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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net earnings $ 147,399 $ 218,175
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation and amortization 84,769 76,998
Gain on fixed asset disposals (370) (6,295)
Deferred income taxes 4,258 652
Share-based compensation 11,777 11,262
Foreign exchange loss on substantial liquidation of subsidiary 9,498 0
Non-cash restructuring charges 10,254 0
Change in operating assets and liabilities, net of businesses acquired and divested:    
Accounts receivable, net 1,987 (44,788)
Inventories, net (33,322) (8,587)
Progress Payments (3,036) (4,955)
Accounts payable and accrued expenses (90,944) (86,900)
Deferred revenue (8,841) 18,750
Income taxes payable 9,409 2,676
Net pension and postretirement liabilities (150,674) (928)
Other current and long-term assets and liabilities 11,620 (17,045)
Net cash provided by operating activities 3,784 159,015
Cash flows from investing activities:    
Proceeds from sales and disposals of long lived assets 2,476 10,099
Payments to Acquire Intangible Assets 0 (157)
Additions to property, plant, and equipment (36,341) (49,919)
Acquisition of businesses, net of cash acquired 82,053 50,075
Net cash used for investing activities (115,918) (90,052)
Cash flows from financing activities:    
Borrowings under revolving credit facility 389,398 35,387
Payments of revolving credit facility (389,398) (35,550)
Borrowings of debt 300,000 0
Repurchases of common stock (137,155) (37,864)
Proceeds from share-based compensation 9,908 10,943
Dividends paid (14,160) (13,683)
Other (648) (600)
Net cash provided by (used for) financing activities 157,945 (41,367)
Effect of exchange-rate changes on cash (10,023) (5,950)
Net increase in cash and cash equivalents 35,788 21,646
Cash and cash equivalents at beginning of period 391,033 276,066
Cash and cash equivalents at end of period 426,821 297,712
Supplemental disclosure of non-cash activities:    
Capital expenditures incurred but not yet paid $ 1,668 $ 88