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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows – Operating activities:    
Net earnings, including noncontrolling interests $ 60,685 $ 110,216
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:    
Depreciation 72,668 75,177
Amortization of intangible and other assets 12,548 12,767
Loss (gain) on disposition of businesses 7,727 (141,158)
Stock-based compensation 14,130 20,291
Foreign currency, asset impairments and other non-cash adjustments 31,678 24,696
Change in assets and liabilities:    
Accounts receivable, net (9,481) 63,835
Inventories, net (46,699) (20,355)
Contract assets, net (54,822) 0
Prepaid expenses and other assets, net (16,340) 22,456
Accounts payable (29,963) (68,012)
Contract liabilities 3,410 0
Accrued liabilities and income taxes payable (13,690) (6,702)
Retirement obligations and other (1,480) (18,720)
Net deferred taxes (4,033) (2,131)
Net cash flows provided by operating activities 26,338 72,360
Cash flows – Investing activities:    
Capital expenditures (49,976) (40,620)
Proceeds from other 4,062 2,977
(Payments) proceeds from disposition of businesses (3,663) 208,775
Net cash flows (used) provided by investing activities (49,577) 171,132
Cash flows – Financing activities:    
Payments on long-term debt (45,000) (45,000)
Proceeds under other financing arrangements 2,720 6,234
Payments under other financing arrangements (9,093) (12,560)
Excess tax benefits from stock-based payment arrangements (2,972) (6,287)
Payments of dividends (74,548) (74,412)
Other (4,333) (4,189)
Net cash flows used by financing activities (133,226) (136,214)
Effect of exchange rate changes on cash (17,038) 27,703
Net change in cash and cash equivalents (173,503) 134,981
Cash and cash equivalents at beginning of period 703,445 367,162
Cash and cash equivalents at end of period $ 529,942 $ 502,143