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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 25, 2022
Jun. 26, 2021
Cash flows from operating activities:    
Net earnings $ 140,113 $ 117,658
Adjustments to reconcile net earnings to net cash flows from operations:    
Depreciation and amortization 48,012 44,063
Stock-based compensation 19,583 8,948
Defined benefit pension plan benefit (5,242) (7,400)
Contribution to defined benefit pension plan (17,155) (970)
Loss (gain) on sale of property, plant and equipment 737 (1,330)
Equity in loss in nonconsolidated subsidiaries 913 719
Deferred income taxes 2,675 (3,718)
Changes in assets and liabilities:    
Receivables (53,809) (45,398)
Inventories (56,625) (142,218)
Prepaid expenses and other assets (current and non-current) 5,369 (19,680)
Contract assets (59,536) (17,165)
Accounts payable 39,875 55,445
Accrued expenses (16,034) (18,119)
Contract liabilities 4,798 24,963
Other noncurrent liabilities (6,447) 52,229
Income taxes payable/refundable 20,792 22,158
Net cash flows from operating activities 68,019 70,185
Acquisitions, net of cash acquired (39,297) (312,500)
Cash flows from investing activities:    
Purchase of property, plant and equipment (49,676) (48,824)
Proceeds from sale of assets 45 1,595
Other, net 1,117 (1,669)
Net cash flows from investing activities (87,811) (361,398)
Cash flows from financing activities:    
Proceeds from short-term borrowings 0 11,972
Payments on short-term borrowings (9,155) (17,021)
Proceeds from long-term borrowings 201,462 149,342
Principal payments on long-term borrowings (156,973) (15,421)
Dividends paid (22,337) (20,181)
Purchase of noncontrolling interest (4,292) 0
Purchase of treasury shares (9,776) (21,600)
Proceeds from exercises under stock plans 5,846 19,891
Purchase of common treasury shares—stock plan exercises (4,205) (16,922)
Net cash flows from financing activities 570 90,060
Effect of exchange rate changes on cash and cash equivalents (3,431) (288)
Net change in cash and cash equivalents (22,653) (201,441)
Cash and cash equivalents—beginning of year 177,232 400,726
Cash and cash equivalents—end of period $ 154,579 $ 199,285