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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended 79 Months Ended
Dec. 26, 2020
Dec. 28, 2019
Dec. 29, 2018
Dec. 26, 2020
Cash flows from operating activities:        
Net earnings $ 142,149 $ 152,105 $ 107,725  
Adjustments to reconcile net earnings to net cash flows from operations:        
Depreciation and amortization 82,892 82,264 82,827  
Noncash loss on trading securities 39 (172) (62)  
Contribution to defined benefit pension plan (35,399) (18,461) (1,537)  
Impairment of property, plant and equipment 3,751 0 5,000  
Impairment of goodwill & intangible assets 16,638 0 15,780  
Loss on divestiture of grinding media business 0 0 6,084  
Stock-based compensation 14,874 11,587 10,392  
Defined benefit pension plan expense (benefit) (7,311) (513) (2,251)  
(Gain) loss on sale of property, plant and equipment 60 (2,513) (225)  
Equity in earnings in nonconsolidated subsidiaries 1,004 0 0  
Deferred income taxes (1,397) 1,486 814  
Changes in assets and liabilities (net of acquisitions):        
Receivables (24,403) 5,408 12,571  
Inventories (21,888) 22,128 (23,666)  
Prepaid expenses and other assets (10,633) 4,413 (11,048)  
Contract asset - costs and profits in excess of billings 19,835 (29,274) (32,932)  
Accounts payable 33,044 (21,410) (1,486)  
Accrued expenses 52,548 (4,255) 2,834  
Contract liabilities 12,072 113,039 (2,785)  
Other noncurrent liabilities 46,712 (1,274) (10,888)  
Income taxes payable (refundable) (8,293) (6,944) (4,139)  
Net cash flows from operating activities 316,294 307,614 153,008  
Cash flows from investing activities:        
Purchase of property, plant and equipment (106,700) (97,425) (71,985)  
Proceeds from sale of assets 10,860 5,556 63,103  
Acquisitions, net of cash acquired (15,862) (81,841) (143,020)  
Proceeds from settlement of net investment hedge 11,983 11,184 (1,621)  
Investments in nonconsolidated subsidiaries (1,283) (6,169) 0  
Other, net (3,027) 545 (1,922)  
Net cash flows used in investing activities (104,029) (168,150) (155,445)  
Cash flows from financing activities:        
Proceeds from short-term agreements 20,990 13,195 10,543  
Payments on short-term agreements (7,946) (1,868) 0  
Proceeds from long-term borrowings 88,872 31,000 251,655  
Principal payments on long-term borrowings (121,665) (10,768) (262,191)  
Settlement of financial derivatives 0 0 (2,467)  
Debt issuance costs 0 0 (2,322)  
Dividends paid (36,930) (32,642) (33,726)  
Dividends to noncontrolling interest (5,642) (7,737) (7,055)  
Purchase of noncontrolling interest (59,416) (27,845) (5,510)  
Proceeds from exercises under stock plans 18,961 13,619 7,357  
Purchase of treasury shares (56,491) (62,915) (114,805) $ (852,040)
Purchase of common treasury shares—stock plan exercises (14,489) (12,989) (3,589)  
Net cash flows used in financing activities (173,756) (98,950) (162,110)  
Effect of exchange rate changes on cash and cash equivalents 8,675 (182) (15,048)  
Net change in cash and cash equivalents 47,184 40,332 (179,595)  
Cash, cash equivalents, and restricted cash—beginning of year 353,542 313,210 492,805  
Cash, cash equivalents, and restricted cash—end of year $ 400,726 $ 353,542 $ 313,210 $ 400,726