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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows – Operating activities:    
Net earnings, including noncontrolling interests $ 29,996 $ (13,679)
Adjustments to reconcile net earnings (loss) to net cash provided (used) by operating activities:    
Depreciation 18,928 20,148
Amortization of intangible and other assets 2,663 3,396
Stock-based compensation 9,953 11,011
Foreign currency, asset write downs and other non-cash adjustments (2,728) 6,893
Change in assets and liabilities:    
Accounts receivable, net (26,249) 5,039
Inventories, net (70,721) (48,715)
Contract assets, net 4,325 (5,655)
Prepaid expenses and other, net (16,019) (33,197)
Accounts payable 7,008 8,204
Contract liabilities 32,676 2,600
Accrued liabilities and income taxes payable 35,374 7,302
Retirement obligations and other liabilities 9,477 10,912
Net deferred taxes (8,095) (1,032)
Net cash flows provided (used) by operating activities 26,588 (26,773)
Cash flows – Investing activities:    
Capital expenditures (15,318) (14,052)
Other (1,138) 1,834
Net cash flows provided (used) by investing activities (16,456) (12,218)
Cash flows – Financing activities:    
Payments on term loan (10,000) (7,593)
Proceeds under other financing arrangements 78 555
Payments under other financing arrangements (1,515) (484)
Payments related to tax withholding for stock-based compensation (5,850) (4,304)
Payments of dividends (26,229) (26,128)
Other (303) (437)
Net cash flows provided (used) by financing activities (43,819) (38,391)
Effect of exchange rate changes on cash 3,442 (5,275)
Net change in cash and cash equivalents (30,245) (82,657)
Cash and cash equivalents at beginning of period 434,971 658,452
Cash and cash equivalents at end of period $ 404,726 $ 575,795