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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 133,785 $ 139,412
Non-controlling interests in subsidiaries’ loss (72) (42)
Net income including non-controlling interests 133,713 139,370
Adjustments to reconcile Net income including non-controlling interests to Net cash provided by operating activities:    
Rationalization and asset impairment charges 859 354
Depreciation and amortization 35,900 34,555
Equity earnings in affiliates, net (1,497) (882)
Deferred income taxes (326) 19,704
Stock-based compensation 4,585 4,979
Pension expense 5,476 14,935
Pension contributions and payments (24,164) (81,351)
Foreign Currency Loss (Gain) 21,157 (1,362)
Other, net (4,757) 1,015
Changes in operating assets and liabilities, net of effects from acquisitions:    
Increase in accounts receivable (43,341) (43,367)
Increase in inventories (17,455) (12,308)
(Increase) decrease in other current assets (15,847) 6,209
Decrease in trade accounts payable (15,449) (11,840)
Increase in other current liabilities 43,227 19,412
Net change in other long-term assets and liabilities (3,476) (2,372)
NET CASH PROVIDED BY OPERATING ACTIVITIES 118,605 87,051
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (39,947) (31,048)
Acquisition of businesses, net of cash acquired (892) (4,676)
Proceeds from sale of property, plant and equipment 5,509 592
Other Investing Activities 778 (4,217)
NET CASH USED BY INVESTING ACTIVITIES (34,552) (39,349)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from short-term borrowings 1,151 514
Payments on short-term borrowings (9,914) (1,653)
Amounts due banks, net 71 (1,392)
Proceeds from Issuance of Long-term Debt 57 0
Payments on long-term borrowings (1,508) (224)
Proceeds from exercise of stock options 4,010 13,204
Excess tax benefits from stock-based compensation 2,478 5,465
Purchase of shares for treasury (119,333) (69,677)
Cash dividends paid to shareholders (37,119) (16,580)
Transactions with Noncontrolling Interests (2,330) (2,809)
NET CASH USED BY FINANCING ACTIVITIES (162,437) (73,152)
Effect of exchange rate changes on Cash and cash equivalents (17,156) (4,625)
DECREASE IN CASH AND CASH EQUIVALENTS (95,540) (30,075)
Cash and cash equivalents at beginning of period 299,825 286,464
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 204,285 $ 256,389