XML 18 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Activities    
Net earnings $ 336,305 $ 217,646
Adjustments to reconcile net earnings to cash from operating activities:    
Depreciation and amortization 193,016 176,698
Stock-based compensation expense 17,469 14,360
Gain on sale of assets (910) (1,530)
Gain on sale of businesses (90,093) (11,228)
Cash effect of changes in assets and liabilities (excluding effects of acquisitions, dispositions and foreign exchange):    
Accounts receivable, net (106,927) 429
Inventories (93,132) (16,429)
Prepaid expenses and other assets (7,238) (5,449)
Accounts payable 97,677 5,377
Accrued compensation and employee benefits (21,399) (42,534)
Accrued expenses and other liabilities (38,169) 16,135
Accrued and deferred taxes, net (28,420) 11,746
Other, net (24,231) (23,940)
Net cash provided by operating activities 233,948 341,281
Investing Activities    
Additions to property, plant and equipment (90,594) (72,652)
Acquisitions, net of cash and cash equivalents acquired (25,568) (475,236)
Proceeds from sale of property, plant and equipment 4,479 5,804
Proceeds from sale of businesses 121,175 47,300
Other 21,151 (488)
Net cash provided by (used in) investing activities 30,643 (495,272)
Financing Activities    
Proceeds and Excess Tax Benefits from Share-based Compensation 0 3,966
Change in commercial paper and notes payable (157,444) 185,556
Dividends paid to stockholders (137,182) (131,253)
Payments to settle employee tax obligations on exercise of share-based awards (12,028) (7,440)
Other (2,912) 0
Net cash (used in) provided by financing activities (309,566) 50,829
Cash Flows    
Effect of exchange rate changes on cash and cash equivalents (2,583) (3,883)
Net decrease in cash and cash equivalents (47,558) (107,045)
Cash and cash equivalents at beginning of period 349,146 362,185
Cash and cash equivalents at end of period $ 301,588 $ 255,140