XML 16 R6.htm IDEA: XBRL DOCUMENT v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 27, 2021
Mar. 28, 2020
Cash flows from operating activities:    
Net earnings $ 55,001 $ 42,721
Adjustments to reconcile net earnings to net cash flows from operations:    
Depreciation and amortization 21,031 20,343
Noncash loss (gain) on trading securities 0 32
Stock-based compensation 4,671 3,325
Defined benefit pension plan benefit (3,676) (1,763)
Contribution to defined benefit pension plan (964) (17,039)
Loss on sale of property, plant and equipment 60 53
Equity in loss in nonconsolidated subsidiaries 360 219
Deferred income taxes 6,955 8,177
Changes in assets and liabilities:    
Receivables 16,044 (27,116)
Inventories (67,386) (8,674)
Prepaid expenses and other assets (current and non-current) (22,514) (10,149)
Contract assets 5,118 (3,933)
Accounts payable 24,605 13,880
Accrued expenses (35,559) 5,716
Contract liabilities 20,051 33,089
Other noncurrent liabilities 4,215 (2,971)
Income taxes payable/refundable 5,141 6,442
Net cash flows from operating activities 33,153 62,352
Cash flows from investing activities:    
Purchase of property, plant and equipment (27,565) (23,580)
Proceeds from sale of assets 204 684
Acquisitions, net of cash acquired 0 (8,804)
Other, net (1,947) (1,436)
Net cash flows from investing activities (29,308) (33,136)
Cash flows from financing activities:    
Proceeds from short-term agreements 14,734 3,751
Payments on short-term agreements (10,759) (5,193)
Proceeds from long-term borrowings 4,181 10,000
Principal payments on long-term borrowings (712) (188)
Dividends paid (9,556) (8,079)
Dividends to noncontrolling interest 0 (5,342)
Purchase of noncontrolling interest 0 (53,534)
Purchase of treasury shares (11,131) (20,481)
Proceeds from exercises under stock plans 19,318 60
Purchase of common treasury shares—stock plan exercises (16,725) (3)
Net cash flows from financing activities (10,650) (79,009)
Effect of exchange rate changes on cash and cash equivalents (2,463) (9,104)
Net change in cash and cash equivalents (9,268) (58,897)
Cash and cash equivalents—beginning of year 400,726 353,542
Cash and cash equivalents—end of period $ 391,458 $ 294,645