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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities:    
Net earnings $ 226,153 $ 232,769
Adjustments to reconcile net earnings to cash from operating activities:    
Depreciation and amortization 79,003 73,806
Stock-based compensation expense 11,113 11,521
Reclassification of foreign currency translation losses to earnings 5,915 0
Other, net (5,593) (9,031)
Cash effect of changes in assets and liabilities:    
Accounts receivable, net (97,220) (116,320)
Inventories (136,722) (75,421)
Prepaid expenses and other assets (23,524) (22,005)
Accounts payable 58,484 63,766
Accrued compensation and employee benefits (98,602) (34,894)
Accrued expenses and other liabilities (1,463) 22,945
Accrued and deferred taxes, net 6,139 30,048
Net cash provided by operating activities 23,683 177,184
Investing Activities:    
Additions to property, plant and equipment (50,381) (31,260)
Proceeds from sale of property, plant and equipment 3,177 5,845
Other 241 (4,157)
Net cash used in investing activities (46,963) (29,572)
Financing Activities:    
Repurchase of common stock 0 (21,637)
Borrowings in commercial paper and notes payable, net 7,778 0
Dividends paid to stockholders (72,203) (71,344)
Payments to settle employee tax obligations on exercise of share-based awards (10,046) (30,453)
Other (733) (805)
Net cash used in financing activities (75,204) (124,239)
Effect of exchange rate changes on cash and cash equivalents 2,964 64
Net (decrease) increase in cash and cash equivalents (95,520) 23,437
Cash and cash equivalents at beginning of period 385,504 513,075
Cash and cash equivalents at end of period $ 289,984 $ 536,512