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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows – Operating activities:    
Net earnings, including noncontrolling interests $ 12,277 $ 119,971
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:    
Depreciation 43,350 46,666
Amortization of intangible and other assets 6,136 8,003
Stock-based compensation 18,475 15,354
Foreign currency, asset write downs and other non-cash adjustments 21,739 (20,206)
Change in assets and liabilities:    
Accounts receivable, net 858 (13,445)
Inventories, net (36,575) (47,610)
Contract assets, net (44,229) 12,432
Prepaid expenses and other assets, net (9,341) 4,949
Accounts payable (9,139) (20,660)
Contract liabilities 3,468 6,744
Accrued liabilities and income taxes payable 5,787 (56,935)
Retirement obligations and other 13,618 (6,824)
Net deferred taxes (5,193) 911
Net cash flows provided (used) by operating activities 21,231 49,350
Cash flows – Investing activities:    
Capital expenditures (31,971) (25,267)
Proceeds from disposal of assets and other 10,810 40,302
Net cash flows provided (used) by investing activities (21,161) 15,035
Cash flows – Financing activities:    
Payments on long-term debt 0 (30,000)
Proceeds under other financing arrangements 1,477 1,699
Payments under other financing arrangements (2,497) (5,124)
Repurchases of common shares 32,112 0
Payments related to tax withholding for stock-based compensation (3,850) (3,441)
Payments of dividends (52,054) (49,772)
Other (2,845) (190)
Net cash flows provided (used) by financing activities (91,881) (86,828)
Effect of exchange rate changes on cash (17,464) (770)
Net change in cash and cash equivalents (109,275) (23,213)
Cash and cash equivalents at beginning of period 670,980 619,683
Cash and cash equivalents at end of period $ 561,705 $ 596,470