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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities:    
Net earnings $ 1,261,143 $ 760,566
Adjustments to reconcile net earnings to cash provided by operating activities:    
Earnings from discontinued operations, net (99,558) (74,881)
Depreciation and amortization 251,179 227,519
Stock-based compensation expense 32,297 24,836
Gain on dispositions (597,913) 0
Other, net (36,033) (1,407)
Cash effect of changes in assets and liabilities:    
Accounts receivable, net (5,960) (59,082)
Inventories (36,936) 42,553
Prepaid expenses and other assets (19,780) 2,068
Accounts payable (60,549) (82,364)
Accrued compensation and employee benefits (30,322) (40,718)
Accrued expenses and other liabilities 31,174 (14,884)
Accrued and deferred taxes, net (39,861) (63,224)
Net cash provided by operating activities 648,881 720,982
Investing Activities:    
Additions to property, plant and equipment (113,626) (126,131)
Acquisitions, net of cash and cash equivalents acquired (602,654) (7,166)
Proceeds from dispositions, net of cash transferred 767,689 0
Other 11,710 2,225
Net cash provided by (used in) investing activities 63,119 (131,072)
Financing Activities:    
Repurchase of common stock, including accelerated share repurchase program (500,000) 0
Change in commercial paper and other short-term borrowings, net (88,987) (528,816)
Dividends paid to stockholders (212,367) (212,882)
Payments to settle employee tax obligations on exercise of share-based awards (13,731) (12,334)
Other (3,360) (3,173)
Net cash used in financing activities (818,445) (757,205)
Cash Flows from Discontinued Operations:    
Net cash provided by operating activities of discontinued operations 108,284 99,281
Net cash used in investing activities of discontinued operations (14,359) (5,451)
Net cash provided by discontinued operations 93,925 93,830
Effect of exchange rate changes on cash and cash equivalents (6,575) (6,305)
Net decrease in cash and cash equivalents, including cash held for sale (19,095) (79,770)
Cash and cash equivalents at beginning of period, including cash held for sale 415,861 380,868
Cash and cash equivalents at end of period, including cash held for sale $ 396,766 $ 301,098