XML 22 R8.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH PROVIDED BY OPERATING ACTIVITIES:      
Net earnings $ 166,626 $ 241,686 $ 200,261
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 57,513 49,534 57,245
Deferred income taxes 5,613 2,863 (1,242)
Stock-based compensation arrangements 27,797 25,748 30,788
Gain on sale of assets, net 0 (19,166) (4,129)
Other, net 11,992 7,722 (791)
Increase (decrease) in cash, net of acquisitions, resulting from changes in:      
Accounts receivable (10,704) 28,258 (76,705)
Inventories 51,170 (74,816) 11,363
Prepaid expenses (7,706) 1,858 5,754
Other assets 10,750 4,333 24,261
Accounts payable (33,465) 38,660 15,040
Deferred revenue 2,928 3,503 93
Accrued payroll and other liabilities (16,138) (20,072) 17,240
Accrued income taxes 64,822 (9,319) (8,501)
Pension & other long term liabilities 2,582 3,688 4,089
Net cash provided by operating activities 312,280 275,814 226,244
CASH FLOWS FROM INVESTING ACTIVITIES:      
Additions to property and equipment (35,940) (68,234) (61,262)
Business acquisitions, net of cash acquired (419,203) (92,260) 0
Proceeds from sale of assets 7,331 25,649 12,000
Net cash used by investing activities (447,812) (134,845) (49,262)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net proceeds of long-term debt, including current portion 524,560 0 0
Repayment of long-term debt (367,435) (15,000) (15,000)
Repurchase of common stock (66,057) (123,193) (139,238)
Dividends paid (65,920) (61,399) (56,513)
Proceeds from shares issued pursuant to stock-based compensation plans 11,966 24,835 47,581
Excess tax benefit of stock options exercised 1,480 8,243 11,161
Other financing activities 13 (24) (18)
Net cash provided (used) by financing activities 38,607 (166,538) (152,027)
Effect of exchange rate changes on cash (14,511) (33,020) (36,057)
Net decrease in cash and cash equivalents (111,436) (58,589) (11,102)
Cash and cash equivalents, beginning of year 472,785 531,374 542,476
Cash and cash equivalents, end of year $ 361,349 $ 472,785 $ 531,374