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Condensed Statements of Consolidated Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
OPERATING ACTIVITIES    
Net income $ 855,832 $ 733,144
Adjustments to reconcile net income to net operating cash:    
Depreciation 126,972 125,761
Amortization of intangible assets 19,969 22,611
Stock-based compensation expense 47,838 43,813
Provisions for qualified exit costs 7,488 10,229
Provisions for environmental-related matters 18,688 11,034
Defined benefit pension plans net cost 5,365 5,440
Net increase in postretirement liability (111) 4,455
Other 3,895 1,214
Change in working capital accounts - net (107,833) (58,866)
Costs incurred for environmental-related matters (8,151) (7,018)
Costs incurred for qualified exit costs (5,822) (8,726)
Other (61,626) (1,781)
Net operating cash 902,504 881,310
INVESTING ACTIVITIES    
Capital expenditures (157,990) (135,903)
Proceeds from sale of assets 11,159 1,037
Increase in other investments (14,946) (30,677)
Net investing cash (161,777) (165,543)
FINANCING ACTIVITIES    
Net decrease in short-term borrowings (634,315) (35,947)
Proceeds from long-term debt 797,460 0
Payments of long-term debt 0 (290)
Payments of cash dividends (187,242) (162,178)
Proceeds from stock options exercised 74,020 73,192
Income tax effect of stock-based compensation exercises and vesting 86,801 56,197
Treasury stock purchased (766,087) (1,094,070)
Other (42,027) (23,397)
Net financing cash (671,390) (1,186,493)
Effect of exchange rate changes on cash (19,040) (12,817)
Net increase (decrease) in cash and cash equivalents 50,297 (483,543)
Cash and cash equivalents at beginning of year 40,732 744,889
Cash and cash equivalents at end of period 91,029 261,346
Income taxes paid 235,838 173,430
Interest paid $ 33,992 $ 44,055