XML 308 R8.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Activities:    
Net earnings $ 632,221 $ 228,574
Adjustments to reconcile net earnings to cash provided by operating activities:    
Depreciation and amortization 84,709 77,896
Stock-based compensation expense 15,159 12,282
Gain on disposition (529,943) 0
Other, net 33,758 6,188
Cash effect of changes in assets and liabilities:    
Accounts receivable, net (92,989) 64,929
Inventories (33,174) (29,213)
Prepaid expenses and other assets (27,229) (30,944)
Accounts payable 26,440 (30,271)
Accrued compensation and employee benefits (96,409) (98,791)
Accrued expenses and other liabilities 20,295 16,553
Accrued and deferred taxes, net 133,755 24,081
Net cash provided by operating activities 166,593 241,284
Investing Activities:    
Additions to property, plant and equipment (44,475) (48,375)
Acquisitions, net of cash and cash equivalents acquired (144,872) 0
Proceeds from disposition, net of cash transferred 611,727 0
Other 7,471 4,819
Net cash provided by (used in) investing activities 429,851 (43,556)
Financing Activities:    
Repurchase of common stock, including prepayment under accelerated share repurchase program (500,000) 0
Change in commercial paper and other short-term borrowings, net 500,690 (221,205)
Dividends paid to stockholders (71,437) (70,773)
Payments to settle employee tax obligations on exercise of share-based awards (8,909) (12,987)
Other (1,126) (1,600)
Net cash used in financing activities (80,782) (306,565)
Effect of exchange rate changes on cash and cash equivalents (1,569) 395
Net increase (decrease) in cash and cash equivalents 514,093 (108,442)
Cash and cash equivalents at beginning of period, including cash held for sale [1] 415,861 380,868
Cash and cash equivalents at end of period $ 929,954 $ 272,426
[1] Cash held for sale as of December 31, 2023 and 2022 totaled $17,300 and $0, respectively.