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Condensed Statements of Consolidated Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
OPERATING ACTIVITIES    
Net income $ 1,007,758 $ 874,869
Adjustments to reconcile net income to net operating cash:    
Loss from discontinued operations 0 41,540
Depreciation 211,514 162,214
Amortization of intangible assets 239,019 118,799
Amortization of inventory purchase accounting adjustments 0 114,025
Stock-based compensation expense 53,132 59,146
Amortization of credit facility and debt issuance costs 9,512 5,969
Provisions for qualified exit costs 13,103 32,416
Provisions for environmental-related matters 34,317 5,812
Defined benefit pension plans net cost (3,079) 15,246
Net change in postretirement liability 996 (7,422)
Deferred income taxes 1,484 0
Other 18,967 93
Change in working capital accounts - net (81,600) (163,513)
Costs incurred for environmental-related matters (13,991) (8,254)
Costs incurred for qualified exit costs (19,595) (26,925)
Other (40,322) 34,817
Net operating cash 1,431,215 1,258,832
INVESTING ACTIVITIES    
Capital expenditures (166,184) (143,406)
Acquisitions of businesses, net of cash acquired and divestiture (see Note 4) 0 (8,810,314)
Proceeds from sale of assets 38,354 39,528
Decrease in other investments 12,552 3,499
Net investing cash (115,278) (8,910,693)
FINANCING ACTIVITIES    
Net increase (decrease) in short-term borrowings 23,389 (113,942)
Proceeds from long-term debt 0 8,269,930
Payments of long-term debt (851,977) (951,253)
Payments for credit facility and debt issuance costs (5,135) (49,022)
Payments of cash dividends (242,539) (239,016)
Proceeds from stock options exercised 74,285 93,791
Treasury stock purchased (368,334) 0
Other 44,825 (20,434)
Net financing cash (1,325,486) 6,990,054
Effect of exchange rate changes on cash (13,153) (20,049)
Net decrease in cash and cash equivalents (22,702) (681,856)
Cash and cash equivalents at beginning of year 204,213 889,793
Cash and cash equivalents at end of period 181,511 207,937
Income taxes paid 236,586 403,495
Interest paid $ 245,734 $ 88,776