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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Operating Activities    
Net earnings $ 428,698 $ 515,217
Loss (earnings) from discontinued operations 4,472 (58,199)
Adjustments to reconcile net earnings to cash from operating activities:    
Depreciation and amortization 206,018 212,161
Share-based compensation expense 15,846 19,878
Gain on sale of businesses 0 (90,093)
Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange):    
Accounts receivable, net (119,687) (64,803)
Inventories (130,351) (65,682)
Prepaid expenses and other assets (34,604) (2,806)
Accounts payable 87,898 66,734
Accrued compensation and employee benefits (17,101) 2,624
Accrued expenses and other liabilities (8,169) (44,177)
Accrued and deferred taxes, net (390) (38,459)
Other, net (13,946) 1,602
Net cash provided by operating activities 418,684 453,997
Investing Activities    
Additions to property, plant and equipment (134,556) (130,362)
Acquisitions, net of cash and cash equivalents acquired (68,557) (25,568)
Proceeds from sale of property, plant, and equipment 4,681 5,989
Proceeds from sale of businesses 2,069 121,175
Other (13,762) 21,151
Net cash (used in) provided by investing activities (210,125) (7,615)
Financing Activities    
Cash received from Apergy, net of cash distributed 689,643 0
Repurchase of common stock, including prepayment under an accelerated share repurchase program (892,771) 0
Change in commercial paper and notes payable 67,617 (279,927)
Dividends paid to stockholders (213,126) (210,549)
Payments to settle employee tax obligations on exercise of share-based awards (44,443) (13,812)
Repayments of long-term debt (350,000) 0
Other (6,233) (2,913)
Net cash used in by financing activities (749,313) (507,201)
Cash Provided by (Used in) Operating Activities, Discontinued Operations 15,790 57,882
Cash Provided by (Used in) Investing Activities, Discontinued Operations (23,705) (26,790)
Net Cash Provided by (Used in) Discontinued Operations (7,915) 31,092
Effect of Exchange Rate on Cash and Cash Equivalents 3,982 2,620
Net (decrease) increase in cash and cash equivalents (544,687) (27,107)
Cash and cash equivalents at beginning of period 753,964 349,146
Cash and cash equivalents at end of period $ 209,277 $ 322,039