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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net earnings $ 325,513 $ 430,483 $ 298,937
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 184,373 163,991 167,037
Gain on disposal of property and equipment (554) (455) (303)
Inventory write-offs for obsolescence 37,426 26,898 20,657
Pensions and other postretirement benefits, net of contributions (9,559) (615) 2,106
Stock compensation expense 16,532 6,545 6,605
Loss on early extinguishment of debt 18,874 0 0
Deferred income taxes 36,783 38,677 50,613
Other operating activities 9,442 835 9,621
Change in U.S. transition tax liability (27,670) (14,757) (14,757)
Change in repatriation tax liability (63,600) (25,201) 0
Net change in operating assets and liabilities, net of effects of businesses acquired (161,857) (142,113) (83,412)
Net cash provided by operating activities 365,703 484,288 457,104
Investing activities      
Capital expenditures (329,410) (325,308) (218,372)
Proceeds from sale of property and equipment 1,156 1,198 1,317
Purchase of and deposits for businesses, net of cash acquired (13,753) (50,000) (20,847)
Purchase of short-term investments (117,523) (285,956) (140,603)
Maturity of short-term investments 387,898 132,901 147,893
Other investing activities (1,219) (1,766) 129
Net cash used in investing activities (72,851) (528,931) (230,483)
Financing activities      
Proceeds from long-term borrowings 750,000 0 0
Repurchase of convertible debt instruments (386,745) 0 (300)
Net proceeds (payments) on revolving credit facility (42,000) 42,000 0
Debt issuance costs (26,823) 0 0
Cash paid for capped call (94,200) 0 0
Repurchase of common stock held in treasury (78,684) (82,972) 0
Distributions to noncontrolling interests (867) (741) (800)
Cash withholding taxes paid when shares withheld for vested equity awards (3,994) (2,123) (1,963)
Net cash provided by (used in) financing activities 61,061 (101,023) (58,814)
Effect of exchange rate changes on cash and cash equivalents 7,981 (17,617) (13,573)
Net increase (decrease) in cash and cash equivalents 361,894 (163,283) 154,234
Cash and cash equivalents at beginning of year 610,825 774,108 619,874
Cash and cash equivalents at end of year 972,719 610,825 774,108
Common Stock [Member]      
Financing activities      
Dividends paid (50,787) (52,348) (51,094)
Class B Convertible Common Stock [Member]      
Financing activities      
Dividends paid $ (4,839) $ (4,839) $ (4,657)