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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating Activities    
Net earnings $ 176,279 $ 105,705
Loss on assets held for sale 0 (46,946)
Adjustments to reconcile net earnings to cash from operating activities:    
Depreciation and amortization 68,752 67,738
Share-based compensation expense 3,252 8,182
Other, net (17,358) 2,363
Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange):    
Accounts receivable, net (25,313) (42,252)
Inventories (61,936) (73,041)
Prepaid expenses and other assets (8,654) (14,921)
Accounts payable (25,245) (22,638)
Accrued compensation and employee benefits (67,247) (55,559)
Accrued expenses and other liabilities 25,321 (16,107)
Accrued and deferred taxes, net 14,563 18,108
Net cash provided by operating activities 75,863 24,524
Investing Activities    
Additions to property, plant and equipment (40,172) (37,122)
Acquisitions, net of cash acquired 208,421 175,083
Proceeds from sale of property, plant, and equipment 1,232 170
Proceeds from sale of businesses 16,850 2,245
Other 0 (7,900)
Net cash (used in) provided by investing activities (230,511) (217,690)
Financing Activities    
Repurchase of common stock, including prepayment under an accelerated share repurchase program (52,916) 0
Change in commercial paper and notes payable 415,300 125,893
Dividends paid to stockholders (70,899) (69,809)
Payments to settle employee tax obligations on exercise of share-based awards (10,019) (19,608)
Other (512) (409)
Net cash used in by financing activities 280,954 36,067
Effect of Exchange Rate on Cash and Cash Equivalents (14,652) 3,892
Net (decrease) increase in cash and cash equivalents 111,654 (153,207)
Cash and cash equivalents at beginning of period 397,253 396,221
Cash and cash equivalents at end of period $ 508,907 $ 243,014