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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 16 Months Ended
Sep. 26, 2015
Sep. 27, 2014
Sep. 26, 2015
Sep. 27, 2014
Sep. 26, 2015
Cash flows from operating activities:          
Net earnings $ 13,549 $ 25,285 $ 74,495 $ 147,700  
Adjustments to reconcile net earnings to net cash flows from operations:          
Depreciation and amortization     70,859 64,460  
Noncash loss on trading securities     5,020 4,859  
Impairment of assets - restructuring activities     12,659 0  
Impairment of goodwill & intangible assets     15,200 0  
Non-cash debt refinancing costs     0 (2,478)  
Stock-based compensation     5,667 5,444  
Change in fair value of contingent consideration     0 4,300  
Defined benefit pension plan expense (benefit)     (460) 2,003  
Contribution to defined benefit pension plan     (15,735) (18,245)  
Gain on sale of property, plant and equipment     1,263 58  
Equity in earnings in nonconsolidated subsidiaries 0 4 0 34  
Deferred income taxes 5,272 (9,064) 5,217 (4,034)  
Changes in assets and liabilities (net of acquisitions):          
Receivables     5,551 (19,951)  
Inventories     (25,447) (4,152)  
Prepaid expenses     5,275 (19,182)  
Accounts payable     832 (21,082)  
Accrued expenses     7,368 (27,926)  
Other noncurrent liabilities     887 (6,409)  
Income taxes refundable     14,171 (22,702)  
Net cash flows from operating activities     182,822 82,697  
Cash flows from investing activities:          
Purchase of property, plant and equipment     (34,447) (63,412)  
Proceeds from sale of assets     3,256 2,107  
Acquisitions, net of cash acquired     0 (137,438)  
Other, net     5,980 2,992  
Net cash flows from investing activities     (25,211) (195,751)  
Cash flows from financing activities:          
Net borrowings under short-term agreements     (12,322) (1,065)  
Proceeds from long-term borrowings     37,000 652,540  
Principal payments on long-term borrowings     (37,878) (357,059)  
Settlement of financial derivatives     0 4,837  
Dividends paid     (26,708) (23,357)  
Dividends to noncontrolling interest     (2,323) (1,340)  
Debt issuance costs     0 (5,464)  
Purchase of treasury shares     (148,220) (316,296) $ (543,300)
Proceeds from exercises under stock plans     10,902 12,824  
Excess tax benefits from stock option exercises     1,458 3,916  
Purchase of common treasury shares—stock plan exercises     (12,135) (12,739)  
Net cash flows from financing activities     (190,226) (43,203)  
Effect of exchange rate changes on cash and cash equivalents     (26,113) (5,231)  
Net change in cash and cash equivalents     (58,728) (161,488)  
Cash and cash equivalents—beginning of year     371,579 613,706  
Cash and cash equivalents—end of period $ 312,851 $ 452,218 $ 312,851 $ 452,218 $ 312,851