XML 22 R8.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net earnings $ 872,502 $ 768,985 $ 602,739
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 46,784 44,982 42,044
Amortization 66,239 63,075 56,665
Deferred tax (benefit) provision 26,517 563 (12,784)
Share-based compensation 19,661 19,595 18,687
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability 0 6,849  
Other 0 381 (2,399)
Increase (decrease) in cash resulting from changes in:      
Trade accounts receivable, net (83,417) (66,468) (4,495)
Inventories (43,392) (118,718) (3,836)
Other current assets (16,263) (5,040) (4,763)
Trade accounts payable (13,826) 93,973 (17,803)
Taxes payable 55,859 19,688 14,049
Accruals and other (71,597) 80,960 36,595
Net Cash Provided by (Used in) Operating Activities 859,067 908,825 724,699
Cash flows from investing activities:      
Proceeds from sale of property, plant and equipment 399 3,652 3,106
Purchase of property, plant and equipment (121,241) (107,580) (92,494)
Proceeds from government funding 29,670    
Acquisitions (37,951) (220,862) (6,242)
Net hedging settlements on intercompany loans 10,272 (10,682) 4,730
Net cash used in investing activities (139,395) (314,108) (100,360)
Cash flows from financing activities:      
Proceeds from borrowings 2,307,256 2,427,519 1,489,040
Repayments of borrowings (1,947,398) (2,035,546) (1,483,869)
Proceeds from exercise of stock options 33,216 20,463 26,719
Repurchases of common stock (1,099,998) (999,998) (774,998)
Acquisition contingent consideration paid (7,912) 0 0
Other financing activities (1,203) (2,987) (800)
Net cash provided by (used in) financing activities (716,039) (590,549) (743,908)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations (6,231) 142 6,038
Net increase (decrease) in cash and cash equivalents (2,598) 4,310 (113,531)
Cash and cash equivalents:      
Cash and Cash Equivalents, at Carrying Value, Beginning 98,564 94,254 207,785
Cash and Cash Equivalents, at Carrying Value, End 95,966 98,564 94,254
Supplemental disclosures of cash flow information:      
Interest 52,314 41,338 37,772
Taxes $ 114,038 $ 152,657 $ 134,674