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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 127,478 $ 254,686 $ 293,780
Non-controlling interests in subsidiaries' (loss) earnings (66) (806) (2,093)
Net income including non-controlling interests 127,412 253,880 291,687
Adjustments to reconcile Net income including non-controlling interests to Net cash provided by operating activities:      
Rationalization and asset impairment charges 6,269 29,574 5,092
Depreciation and amortization 64,007 69,607 68,883
Equity earnings in affiliates, net (530) (1,848) (1,660)
Deferred income taxes (55,728) 17,887 17,817
Stock-based compensation 7,932 8,416 9,734
Pension expense and settlement charges 162,815 12,395 29,774
Pension contributions and payments (53,547) (36,072) (87,356)
Other, net 958 18,095 1,910
Changes in operating assets and liabilities, net of effects from acquisitions:      
Decrease (increase) in accounts receivable 56,741 5,876 (5,437)
Decrease (increase) in inventories 56,067 (5,718) 13,310
(Increase) decrease in other current assets (19,972) 32,081 2,811
(Decrease) increase in accounts payable (46,911) 2,135 794
Decrease in other current liabilities (463) (3,736) (7,785)
Net change in other long-term assets and liabilities 5,808 (870) (680)
NET CASH PROVIDED BY OPERATING ACTIVITIES 310,858 401,702 338,894
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (50,507) (72,990) (76,015)
Acquisition of businesses, net of cash acquired (37,076) (24,230) (53,161)
Proceeds from sale of property, plant, and equipment 2,310 17,457 1,393
Other investing activities (79) 778 (1,717)
NET CASH USED BY INVESTING ACTIVITIES (85,352) (78,985) (129,500)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from short-term borrowings 12,505 11,124 1,230
Payments on short-term borrowings (9,268) (12,226) (2,164)
Amounts due banks, net (37,466) 48,978 (517)
Proceeds from long-term borrowings 357,780 8,754 61
Payments on long-term borrowings (6,945) (3,299) (450)
Proceeds from exercise of stock options 5,996 9,116 20,297
Excess tax benefit from stock-based compensation 1,974 5,967 10,602
Purchase of shares for treasury (399,494) (307,178) (167,879)
Cash dividends paid to shareholders (86,968) (73,261) (49,277)
Other Financing Activities (8,022) (2,330) (6,087)
NET CASH USED BY FINANCING ACTIVITIES (169,908) (314,355) (194,184)
Effect of exchange rate changes on cash and cash equivalents (29,794) (29,808) (1,849)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 25,804 (21,446) 13,361
Cash and cash equivalents at beginning of year 278,379 299,825 286,464
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 304,183 $ 278,379 $ 299,825