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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net earnings (loss) $ (43,308) $ (12,061)
Adjustments to reconcile net earnings (loss) to cash provided (utilized) by operating activities:    
Depreciation of fixed assets 45,264 51,907
Amortization of intangibles 4,567 4,747
(Earnings) loss from equity method investments, net of distributions 2,115 1,854
Gain on sale of property, plant and equipment (1,858) (2,153)
Amortization of stock-based awards 13,242 13,917
Deferred compensation trust (26,145) 1,025
Deferred compensation obligation 28,584 930
Deferred taxes (25,549) (37,920)
Net retirement plan accrual (contributions) (3,577) (5,235)
Changes in operating assets and liabilities (13,928) (151,051)
Other items 3,117 (1,962)
Cash utilized by operating activities (17,476) (136,002)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of marketable securities (8,180) (44,868)
Proceeds from the sales and maturities of marketable securities 124,299 175,784
Capital expenditures (48,172) (65,082)
Proceeds from disposal of property, plant and equipment 10,720 16,494
Investments in partnerships and joint ventures (12,001) (15,574)
Other items 1,090 128
Cash provided by investing activities 67,756 66,882
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid (30,005) (30,242)
Distributions paid to noncontrolling interests (10,152) (23,226)
Capital contributions by noncontrolling interests 4,767 365
Taxes paid on vested restricted stock (3,549) (5,455)
Stock options exercised 1,466 4,019
Other items 7,653 (3,440)
Cash utilized by financing activities (29,820) (57,979)
Effect of exchange rate changes on cash 20,571 8,978
Increase (decrease) in cash and cash equivalents 41,031 (118,121)
Cash and cash equivalents at beginning of period 1,764,746 1,804,075
Cash and cash equivalents at end of period $ 1,805,777 $ 1,685,954