XML 25 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Statement of Cash Flows [Abstract]      
Net earnings $ 275,749 $ 214,891 $ 187,329
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 102,949 99,995 96,008
(Gain) loss on sale of businesses (1,735) (875) (845)
(Gain) loss on fixed asset disposals (1,120) 29 (2,069)
Deferred income taxes 8,562 (5,782) 1,224
Share-based compensation 14,094 11,572 9,478
Change in operating assets and liabilities, net of businesses acquired and divested:      
Accounts receivable, net (57,492) (16,388) 91,692
Inventories, net (41,197) 19,711 4,391
Progress payments (11,121) (774) 2,583
Accounts payable and accrued expenses 48,930 4,323 4,125
Deferred revenue 23,082 36,898 (11,084)
Income taxes (8,847) (5,479) 11,797
Net pension and postretirement liabilities (43,759) 3,481 3,405
Other Operating Activities, Cash Flow Statement 0 0 20,405
Increase (Decrease) in Other Noncurrent Liabilities 23,357 25,686 11,474
Other current and long-term assets and liabilities 4,821 1,424 (6,716)
Net cash provided by operating activities 336,273 388,712 423,197
Cash flows from investing activities:      
Proceeds from sales and disposals of long-lived assets 9,117 6,769 3,674
Proceeds from divestiture 958 6,973 1,027
Payments to Acquire Intangible Assets (1,547) 0 0
Additions to property, plant, and equipment (53,417) (52,705) (46,776)
Acquisition of businesses, net of cash acquired (210,167) (232,630) (295)
Additional consideration of prior period acquisitions (460) (735) (564)
Net cash used for investing activities (255,516) (272,328) (42,934)
Cash flows from financing activities:      
Borrowings under revolving credit facility 372,980 7,658 7,839
Payment of revolving credit facilities (372,887) (8,176) (8,430)
Principal payments on debt (50,000) (150,000) 0
Repurchases of common stock (198,592) (52,127) (105,249)
Proceeds from share-based compensation 11,940 14,179 22,300
Dividends paid (26,328) (24,740) (23,067)
Proceeds from (Payments for) Other Financing Activities (752) (692) (635)
Excess tax benefits from share-based compensation 0 0 11,101
Net cash provided by financing activities (263,639) (213,898) (96,141)
Effect of exchange-rate changes on cash (16,172) 18,786 (18,971)
Net increase (decrease) in cash and cash equivalents (199,054) (78,728) 265,151
Cash and cash equivalents at beginning of period 475,120 553,848 288,697
Cash and cash equivalents at end of period 276,066 475,120 553,848
Supplemental disclosure of non-cash investing activities:      
Capital Expenditures Incurred but Not yet Paid $ 2,193 $ 976 $ 2,512