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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net earnings $ 509,796 $ 428,698
Loss (earnings) from discontinued operations 0 4,472
Loss on assets held for sale (46,946) 0
Adjustments to reconcile net earnings to cash from operating activities:    
Depreciation and amortization 202,294 206,018
Share-based compensation expense 24,493 15,846
Other, net (6,107) (13,946)
Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange):    
Accounts receivable, net (67,603) (119,687)
Inventories (74,412) (130,351)
Prepaid expenses and other assets (29,336) (34,604)
Accounts payable (3,875) 87,898
Accrued compensation and employee benefits (5,908) (17,101)
Accrued expenses and other liabilities (3,833) (8,169)
Accrued and deferred taxes, net (8,357) (390)
Net cash provided by operating activities 584,098 418,684
Investing Activities    
Additions to property, plant and equipment (137,276) (134,556)
Acquisitions, net of cash acquired 215,687 68,557
Proceeds from sale of property, plant, and equipment 2,838 4,681
Proceeds from sale of businesses 24,218 2,069
Other (10,150) (13,762)
Net cash (used in) provided by investing activities (336,057) (210,125)
Financing Activities    
Cash received from Apergy, net of cash distributed 0 689,643
Repurchase of common stock, including prepayment under an accelerated share repurchase program (23,280) (892,771)
Change in commercial paper and notes payable (37,650) 67,617
Dividends paid to stockholders (211,072) (213,126)
Payments to settle employee tax obligations on exercise of share-based awards (29,011) (44,443)
Repayments of long-term debt 0 (350,000)
Other (1,417) (6,233)
Net cash used in by financing activities (302,430) (749,313)
Cash Provided by (Used in) Operating Activities, Discontinued Operations 0 15,790
Cash Provided by (Used in) Investing Activities, Discontinued Operations 0 (23,705)
Net Cash Provided by (Used in) Discontinued Operations 0 (7,915)
Effect of Exchange Rate on Cash and Cash Equivalents (1,300) 3,982
Net (decrease) increase in cash and cash equivalents (55,689) (544,687)
Cash and cash equivalents at beginning of period 396,221 753,964
Cash and cash equivalents at end of period $ 340,532 $ 209,277