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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities:    
Net earnings $ 760,566 $ 801,797
Adjustments to reconcile net earnings to cash provided by operating activities:    
Depreciation and amortization 237,002 230,808
Stock-based compensation expense 25,468 24,657
Reclassification of foreign currency translation losses to earnings 0 5,915
Other, net (1,160) (35,814)
Cash effect of changes in assets and liabilities:    
Accounts receivable, net (64,891) (227,831)
Inventories 41,841 (286,437)
Prepaid expenses and other assets 1,207 (14,001)
Accounts payable (67,441) 121,513
Accrued compensation and employee benefits (41,063) (62,208)
Accrued expenses and other liabilities (8,342) (19,700)
Accrued and deferred taxes, net (63,192) (71,618)
Net cash provided by operating activities 819,995 467,081
Investing Activities:    
Additions to property, plant and equipment (131,582) (166,039)
Acquisitions, net of cash and cash equivalents acquired (7,166) (229,296)
Proceeds from sale of property, plant and equipment 3,430 4,215
Other (935) (10,941)
Net cash used in investing activities (136,253) (402,061)
Financing Activities:    
Repurchase of common stock, including prepayment under accelerated share repurchase program 0 (585,000)
Change in commercial paper and other short-term borrowings, net (528,816) 682,928
Dividends paid to stockholders (212,882) (216,636)
Payments to settle employee tax obligations on exercise of share-based awards (12,334) (12,278)
Other (3,173) (2,593)
Net cash used in financing activities (757,205) (133,579)
Effect of exchange rate changes on cash and cash equivalents (6,307) (10,943)
Net decrease in cash and cash equivalents, including cash held for sale (79,770) (79,502)
Cash and cash equivalents at beginning of period 380,868 385,504
Cash and cash equivalents, including cash held for sale, at end of period 301,098 306,002
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]    
Cash and cash equivalents 283,798 306,002
Cash and cash equivalents held for sale 17,300 0
Cash and cash equivalents, including cash held for sale $ 301,098 $ 306,002