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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net earnings $ 234,623 $ 185,325
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation and amortization 86,836 83,520
Loss on divestiture 0 4,651
Loss/(gain) on sale/disposal of long-lived assets 157 (4,241)
Deferred income taxes (6,392) 5,759
Share-based compensation 13,213 12,027
Change in operating assets and liabilities, net of businesses acquired and divested:    
Accounts receivable, net (56,138) (70,548)
Inventories, net (56,753) (89,318)
Progress Payments 64 (1,330)
Accounts payable and accrued expenses (42,020) (42,360)
Deferred revenue 37,598 (39,230)
Net pension and postretirement liabilities (14,128) (3,913)
Other current and long-term assets and liabilities (31,343) (37,955)
Net cash provided by operating activities 165,717 2,387
Cash flows from investing activities:    
Proceeds from sale/disposal of long-lived assets 464 9,110
Purchases of investments 0 (10,000)
Additions to property, plant, and equipment (32,037) (28,789)
Acquisition of business, net of cash acquired 0 (247,215)
Additional consideration paid on prior year acquisitions 0 5,062
Net cash used for investing activities (31,573) (281,956)
Cash flows from financing activities:    
Borrowings under revolving credit facility 586,230 1,332,219
Payments of revolving credit facilities (586,230) (1,038,019)
Principal payments on debt (202,500) 0
Repurchases of common stock (37,366) (44,434)
Proceeds from share-based compensation 10,583 9,997
Dividends paid (14,950) (14,220)
Proceeds from (Payments for) Other Financing Activities (813) (755)
Net cash (used for)/provided by financing activities (245,046) 244,788
Effect of exchange-rate changes on cash 2,737 (22,671)
Net decrease in cash and cash equivalents (108,165) (57,452)
Cash and cash equivalents at beginning of period 256,974 171,004
Cash and cash equivalents at end of period $ 148,809 $ 113,552