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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 26, 2022
Mar. 27, 2021
Cash flows from operating activities:    
Net earnings $ 62,906 $ 55,001
Adjustments to reconcile net earnings to net cash flows from operations:    
Depreciation and amortization 23,884 21,031
Stock-based compensation 9,463 4,671
Defined benefit pension plan benefit (2,705) (3,676)
Contribution to defined benefit pension plan 0 (964)
Gain on sale of property, plant and equipment 4 60
Equity in loss in nonconsolidated subsidiaries 358 360
Deferred income taxes 708 6,955
Changes in assets and liabilities:    
Receivables (36,643) 16,044
Inventories (68,236) (67,386)
Prepaid expenses and other assets (current and non-current) (4,452) (22,514)
Contract assets (19,486) 5,118
Accounts payable 49,006 24,605
Accrued expenses (34,186) (35,559)
Contract liabilities 4,308 20,051
Other noncurrent liabilities 14 4,215
Income taxes payable/refundable 17,760 5,141
Net cash flows from operating activities 2,703 33,153
Cash flows from investing activities:    
Purchase of property, plant and equipment (27,095) (27,565)
Proceeds from sale of assets 2 204
Other, net (2,007) (1,947)
Net cash flows from investing activities (29,100) (29,308)
Cash flows from financing activities:    
Proceeds from short-term borrowings 0 14,734
Payments on short-term borrowings (5,562) (10,759)
Proceeds from long-term borrowings 97,000 4,181
Principal payments on long-term borrowings (82,529) (712)
Dividends paid (10,616) (9,556)
Purchase of treasury shares 0 (11,131)
Proceeds from exercises under stock plans 713 19,318
Purchase of common treasury shares—stock plan exercises (2,527) (16,725)
Net cash flows from financing activities (3,521) (10,650)
Effect of exchange rate changes on cash and cash equivalents 2,386 (2,463)
Net change in cash and cash equivalents (27,532) (9,268)
Cash and cash equivalents—beginning of year 177,232 400,726
Cash and cash equivalents—end of period $ 149,700 $ 391,458