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Condensed Statements of Consolidated Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
OPERATING ACTIVITIES    
Net income $ 250,127 $ 239,152
Adjustments to reconcile net income to net operating cash:    
Depreciation 71,591 44,595
Amortization of intangible assets 85,049 6,170
Stock-based compensation expense 14,611 17,321
Amortization of credit facility and debt issuance costs 2,749 984
Provisions for qualified exit costs 3,799 2,856
Provisions for environmental-related matters 765 519
Defined benefit pension plans net cost 1,345 5,155
Net change in postretirement liability 996 1,910
Other 3,466 (37,367)
Change in working capital accounts - net (382,842) (58,402)
Costs incurred for environmental-related matters (4,069) (3,372)
Costs incurred for qualified exit costs (8,084) (996)
Other 1,246 13,291
Net operating cash 40,749 231,816
INVESTING ACTIVITIES    
Capital expenditures (42,253) (41,479)
Proceeds from sale of assets 7,352 34,762
Increase in other investments (5,650) (23,194)
Net investing cash (40,551) (29,911)
FINANCING ACTIVITIES    
Net increase in short-term borrowings 288,866 326
Payments of long-term debt (808) (71)
Payments for credit facility and debt issuance costs (113) (7)
Payments of cash dividends (81,028) (79,450)
Proceeds from stock options exercised 21,595 41,762
Treasury stock purchased (241,148) 0
Other (14,813) (22,702)
Net financing cash (27,449) (60,142)
Effect of exchange rate changes on cash (18,349) (13,748)
Net (decrease) increase in cash and cash equivalents (45,600) 128,015
Cash and cash equivalents at beginning of year 204,213 889,793
Cash and cash equivalents at end of period 158,613 1,017,808
Income taxes paid 27,910 8,675
Interest paid $ 57,757 $ 30,841