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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows – Operating activities:    
Net earnings, including noncontrolling interests $ 32,418 $ 64,905
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:    
Depreciation 40,034 44,491
Amortization of intangible and other assets 6,748 7,433
Loss on extinguishment of debt 0 7,610
Stock-based compensation 16,896 16,472
Foreign currency, asset write downs and other non-cash adjustments (3,982) 12,460
Change in assets and liabilities:    
Accounts receivable, net (21,638) 14,285
Inventories, net (96,737) (30,784)
Contract assets, net (7,705) 12,232
Prepaid expenses and other assets, net (19,769) (16,187)
Accounts payable 33,550 (41,146)
Contract liabilities 9,642 17,026
Accrued liabilities and income taxes payable (65,773) (37,123)
Retirement obligations and other 10,028 (2,761)
Net deferred taxes (5,079) (7,607)
Net cash flows provided (used) by operating activities (71,367) 61,306
Cash flows – Investing activities:    
Capital expenditures (31,012) (22,541)
Proceeds from disposal of assets and other 2,015 (1,299)
Net cash flows provided (used) by investing activities (28,997) (23,840)
Cash flows – Financing activities:    
Payments on senior notes 0 (407,473)
Payments on term loan (15,921) 0
Proceeds under other financing arrangements 1,029 1,386
Payments under other financing arrangements (720) (3,256)
Repurchases of common shares 0 (17,531)
Payments related to tax withholding for stock-based compensation (4,497) (5,777)
Payments of dividends (52,267) (52,168)
Other (5,334) (6,275)
Net cash flows provided (used) by financing activities (77,710) (491,094)
Effect of exchange rate changes on cash (22,033) (11,249)
Net change in cash and cash equivalents (200,107) (464,877)
Cash and cash equivalents at beginning of period 658,452 1,095,274
Cash and cash equivalents at end of period $ 458,345 $ 630,397