XML 52 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
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 $ 162,934 $ 161,264
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 42,325 41,743
Amortization 24,493 23,434
Amortization of deferred financing costs 2,285 2,592
Deferred income taxes (4,893) (8,564)
Share based compensation expense 13,358 12,023
Stock option income tax benefit (349) (1,122)
Equity in earnings from unconsolidated affiliates 657 (403)
Other Noncash Income (Expense) (9,110) 11,480
Changes in operating assets and liabilities, net of acquisitions:    
Accounts and notes receivable-trade, net (31,505) (72,324)
Inventories, net (22,427) (40,700)
Prepaid expenses and other current assets (6,068) 26,364
Other noncurrent assets, net 1,096 845
Accounts payable 10,613 (11,143)
Accrued liabilities (6,228) (2,051)
Income taxes payable 35,532 (17,670)
Other noncurrent liabilities 7,532 6,100
Net cash provided by operating activities 220,245 131,868
Cash flows from investing activities:    
Capital expenditures (48,831) (46,151)
Cash paid for acquisitions of businesses, net of cash acquired (2,009) (3,939)
Proceeds from Hedge, Investing Activities 1,674 7,499
Payments for Derivative Instrument, Investing Activities 4,006 94,843
Expenditures for identifiable intangible assets (1,316) (963)
Proceeds from sale of property, plant and equipment, net 277 2,209
Net cash used in investing activities (55,346) (136,188)
Cash flows from financing activities:    
Net change in short-term borrowings (38,087) 40,450
Cash paid for treasury stock (54,586) (62,278)
Cash dividends paid (18,453) (16,928)
Cash paid for acquisition of noncontrolling interests of consolidated subsidiaries (33) (8,960)
Payments on long-term borrowings (75,371) 0
Proceeds from exercise of stock options 12,736 31,213
Excess tax benefits from share based compensation 349 1,122
Proceeds from Derivative Instrument, Financing Activities 0 25
Payments for Derivative Instrument, Financing Activities 0 80
Net cash used in financing activities (173,445) (15,436)
Effect of exchange rate changes on cash and cash equivalents 521 (3,349)
Net (decrease) increase in cash and cash equivalents (8,025) (23,105)
Cash and cash equivalents at beginning of period 74,954  
Cash and cash equivalents at end of period 66,929  
Purchase of short-term investments $ 1,135 $ 0