XML 19 R6.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS
12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Operating Activities of Continuing Operations      
Net earnings $ 683,451,000 $ 677,918,000 $ 570,267,000
Adjustments to reconcile net earnings to cash from operating activities:      
(Loss) earnings from discontinued operations, net 0 0 20,878,000
Gain (Loss) on Sale of Assets and Asset Impairment Charges 0 46,946,000 0
Gain (Loss) on Extinguishment of Debt 0 23,543,000 0
Depreciation and amortization 279,051,000 272,287,000 282,580,000
Stock-based compensation 25,026,000 29,702,000 23,698,000
Gain on sale of business (5,213,000) 0 0
Provision for losses on accounts receivable (net of recoveries) 11,171,000 5,933,000 3,875,000
Deferred income taxes (25,643,000) (11,966,000) (35,448,000)
Employee benefit plan expense 7,205,000 5,844,000 11,912,000
Other, net (6,593,000) (3,652,000) (6,762,000)
Cash effect of changes assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange):      
Accounts receivable 122,407,000 (7,903,000) (87,573,000)
Inventories 10,519,000 (56,870,000) (85,052,000)
Prepaid expenses and other assets (17,915,000) (25,797,000) (7,453,000)
Accounts payable (95,636,000) 12,670,000 105,586,000
Accrued compensation and employee benefits 12,277,000 15,580,000 (7,037,000)
Accrued expenses and other liabilities 129,916,000 (7,056,000) (4,051,000)
Accrued taxes (5,412,000) (10,437,000) 29,706,000
Contributions to employee benefit plans (19,801,000) (21,436,000) (25,933,000)
Net cash provided by operating activities of continuing operations 1,104,810,000 945,306,000 789,193,000
Investing Activities of Continuing Operations      
Additions to property, plant and equipment (165,692,000) (186,804,000) (170,994,000)
Payments to Acquire Businesses 335,786,000 215,687,000 68,557,000
Proceeds from the sale of property, plant and equipment 7,207,000 4,168,000 5,908,000
Proceeds from the sale of businesses 15,400,000 24,218,000 3,937,000
Other (2,508,000) (10,150,000) (15,774,000)
Net cash provided by (used in) investing activities of continuing operations (481,379,000) (384,255,000) (245,480,000)
Financing Activities of Continuing Operations      
Cash received from Apergy, net of cash distributed 0 0 689,643,000
Proceeds from long-term debt 0 847,469,000 0
Change in commercial paper and notes payable, net (84,700,000) (135,650,000) (10,722,000)
Repayment of long-term debt 0 (805,112,000) (350,000,000)
Dividends to stockholders (284,312,000) (282,197,000) (283,570,000)
Purchase of common stock (106,279,000) (143,280,000) (894,977,000)
Payments for employee tax obligations upon exercise of share-based awards (28,476,000) (37,370,000) (46,254,000)
Other (2,523,000) (1,902,000) (1,958,000)
Net cash provided by (used in) financing activities of continuing operations (506,290,000) (558,042,000) (897,838,000)
Cash Flows from Discontinued Operations      
Net cash provided by operating activities of discontinued operations 0 0 9,442,000
Net cash used in investing activities of discontinued operations 0 0 (23,705,000)
Net cash used in financing activities of discontinued operations 0 0 0
Net cash (used in) provided by discontinued operations 0 0 (14,263,000)
Effect of exchange rate changes on cash and cash equivalents (1,319,000) (1,977,000) 10,645,000
Net decrease in cash and cash equivalents 115,822,000 1,032,000 (357,743,000)
Cash and cash equivalents 513,075,000 397,253,000 396,221,000
Supplemental information - cash paid during the year for [Abstract]      
Income taxes 199,657,000 191,084,000 135,427,000
Interest $ 108,119,000 $ 126,753,000 $ 131,823,000