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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Cash flows from operating activities:    
Net earnings $ 189,579 $ 161,143
Adjustments to reconcile net earnings to net cash flows from operations:    
Depreciation and amortization 46,526 48,792
Contribution to defined benefit pension plan (18,009) (15,259)
Gain on divestiture   (2,994)
Stock-based compensation 14,108 19,856
Net periodic pension cost 317 122
Loss on sale of property, plant, and equipment 315 1,297
Equity in loss of nonconsolidated subsidiaries 39 1,020
Deferred income taxes 450 1,631
Changes in assets and liabilities:    
Receivables (62,930) (38,147)
Inventories 14,800 6,402
Contract assets (16,141) 20,052
Prepaid expenses and other assets (current and non-current) (9,784) (26,001)
Accounts payable 1,224 (20,750)
Contract liabilities (47) (53,728)
Accrued expenses (28,388) (11,202)
Income taxes payable 22,961 24,395
Other non-current liabilities (877) (7,083)
Net cash flows from operating activities 154,143 109,546
Cash flows from investing activities:    
Purchase of property, plant, and equipment (33,328) (45,393)
Proceeds from divestiture, net of cash divested   6,369
Proceeds from sale of assets 226 1,261
Proceeds from property damage insurance claims   4,844
Other, net (3,402) (1,127)
Net cash flows from investing activities (36,504) (34,046)
Cash flows from financing activities:    
Proceeds from short-term borrowings 6,093 14,905
Repayments on short-term borrowings (7,368) (19,598)
Proceeds from long-term borrowings 15,009 165,012
Principal payments on long-term borrowings (105,349) (84,105)
Proceeds from settlement of financial derivatives 2,711 0
Dividends paid (24,239) (24,376)
Dividends to redeemable noncontrolling interests (664) (662)
Purchase of redeemable noncontrolling interests (17,745) 0
Repurchases of common stock (14,941) (135,115)
Proceeds from exercises under stock plans 4,333 5,201
Tax withholdings on exercises under stock plans (8,715) (15,416)
Net cash flows from financing activities (150,875) (94,154)
Effect of exchange rate changes on cash and cash equivalents (6,663) 155
Net change in cash and cash equivalents (39,899) (18,499)
Cash and cash equivalents-beginning of period 203,041 185,406
Cash and cash equivalents-end of period $ 163,142 $ 166,907