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Condensed Statements of Consolidated Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
OPERATING ACTIVITIES    
Net income $ 147,128 $ 131,404
Adjustments to reconcile net income to net operating cash:    
Depreciation 42,895 42,500
Amortization of intangible assets 5,782 6,905
Stock-based compensation expense 15,765 18,079
Amortization of credit facility and debt issuance costs 6,656 1,083
Provisions for qualified exit costs 1,126 761
Provisions for environmental-related matters 18,029 1,050
Defined benefit pension plans net cost 6,992 1,787
Net increase in postretirement liability 961 (111)
Other (147) (3,785)
Change in working capital accounts - net (298,341) (254,221)
Costs incurred for environmental-related matters (5,036) (2,875)
Costs incurred for qualified exit costs (2,868) (1,966)
Other (18,749) 4,321
Net operating cash (79,807) (55,068)
INVESTING ACTIVITIES    
Capital expenditures (51,999) (42,903)
Proceeds from sale of assets 988 6,677
Increase in other investments (10,526) (56)
Net investing cash (61,537) (36,282)
FINANCING ACTIVITIES    
Net increase in short-term borrowings 85,770 731,733
Payments of long-term debt 0 (96)
Payments for credit facility and debt issuance costs (41,850) 0
Payments of cash dividends (77,734) (62,609)
Proceeds from stock options exercised 19,717 37,494
Income tax effect of stock-based compensation exercises and vesting 24,762 52,632
Treasury stock purchased 0 (614,911)
Other (16,597) (33,108)
Net financing cash (5,932) 111,135
Effect of exchange rate changes on cash 12,080 3,496
Net (decrease) increase in cash and cash equivalents (135,196) 23,281
Cash and cash equivalents at beginning of year 205,744 40,732
Cash and cash equivalents at end of period 70,548 64,013
Income taxes paid 23,155 16,044
Interest paid $ 30,552 $ 9,381