XML 27 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 27, 2015
Jun. 28, 2014
Cash flows from operating activities:    
Net earnings $ 60,946 $ 122,415
Adjustments to reconcile net earnings to net cash flows from operations:    
Depreciation and amortization 47,761 43,368
Noncash loss on trading securities 4,582 3,501
Impairment of assets 9,292  
Stock-based compensation 3,513 3,686
Defined benefit pension plan expense (305) 1,334
Contribution to defined benefit pension plan (15,735) (17,484)
Gain on sale of property, plant and equipment 542 (102)
Equity in earnings in nonconsolidated subsidiaries   30
Deferred income taxes (55) 5,030
Changes in assets and liabilities (net of acquisitions):    
Receivables 32,511 21,083
Inventories (27,746) 6,624
Prepaid expenses (3,087) (18,289)
Accounts payable (5,021) (28,633)
Accrued expenses (6,431) (30,415)
Other noncurrent liabilities 1,761 1,766
Income taxes refundable 15,817 (22,063)
Net cash flows from operating activities 118,345 91,851
Cash flows from investing activities:    
Purchase of property, plant and equipment (24,758) (46,991)
Proceeds from sale of assets 1,101 1,151
Acquisitions, net of cash acquired   (120,483)
Other, net 5,896 (2,940)
Net cash flows from investing activities (17,761) (169,263)
Cash flows from financing activities:    
Net borrowings under short-term agreements (5,890) (1,861)
Proceeds from long-term borrowings 33,000  
Principal payments on long-term borrowings (33,657) (259)
Dividends paid (17,956) (13,427)
Dividends to noncontrolling interest (1,669) (1,340)
Purchase of treasury shares (121,020) (77,084)
Proceeds from exercises under stock plans 9,454 11,996
Excess tax benefits from stock option exercises 1,394 3,576
Purchase of common treasury shares - stock plan exercises (10,490) (11,984)
Net cash flows from financing activities (146,834) (90,383)
Effect of exchange rate changes on cash and cash equivalents (7,806) 10,016
Net change in cash and cash equivalents (54,056) (157,779)
Cash and cash equivalents - beginning of year 371,579 613,706
Cash and cash equivalents - end of period $ 317,523 $ 455,927