,732)
Net cash flows from operating activities 68,053 121,836
Cash flows from investing activities:    
Purchase of property, plant and equipment (48,919) (39,898)
Proceeds from sale of assets 64,786 1,575
Acquisitions, net of cash acquired (125,309) (5,362)
Settlement of net investment hedges (1,621) 5,123
Other, net (2,371) (3,462)
Net cash flows from investing activities (113,434) (42,024)
Cash flows from financing activities:    
Proceeds/(payments) under short-term agreements 3,217 (549)
Proceeds from long-term borrowings 236,936 0
Principal payments on long-term borrowings (252,952) (658)
Settlement of financial derivatives (2,467) 0
Debt issuance costs (2,322) 0
Dividends paid (25,415) (25,386)
Dividends to noncontrolling interest (5,737) (3,895)
Purchase of noncontrolling interest (5,510) 0
Purchase of treasury shares (86,919) 0
Proceeds from exercises under stock plans 6,376 12,446
Purchase of common treasury shares—stock plan exercises (1,914) (3,929)
Net cash flows from financing activities (136,707) (21,971)
Effect of exchange rate changes on cash and cash equivalents (15,095) 23,133
Net change in cash and cash equivalents (197,183) 80,974
Cash, cash equivalents, and restricted cash—beginning of year 492,805 412,516
Cash, cash equivalents, and restricted cash—end of period $ 295,622 $ 493,490