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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows – Operating activities:    
Net earnings, including noncontrolling interests $ 79,457 $ 77,915
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:    
Depreciation 18,831 19,326
Amortization of intangible and other assets 5,571 2,254
Stock-based compensation 8,656 8,657
Foreign currency, asset write downs and other non-cash adjustments (7,350) 1,189
Change in assets and liabilities:    
Accounts receivable, net (50,679) (39,687)
Inventories 8,804 (11,452)
Contract assets, net (9,447) (8,051)
Prepaid expenses and other assets, net 6,669 (16,001)
Accounts payable (16,861) 5,053
Contract liabilities (3,648) (6,372)
Accrued liabilities (89,467) 30,917
Retirement obligations and other liabilities (5,448) (2,426)
Net deferred taxes 4,978 935
Net cash flows provided (used) by operating activities (49,934) 62,257
Cash flows – Investing activities:    
Capital expenditures (11,738) (13,610)
Proceeds from disposal of assets 462 24
Net cash flows (used) by investing activities (11,276) (13,586)
Cash flows – Financing activities:    
Payments on term loan (9,375) (15,000)
Proceeds under other financing arrangements 150 72
Payments under other financing arrangements (101) (25)
Repurchases of common shares (21,088) (2,549)
Payments related to tax withholding for stock-based compensation (11,063) (8,857)
Payments of dividends (27,617) (27,654)
Contingent consideration payment related to acquired business (15,000) 0
Other (138) (201)
Net cash flows (used) by financing activities (84,232) (54,214)
Effect of exchange rate changes on cash and cash equivalents 10,805 (8,154)
Net change in cash and cash equivalents (134,637) (13,697)
Cash and cash equivalents at beginning of period 675,441 545,678
Cash and cash equivalents at end of period $ 540,804 $ 531,981