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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net earnings $ 602,739 $ 561,109 $ 512,611
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 42,044 38,991 37,167
Amortization 56,665 49,690 47,524
Deferred tax (benefit) provision (12,784) 11,203 2,302
Share-based compensation 18,687 18,285 17,579
Swiss tax reform (Note 14) 0 (15,833) 0
Provisional one-time charge on US tax reform 0 0 3,597
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability 0 0 (18,674)
Other (2,399) 133 (2,559)
Increase (decrease) in cash resulting from changes in:      
Trade accounts receivable, net (4,495) (31,408) (19,540)
Inventories (3,836) (4,603) (21,195)
Other current assets (4,763) (335) 622
Trade accounts payable (17,803) (12,221) 33,671
Taxes payable 14,049 (6,176) (1,528)
Accruals and other 36,595 (5,385) (26,572)
Net Cash Provided by (Used in) Operating Activities 724,699 603,450 565,005
Cash flows from investing activities:      
Proceeds from sale of property, plant and equipment 3,106 1,422 8,190
Purchase of property, plant and equipment (92,494) (97,341) (142,726)
Acquisitions (6,242) (2,004) (5,527)
Net hedging settlements on intercompany loans 4,730 1,160 (1,119)
Net cash used in investing activities (100,360) (99,083) (138,944)
Cash flows from financing activities:      
Proceeds from borrowings 1,489,040 1,435,081 940,615
Repayments of borrowings (1,483,869) (1,176,784) (876,324)
Proceeds from exercise of stock options 26,719 47,581 24,600
Repurchases of common stock (774,998) (774,999) (474,999)
Acquisition contingent consideration paid 0 (10,000) 0
Other financing activities (800) 1,753 (1,914)
Net cash provided by (used in) financing activities (743,908) (477,368) (388,022)
Effect of exchange rate changes on cash and cash equivalents 6,038 2,676 (8,616)
Net increase (decrease) in cash and cash equivalents (113,531) 29,675 29,423
Cash and cash equivalents:      
Cash and Cash Equivalents, at Carrying Value, Beginning 207,785 178,110 148,687
Cash and Cash Equivalents, at Carrying Value, End 94,254 207,785 178,110
Supplemental disclosures of cash flow information:      
Interest 37,772 37,499 34,451
Taxes $ 134,674 $ 129,347 $ 132,410