XML 21 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net earnings $ 375,972 $ 384,370 $ 352,820
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 33,458 32,743 33,087
Amortization 42,671 36,052 30,951
Deferred tax provision (2,745) 1,878 7,137
Gain (Loss) on Disposition of Property Plant Equipment (3,394) 0 0
Share-based compensation 16,582 15,306 14,223
Provisional one-time charge on US tax reform 71,982 0 0
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax 0 8,189 0
Other 243 181 155
Increase (decrease) in cash resulting from changes in:      
Trade accounts receivable, net (38,985) (52,151) 1,625
Inventories (13,680) (12,431) (18,785)
Other current assets (6,251) 291 (5,119)
Trade accounts payable 11,885 9,633 1,698
Taxes payable 13,615 (3,072) 2,879
Accruals and other 14,972 39,769 19,126
Net cash provided by operating activities 516,325 460,758 439,797
Cash flows from investing activities:      
Proceeds from sale of property, plant and equipment 11,973 423 949
Purchase of property, plant and equipment (127,426) (123,957) (82,506)
Acquisitions (108,445) (111,381) (13,779)
Net hedging settlements on intercompany loans (6,554) (3,459) 5,415
Net cash used in investing activities (217,344) (231,456) (100,751)
Cash flows from financing activities:      
Proceeds from borrowings 1,244,195 905,774 741,864
Repayments of borrowings (1,185,172) (594,178) (594,477)
Proceeds from exercise of stock options 28,649 25,471 29,556
Repurchases of common stock (399,997) (499,992) (494,966)
Acquisition Contingent Consideration Payment 0 (471) (572)
Debt issuance costs (7,205) (209) (1,366)
Net cash provided by (used in) financing activities (319,530) (163,605) (319,961)
Effect of exchange rate changes on cash and cash equivalents 10,562 (5,910) (5,461)
Net increase (decrease) in cash and cash equivalents (9,987) 59,787 13,624
Cash and cash equivalents:      
Cash and Cash Equivalents, at Carrying Value, Beginning 158,674 98,887 85,263
Cash and Cash Equivalents, at Carrying Value, End 148,687 158,674 98,887
Supplemental disclosures of cash flow information:      
Interest 33,333 28,025 27,303
Taxes $ 109,730 $ 92,586 $ 85,458