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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 56,453 $ 66,806
Non-controlling interests in subsidiaries’ (loss) earnings (29) 37
Net income including non-controlling interests 56,424 66,843
Adjustments to reconcile Net income including non-controlling interests to Net cash provided (used) by operating activities:    
Rationalization and asset impairment (gains) charges (35) 114
Depreciation and amortization 17,931 17,397
Equity earnings in affiliates, net (796) (436)
Deferred income taxes 3,726 13,237
Stock-based compensation 2,293 2,468
Pension expense 2,800 7,615
Pension contributions and payments (22,081) (55,321)
Foreign Currency Transaction Loss (Gain), before Tax 18,150 (1,162)
Other, net (185) (198)
Changes in operating assets and liabilities, net of effects from acquisitions:    
Increase in accounts receivable (43,885) (66,585)
Increase in inventories (15,157) (16,334)
(Increase) decrease in other current assets (1,420) 3,654
(Decrease) increase in trade accounts payable (12,108) 8,268
Increase in other current liabilities 6,967 528
Net change in other long-term assets and liabilities 1,007 (236)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES 13,631 (20,148)
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (14,506) (15,138)
Acquisition of businesses, net of cash acquired (892) (549)
Proceeds from sale of property, plant and equipment 1,066 105
Other Investing Activities 573 0
NET CASH USED BY INVESTING ACTIVITIES (13,759) (15,582)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from short-term borrowings 1,018 390
Payments on short-term borrowings (8,229) (1,455)
Amounts due banks, net 590 (280)
Payments on long-term borrowings (1,435) (147)
Proceeds from exercise of stock options 2,956 9,658
Excess tax benefits from stock-based compensation 1,652 3,989
Purchase of shares for treasury (51,021) (12,780)
Cash dividends paid to shareholders (18,623) 0
Transactions with Noncontrolling Interests (2,330) 0
NET CASH USED BY FINANCING ACTIVITIES (75,422) (625)
Effect of exchange rate changes on Cash and cash equivalents (18,888) (1,654)
DECREASE IN CASH AND CASH EQUIVALENTS (94,438) (38,009)
Cash and cash equivalents at beginning of period 299,825 286,464
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 205,387 $ 248,455