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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating Activities of Continuing Operations    
Net earnings $ 541,906 $ 374,097
Adjustments to reconcile net earnings to cash from operating activities:    
(Earnings) loss from discontinued operations, net (269,082) 6,525
Depreciation and amortization 158,209 151,421
Stock-based compensation 18,851 16,413
Cash effect of changes in current assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange):    
Accounts receivable 17,459 (167,833)
Inventories 861 (97,258)
Prepaid expenses and other assets 1,025 (7,197)
Accounts payable 6,588 61,213
Accrued compensation and employee benefits (87,716) (58,934)
Accrued expenses and other liabilities (21,313) 10,708
Accrued and deferred taxes, net (17,805) (58,646)
Other, net 1,260 (17,135)
Net cash provided by operating activities of continuing operations 350,243 213,374
Investing Activities of Continuing Operations    
Additions to property, plant and equipment (71,763) (75,245)
Acquisitions (net of cash and cash equivalents acquired) (6,500) (143,087)
Proceeds from the sale of property, plant and equipment 7,723 1,838
Proceeds from the sale of businesses 685,000 4,482
Other 0 (21,766)
Net cash provided by (used in) investing activities of continuing operations 614,460 (233,778)
Financing Activities of Continuing Operations    
Cash received from Knowles Corporation, net of cash distributed 0 359,197
Purchase of common stock (500,134) (317,571)
Net proceeds from exercise of stock options and SARs, including tax benefits 3,481 15,738
Change in notes payable, net (396,100) (178,500)
Dividends paid to stockholders (127,659) (126,430)
Payments to settle employee tax obligations on exercise of share-based awards (4,478) (18,364)
Reduction of long-term debt (42) (45)
Net cash used in financing activities (1,024,932) (265,975)
Cash Flows from Discontinued Operations    
Net cash provided by (used in) operating activities of discontinued operations (10,053) 47,228
Net cash provided by (used in) investing activities of discontinued operations (1,984) (15,607)
Net cash provided by (used in) discontinued operations (12,037) 31,621
Effect of exchange rate changes on cash and cash equivalents (14,147) (1,736)
Net decrease in cash and cash equivalents (86,413) (256,494)
Cash and cash equivalents at beginning of period 681,581 803,882
Cash and cash equivalents at end of period $ 595,168 $ 547,388