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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES  
Net income$ 159,453$ 88,741
Noncontrolling interests in subsidiaries' (loss) earnings(131)1,960
Net income including noncontrolling interests159,32290,701
Adjustments to reconcile Net income including noncontrolling interests to Net cash provided by operating activities:  
Rationalization and asset impairment charges (gains)23(4,834)
Depreciation and amortization47,08942,422
Equity earnings in affiliates, net(1,316)(704)
Deferred income taxes4,992(858)
Stock-based compensation4,7236,570
Amortization of terminated interest rate swaps(1,396)(1,396)
Amortization of pension actuarial losses and prior service cost16,34515,563
Other non-cash items, net3,3923,581
Changes in operating assets and liabilities, net of effects from acquisitions:  
Increase in accounts receivable(72,287)(48,598)
Increase in inventories(98,727)(57,211)
Increase in other current assets(8,539)(2,880)
Increase in trade accounts payable34,98854,315
Increase in other current liabilities75,62344,146
Decrease in accrued pensions(30,490)(29,241)
Net change in other long-term assets and liabilities(3,364)(7,862)
NET CASH PROVIDED BY OPERATING ACTIVITIES130,378103,714
CASH FLOWS FROM INVESTING ACTIVITIES  
Capital expenditures(50,750)(43,208)
Acquisition of businesses, net of cash acquired(62,340)(1,182)
Proceeds from sale of property, plant and equipment1,0039,746
NET CASH USED BY INVESTING ACTIVITIES(112,087)(34,644)
CASH FLOWS FROM FINANCING ACTIVITIES  
Proceeds from short-term borrowings12,18221,014
Payments on short-term borrowings(13,451)(19,916)
Amounts due banks, net(11)(17,727)
Proceeds from long-term borrowings 63
Payments on long-term borrowings(1,598)(1,039)
Proceeds from exercise of stock options7,2111,319
Tax benefit from exercise of stock options2,327469
Purchase of shares for treasury(27,630)(22,960)
Cash dividends paid to shareholders(39,001)(35,584)
NET CASH USED BY FINANCING ACTIVITIES(59,971)(74,361)
Effect of exchange rate changes on Cash and cash equivalents(3,053)(308)
DECREASE IN CASH AND CASH EQUIVALENTS(44,733)(5,599)
Cash and cash equivalents at beginning of period366,193388,136
CASH AND CASH EQUIVALENTS AT END OF PERIOD$ 321,460$ 382,537