XML 29 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net earnings $ 788,778 $ 872,502 $ 768,985
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 48,951 46,784 44,982
Amortization 72,213 66,239 63,075
Deferred tax (benefit) provision (13,373) 26,517 563
Share-based compensation 17,928 19,661 19,595
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability 0 0 6,849
Other 0 0 381
Increase (decrease) in cash resulting from changes in:      
Trade accounts receivable, net 50,296 (83,417) (66,468)
Inventories 71,021 (43,392) (118,718)
Other current assets 20,666 (16,263) (5,040)
Trade accounts payable (40,554) (13,826) 93,973
Taxes payable 12,260 55,859 19,688
Accruals and other (62,312) (71,597) 80,960
Net Cash Provided by (Used in) Operating Activities 965,874 859,067 908,825
Cash flows from investing activities:      
Proceeds from sale of property, plant and equipment 835 399 3,652
Purchase of property, plant and equipment (105,323) (121,241) (107,580)
Proceeds from government funding 6,094 29,670  
Acquisitions (5,811) (37,951) (220,862)
Net hedging settlements on intercompany loans 27,489 10,272 (10,682)
Net cash used in investing activities (131,694) (139,395) (314,108)
Cash flows from financing activities:      
Proceeds from borrowings 2,126,797 2,307,256 2,427,519
Repayments of borrowings (2,097,023) (1,947,398) (2,035,546)
Proceeds from exercise of stock options 19,234 33,216 20,463
Repurchases of common stock (900,000) (1,099,998) (999,998)
Acquisition contingent consideration paid (7,767) (7,912) 0
Other financing activities (826) (1,203) (2,987)
Net cash provided by (used in) financing activities (859,585) (716,039) (590,549)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations (754) (6,231) 142
Net increase (decrease) in cash and cash equivalents (26,159) (2,598) 4,310
Cash and cash equivalents:      
Cash and Cash Equivalents, at Carrying Value, Beginning 95,966 98,564 94,254
Cash and Cash Equivalents, at Carrying Value, End 69,807 95,966 98,564
Supplemental disclosures of cash flow information:      
Interest 75,618 52,314 41,338
Taxes $ 178,255 $ 114,038 $ 152,657