XML 22 R6.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Apr. 03, 2016
Apr. 05, 2015
Operating Activities    
Net income $ 229,832 $ 244,737
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 59,913 58,338
Stock-based compensation expense 11,678 13,889
Excess tax benefits from stock-based compensation (6,091) (17,066)
Deferred income taxes (3,409) (11,577)
Non-cash business realignment and impairment charges 0 4,934
Contributions to pension and other benefits plans (8,839) (5,307)
Write-down of equity investments 5,593 0
Gain on settlement of SGM liability (see Note 2) (26,650) 0
Changes in assets and liabilities, net of effects from business acquisitions and divestitures:    
Accounts receivable—trade, net 55,046 (5,965)
Inventories (19,412) 79,220
Accounts payable and accrued liabilities (106,279) (124,585)
Other assets and liabilities 65,733 22,615
Net cash provided by operating activities 257,115 259,233
Investing Activities    
Capital additions (33,607) (57,781)
Capitalized software additions (7,832) (4,954)
Proceeds from sales of property, plant and equipment 1,934 214
Proceeds from sale of business 0 32,408
Equity investments in tax credit qualifying partnerships (9,672) 0
Business acquisitions, net of cash and cash equivalents acquired 0 (218,952)
Net cash used in investing activities (49,177) (249,065)
Financing Activities    
Net increase in short-term debt 153,863 288,946
Long-term borrowings 0 944
Repayment of long-term debt 0 (328)
Payment of SGM liability (see Note 2) (35,762) 0
Cash dividends paid (122,367) (114,381)
Exercise of stock options 30,890 37,925
Excess tax benefits from stock-based compensation 6,091 17,066
Repurchase of common stock (303,950) (306,673)
Net cash used in financing activities (271,235) (76,501)
Effect of exchange rate changes on cash and cash equivalents 2,726 (2,831)
Decrease in cash and cash equivalents (60,571) (69,164)
Cash and cash equivalents, beginning of period 346,529 374,854
Cash and cash equivalents, end of period 285,958 305,690
Supplemental Disclosure    
Interest paid 27,786 27,745
Income taxes paid $ 29,574 $ 17,845