XML 22 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
Cash flows – Operating activities:    
Net earnings, including noncontrolling interests $ 77,915 $ 29,996
Adjustments to reconcile net earnings (loss) to net cash provided (used) by operating activities:    
Depreciation 19,326 18,928
Amortization of intangible and other assets 2,254 2,663
Stock-based compensation 8,657 9,953
Foreign currency, asset write downs and other non-cash adjustments 1,189 (2,728)
Change in assets and liabilities:    
Accounts receivable, net (39,687) (26,249)
Inventories (11,452) (70,721)
Contract assets, net (8,051) 4,325
Prepaid expenses and other, net (16,001) (16,019)
Accounts payable 5,053 7,008
Contract liabilities (6,372) 32,676
Accrued liabilities 30,917 35,374
Retirement obligations and other liabilities (2,426) 9,477
Net deferred taxes 935 (8,095)
Net cash flows provided (used) by operating activities 62,257 26,588
Cash flows – Investing activities:    
Capital expenditures (13,610) (15,318)
Other 24 (1,138)
Net cash flows provided (used) by investing activities (13,586) (16,456)
Cash flows – Financing activities:    
Payments on term loan (15,000) (10,000)
Proceeds under other financing arrangements 72 78
Payments under other financing arrangements (25) (1,515)
Repurchases of common shares (2,549) 0
Payments related to tax withholding for stock-based compensation (8,857) (5,850)
Payments of dividends (27,654) (26,229)
Other (201) (303)
Net cash flows provided (used) by financing activities (54,214) (43,819)
Effect of exchange rate changes on cash and cash equivalents (8,154) 3,442
Net change in cash and cash equivalents (13,697) (30,245)
Cash and cash equivalents at beginning of period 545,678 434,971
Cash and cash equivalents at end of period $ 531,981 $ 404,726