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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 405,031 $ 419,247 $ 414,543
Adjustments to reconcile to net cash provided by operating activities:      
Depreciation and amortization 102,469 89,597 89,354
Deferred income taxes 14,350 13,043 23,350
Gain on disposal of assets (10,836) (622) (3,768)
Stock-based compensation 24,587 23,160 22,648
Pension contributions (46,347) (67,897) (43,982)
Pension contributions      
Changes in assets and liabilities, net of acquisitions: (21,544) (91,712) (2,635)
Trade receivables 15,452 (37,628) (40,042)
Inventories (7,642) 89,273 19,403
Accounts payable 12,133 (17,399) (30,947)
Accruals for incentive compensation 49,103 29,124 (30,982)
Other assets (2,442) 46,862 64,605
Other liabilities 1,092 (61,470) 36,843
Net cash provided by operating activities 535,406 433,578 518,390
Cash flows from investing activities:      
Cash paid for acquisitions, net of cash received (including $15 million of contingent consideration related to the Aromor acquisition in 2014) (236,836) (493,424) (102,500)
Additions to property, plant and equipment (126,412) (101,030) (143,182)
Proceeds from disposal of assets 6,856 4,302 3,295
Maturity of net investment hedges 637 12,128 3,304
Proceeds from life insurance contracts 292 868 17,750
Net cash used in investing activities (355,463) (577,156) (221,333)
Cash flows from financing activities:      
Cash dividends paid to shareholders (184,897) (158,870) (133,239)
Increase (decrease) in revolving credit facility borrowings and overdrafts (134,344) 136,826 8,332
Proceeds from issuance of long-term debt (555,559) 0 (3,609)
Deferred financing costs (5,788) 0 (1,023)
Repayments of debt (125,000) 0 0
Loss on pre-issuance hedges (3,244) 0 0
Proceeds from issuance of stock under stock plans 813 886 1,864
Excess tax benefits on stock-based payments 4,650 12,055 6,330
Purchase of treasury stock (127,443) (122,193) (88,203)
Net cash used in financing activities (19,694) (131,296) (202,330)
Effect of exchange rate changes on cash and cash equivalents (18,245) (21,711) (21,659)
Net change in cash and cash equivalents 142,004 (296,585) 73,068
Cash and cash equivalents at beginning of year 181,988 478,573 405,505
Cash and cash equivalents at end of year 323,992 181,988 478,573
Cash paid for:      
Interest, net of amounts capitalized 50,576 46,760 46,106
Income taxes 107,898 102,734 92,087
Noncash investing activities:      
Accrued capital expenditures $ 26,049 $ 26,030 $ 14,376