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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows – Operating activities:    
Net earnings, including noncontrolling interests $ 73,053 $ 116,713
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:    
Depreciation 59,207 66,316
Amortization of intangible and other assets 10,051 10,643
Loss on extinguishment of debt 0 8,173
Stock-based compensation 23,757 23,610
Foreign currency, asset write downs and other non-cash adjustments (24,085) 9,897
Change in assets and liabilities:    
Accounts receivable, net (78,376) 24,361
Inventories, net (151,938) (47,533)
Contract assets, net (21,912) 35,358
Prepaid expenses and other, net (14,881) 2,429
Accounts payable 29,307 (58,600)
Contract liabilities 27,237 9,379
Accrued liabilities and income taxes payable (32,735) 9,136
Retirement obligations and other liabilities 24,123 (23,842)
Net deferred taxes (32,293) (34,933)
Net cash flows provided (used) by operating activities (109,485) 151,107
Cash flows – Investing activities:    
Capital expenditures (45,831) (34,034)
Other 184 (4,679)
Net cash flows provided (used) by investing activities (45,647) (38,713)
Cash flows – Financing activities:    
Payments on senior notes 0 (407,473)
Proceeds from issuance of senior notes 0 498,280
Proceeds from long-term debt 0 300,000
Payments of deferred loan cost 0 (5,399)
Payments on term loan (24,239) 0
Proceeds under other financing arrangements 1,135 1,408
Payments under other financing arrangements (356) (6,215)
Repurchases of common shares 0 (17,531)
Payments related to tax withholding for stock-based compensation (4,578) (5,899)
Payments of dividends (78,406) (78,551)
Other (5,334) (6,276)
Net cash flows provided (used) by financing activities (111,778) 272,344
Effect of exchange rate changes on cash (39,672) (22,743)
Net change in cash and cash equivalents (306,582) 361,995
Cash and cash equivalents at beginning of period 658,452 1,095,274
Cash and cash equivalents at end of period $ 351,870 $ 1,457,269