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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows – Operating activities:    
Net earnings, including noncontrolling interests $ 1,490 $ 59,496
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:    
Depreciation 22,166 23,361
Amortization of intangible and other assets 3,121 4,105
Stock-based compensation 14,311 7,609
Foreign currency, asset write downs and other non-cash adjustments 23,065 (15,454)
Change in assets and liabilities:    
Accounts receivable, net 19,137 8,174
Inventories, net (43,226) (49,478)
Contract assets, net (14,462) 1,631
Prepaid expenses and other assets, net (2,493) (5,128)
Accounts payable (7,873) (15,399)
Contract liabilities 15,705 5,567
Accrued liabilities and income taxes payable 12,204 11,462
Retirement obligations and other 9,738 (652)
Net deferred taxes (5,581) 3,225
Net cash flows provided (used) by operating activities 47,302 38,519
Cash flows – Investing activities:    
Capital expenditures (17,310) (10,638)
Proceeds from disposal of assets and other 10,737 39,211
Net cash flows provided (used) by investing activities (6,573) 28,573
Cash flows – Financing activities:    
Payments on long-term debt 0 (15,000)
Proceeds under other financing arrangements 3,250 1,660
Payments under other financing arrangements (3,356) (2,484)
Repurchases of common shares 32,112 0
Payments related to tax withholding for stock-based compensation (3,137) (2,861)
Payments of dividends (26,023) (24,909)
Other (2,547) (192)
Net cash flows provided (used) by financing activities (63,925) (43,786)
Effect of exchange rate changes on cash (25,485) (5,279)
Net change in cash and cash equivalents (48,681) 18,027
Cash and cash equivalents at beginning of period 670,980 619,683
Cash and cash equivalents at end of period $ 622,299 $ 637,710