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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net earnings $ 501,345 $ 509,796
Loss on assets held for sale 0 46,946
Adjustments to reconcile net earnings to cash from operating activities:    
Depreciation and amortization 205,844 202,294
Share-based compensation expense 15,591 24,493
Gain on sale of businesses (5,213) 0
Other, net (7,731) (6,107)
Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange):    
Accounts receivable, net 31,631 (67,603)
Inventories (19,360) (74,412)
Prepaid expenses and other assets (24,198) (29,336)
Accounts payable (92,071) (3,875)
Accrued compensation and employee benefits (13,136) (5,908)
Accrued expenses and other liabilities 118,779 (3,833)
Accrued and deferred taxes, net (24,562) (8,357)
Net cash provided by operating activities 686,919 584,098
Investing Activities    
Additions to property, plant and equipment (123,564) (137,276)
Acquisitions, net of cash acquired (258,674) (215,687)
Proceeds from sale of property, plant, and equipment 5,090 2,838
Proceeds from sale of businesses 15,400 24,218
Other (1,250) (10,150)
Net cash (used in) provided by investing activities (362,998) (336,057)
Financing Activities    
Repurchase of common stock, including prepayment under an accelerated share repurchase program (52,916) (23,280)
Change in commercial paper and notes payable 5,811 (37,650)
Dividends paid to stockholders (213,028) (211,072)
Payments to settle employee tax obligations on exercise of share-based awards (21,450) (29,011)
Other (1,753) (1,417)
Net cash used in by financing activities (283,336) (302,430)
Effect of Exchange Rate on Cash and Cash Equivalents (10,337) (1,300)
Net (decrease) increase in cash and cash equivalents 30,248 (55,689)
Cash and cash equivalents at beginning of period 397,253 396,221
Cash and cash equivalents at end of period $ 427,501 $ 340,532