XML 17 R7.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net earnings $ 190,580 $ 147,399
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation and amortization 86,240 84,769
Gain on sale/disposal of long-lived assets (604) (370)
Deferred income taxes 4,480 4,258
Share-based compensation 10,861 11,777
Impairment of assets held for sale 8,656 0
Foreign exchange loss on substantial liquidation of subsidiary 0 9,498
Restructuring Costs   10,254
Change in operating assets and liabilities, net of businesses acquired and divested:    
Accounts receivable, net (81,498) 1,987
Inventories, net (5,045) (33,322)
Progress Payments (3,960) (3,036)
Accounts payable and accrued expenses (51,702) (81,535)
Deferred revenue 115 (8,841)
Net pension and postretirement liabilities 2,406 (150,674)
Other current and long-term assets and liabilities (4,768) 11,620
Net cash provided by operating activities 155,761 3,784
Cash flows from investing activities:    
Proceeds from sale/disposal of long-lived assets 3,389 2,476
Additions to property, plant, and equipment (27,858) (36,341)
Acquisition of businesses, net of cash acquired 0 82,053
Payments for Previous Acquisition 5,340 0
Net cash used for investing activities (29,809) (115,918)
Cash flows from financing activities:    
Borrowings under revolving credit facility 166,771 389,398
Payment of revolving credit facility (166,771) (389,398)
Borrowings on debt 0 300,000
Repurchases of common stock (79,092) (137,155)
Proceeds from share-based compensation 9,705 9,908
Dividends paid (14,320) (14,160)
Proceeds from (Payments for) Other Financing Activities (699) (648)
Net cash (used for)/provided by financing activities (84,406) 157,945
Effect of exchange-rate changes on cash (5,378) (10,023)
Net increase in cash and cash equivalents 36,168 35,788
Cash and cash equivalents at beginning of period 198,248 391,033
Cash and cash equivalents at end of period $ 234,416 $ 426,821