XML 19 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 120,824 $ 241,569
Restructuring payments (33,866) (30,775)
Special pension plan contributions (36,731) 0
Tax payments related to other investments 0 (26,375)
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss (Gain) on disposal of businesses 2,099 (107,548)
Depreciation and amortization 89,538 85,153
Gain on debt forgiveness (10,000) 0
Stock-based compensation 9,511 11,067
Restructuring charges and asset impairments, net 33,009 14,269
Changes in operating assets and liabilities, net of acquisitions/divestitures:    
Decrease in accounts receivable 46,828 36,484
Decrease in finance receivables 73,496 74,092
Increase in inventories (22,601) (17,414)
Decrease (Increase) in other current assets and prepayments 7,206 (15,984)
Decrease in accounts payable and accrued liabilities (80,039) (130,100)
(Decrease) Increase in current and non-current income taxes (10,801) 50,635
(Decrease) Increase in advance billings (45,410) 15,850
Other, net 10,524 85
Net cash provided by operating activities 153,587 201,008
Cash flows from investing activities:    
Purchases of available-for-sale securities (77,185) (113,339)
Proceeds from sales/maturities of available-for-sale securities 84,854 117,993
Net Proceeds from short-term and other investments 57,591 8,130
Capital expenditures (71,359) (89,612)
Proceeds from sale of buildings 17,671 38,640
Acquisition of businesses, net of cash acquired (13,417) (391,531)
Divestiture of businesses, net of cash transferred (3,039) 289,639
Change in reserve account deposits (7,143) (21,464)
Other investing activities (4,480) 743
Net cash used in investing activities (16,507) (160,801)
Cash flows from financing activities:    
Proceeds from the issuance of long-term debt 300,000 950
Principal payments of long-term debt (370,952) (354,909)
Increase in short-term borrowings, net 229,875 100,000
Dividends paid to stockholders (70,979) (75,637)
Common stock repurchases (194,776) 0
Dividends paid to noncontrolling interests (9,188) (9,188)
Other financing activities 0 1,585
Net cash used in financing activities (116,020) (337,199)
Effect of exchange rate changes on cash and cash equivalents 4,355 (28,903)
Increase (Decrease) in cash and cash equivalents 25,415 (325,895)
Cash and cash equivalents at beginning of period 650,557 1,054,118
Cash and cash equivalents at end of period 675,972 728,223
Cash interest paid 78,311 86,888
Cash income tax payments, net of refunds $ 84,225 $ 75,939