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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows — Operating activities:      
Net earnings, including noncontrolling interests $ 205,188 $ 198,015 $ 136,182
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:      
Depreciation 73,464 77,636 85,175
Amortization of intangible and other assets 10,283 13,317 14,647
Loss on extinguishment of debt 0 0 46,176
Stock-based compensation 27,808 25,530 29,478
Foreign currency, asset write downs and other non-cash adjustments (17,331) (27,758) 29,772
Change in assets and liabilities:      
Accounts receivable, net 4,744 (152,011) (8,675)
Inventories, net (59,831) (147,492) (32,124)
Contract assets, net (41,149) (41,768) 74,333
Prepaid expenses and other assets, net 7,825 17,461 1,302
Accounts payable 53,065 78,968 (19,505)
Contract liabilities 26,837 61,684 14,196
Accrued liabilities and income taxes payable 59,213 (5,226) (13,948)
Retirement obligations and other 38,497 (1,430) (15,690)
Net deferred taxes (62,841) (136,936) (91,200)
Net cash flows provided (used) by operating activities 325,772 (40,010) 250,119
Cash flows — Investing activities:      
Capital expenditures (67,359) (76,287) (54,936)
Proceeds from disposal of assets 2,057 4,422 2,663
Proceeds from termination of cross-currency swap 0 (66,004) 0
Affiliate investment activity (3,278) (225) (7,204)
Net cash flows provided (used) by investing activities (68,580) (6,086) (59,477)
Cash flows — Financing activities:      
Payments on senior notes 0 0 (1,243,548)
Proceeds from issuance of senior notes 0 0 498,280
Payments on long-term debt (40,000) (32,500) (7,500)
Proceeds from issuance of long-term debt 0 0 300,000
Payments of deferred loan costs 0 0 (6,739)
Proceeds from short-term financing 280,000 45,000 0
Payments on short-term financing (280,000) (45,000) 0
Proceeds under other financing arrangements 1,114 1,733 1,408
Payments under other financing arrangements (2,604) (1,790) (2,086)
Payments related to tax withholding for stock-based compensation (6,245) (4,683) (5,984)
Repurchases of common shares 0 0 (17,531)
Payments of dividends (104,955) (104,549) (104,604)
Other (324) (8,223) (11,403)
Net cash flows provided (used) by financing activities (153,014) (150,012) (599,707)
Effect of exchange rate changes on cash 6,529 (27,373) (27,757)
Net change in cash and cash equivalents 110,707 (223,481) (436,822)
Cash and cash equivalents at beginning of year 434,971 658,452 1,095,274
Cash and cash equivalents at end of year 545,678 434,971 658,452
Income taxes paid (net of refunds) 119,275 60,085 65,621
Interest paid $ 64,865 $ 41,629 $ 72,247