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v3.22.2.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
|
|
|
Cash flows from operating activities: |
|
|
|
Net earnings |
$ 171,698
|
$ 208,649
|
$ 240,395
|
Adjustments to reconcile net earnings to net cash provided by operating activities: |
|
|
|
Depreciation and amortization |
120,628
|
129,524
|
131,158
|
Impairment of assets sold |
|
|
37,902
|
Net (gain) on sales of assets and businesses |
(1,775)
|
(4,452)
|
(23,598)
|
Gain on cross-currency interest rate swaps, net |
|
|
(30,481)
|
Stock-based compensation |
20,109
|
21,475
|
22,902
|
Deferred income taxes |
(23,226)
|
(11,964)
|
1,311
|
Changes in operating assets and liabilities: |
|
|
|
Trade accounts receivable |
(54,380)
|
41,241
|
52,095
|
Unbilled receivables (contract assets) |
(44,451)
|
(16,491)
|
(22,028)
|
Costs to fulfill a contract |
(17,118)
|
(19,761)
|
(27,446)
|
Inventories |
(110,196)
|
18,871
|
61,019
|
Accounts payable and accrued liabilities |
122,963
|
61,793
|
(153,318)
|
Contract liabilities |
12,466
|
24,848
|
25,882
|
Income taxes |
29,644
|
21,509
|
(37,099)
|
Retirement benefit obligations |
(4,424)
|
(6,848)
|
(3,777)
|
Other |
(28,300)
|
(3,725)
|
74,574
|
Net cash provided by operating activities |
193,638
|
464,669
|
349,491
|
Cash flows from investing activities: |
|
|
|
Payments for purchase of property, plant, and equipment |
(52,868)
|
(37,689)
|
(47,087)
|
Proceeds from sale of assets |
43
|
154
|
30,173
|
Payments for business acquisition, net of cash acquired |
(21,549)
|
|
|
Proceeds from business divestiture |
6,000
|
|
10,443
|
Proceeds from sales of short-term investments |
12,557
|
16,575
|
12,700
|
Payments for purchases of short-term investments |
(9,632)
|
(14,337)
|
(13,109)
|
Net cash used in investing activities |
(65,449)
|
(35,297)
|
(6,880)
|
Cash flows from financing activities: |
|
|
|
Cash dividends paid |
(44,978)
|
(36,041)
|
(37,664)
|
Proceeds from sales of treasury stock |
21,897
|
34,706
|
24,969
|
Payments for repurchases of common stock |
(485,300)
|
(33,344)
|
(13,346)
|
Borrowings on revolving lines of credit and short-term borrowings |
952,000
|
74,400
|
1,248,135
|
Payments on revolving lines of credit and short-term borrowings |
(885,200)
|
(74,400)
|
(1,510,746)
|
Payments of long-term debt and finance lease obligations |
(797)
|
(101,639)
|
(1,590)
|
Net cash used in financing activities |
(442,378)
|
(136,318)
|
(290,242)
|
Effect of exchange rate changes on cash and cash equivalents |
(26,429)
|
2,138
|
1,828
|
Net change in cash and cash equivalents |
(340,618)
|
295,192
|
54,197
|
Cash and cash equivalents, including restricted cash, at beginning of year |
448,462
|
153,270
|
99,073
|
Cash and cash equivalents, including restricted cash, at end of year |
$ 107,844
|
$ 448,462
|
$ 153,270
|
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