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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net earnings $ 307,583 $ 275,749 $ 214,891
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 102,412 102,949 99,995
(Gain) loss on sale of businesses 0 (1,735) (875)
(Gain) loss on sale/disposal of long-lived assets (11,054) (1,120) 29
Deferred income taxes 40,787 8,562 (5,782)
Share-based compensation 13,669 14,094 11,572
Change in operating assets and liabilities, net of businesses acquired and divested:      
Accounts receivable, net (12,613) (57,492) (16,388)
Inventories, net (3,485) (41,197) 19,711
Progress Payments (4,834) (11,121) (774)
Accounts payable and accrued expenses (18,629) 48,930 4,323
Deferred revenue 36,134 23,082 36,898
Income taxes (15,625) (8,847) (5,479)
Net pension and postretirement liabilities (1,310) (43,759) 3,481
Other current and long-term assets and liabilities (11,631) 28,178 27,110
Net cash provided by operating activities 421,404 336,273 388,712
Cash flows from investing activities:      
Proceeds from sales and disposals of long-lived assets 15,093 9,117 6,769
Additions to property, plant, and equipment (69,752) (53,417) (52,705)
Payments to Acquire Businesses, Gross (185,209) (210,167) (232,630)
Payments for (Proceeds from) Other Investing Activities 172 1,049 (6,238)
Net cash used for investing activities (240,040) (255,516) (272,328)
Cash flows from financing activities:      
Borrowings under revolving credit facility 37,692 372,980 7,658
Payment of revolving credit facilities (37,934) (372,887) (8,176)
Principal payments on debt 0 (50,000) (150,000)
Repurchases of common stock (50,661) (198,592) (52,127)
Proceeds from share-based compensation 11,770 11,940 14,179
Dividends paid (28,200) (26,328) (24,740)
Proceeds from (Payments for) Other Financing Activities (812) (752) (692)
Net cash provided by financing activities (68,145) (263,639) (213,898)
Effect of exchange-rate changes on cash 1,748 (16,172) 18,786
Net increase (decrease) in cash and cash equivalents 114,967 (199,054) (78,728)
Cash and cash equivalents at beginning of period 276,066 475,120 553,848
Cash and cash equivalents at end of period 391,033 276,066 475,120
Supplemental disclosure of non-cash investing activities:      
Capital Expenditures Incurred but Not yet Paid $ 2,015 $ 2,193 $ 976