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Condensed Statements of Consolidated Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
OPERATING ACTIVITIES    
Net income $ 1,292,678 $ 1,007,758
Adjustments to reconcile net income to net operating cash:    
Depreciation 194,957 211,514
Amortization of intangible assets 234,400 239,019
Stock-based compensation expense 70,895 53,132
Loss on extinguishment of debt 14,754
Amortization of credit facility and debt issuance costs 7,311 9,512
Provisions for qualified exit costs 6,057 13,103
Provisions for environmental-related matters 17,874 34,317
Defined benefit pension plans net cost 40,364 (3,079)
Net change in postretirement liability 672 996
Deferred income taxes (43,399) 1,484
Other (23,500) 18,967
Change in working capital accounts - net (247,136) (81,600)
Costs incurred for environmental-related matters (20,023) (13,991)
Costs incurred for qualified exit costs (7,431) (19,595)
Other 122,934 (40,322)
Net operating cash 1,661,407 1,431,215
INVESTING ACTIVITIES    
Capital expenditures (224,825) (166,184)
Acquisitions of businesses, net of cash acquired (72,636)
Proceeds from sale of assets 6,916 38,354
Decrease in other investments 2,024 12,552
Net investing cash (288,521) (115,278)
FINANCING ACTIVITIES    
Net increase in short-term borrowings 109,022 23,389
Proceeds from long-term debt 1,332,810
Payments of long-term debt (1,875,688) (851,977)
Payments for credit facility and debt issuance costs (12,969) (5,135)
Payments of cash dividends (314,859) (242,539)
Proceeds from stock options exercised 111,155 74,285
Treasury stock purchased (577,777) (368,334)
Proceeds from real estate financing transactions 7,948 88,581
Other (121,315) (43,756)
Net financing cash (1,341,673) (1,325,486)
Effect of exchange rate changes on cash 2,927 (13,153)
Net increase (decrease) in cash and cash equivalents 34,140 (22,702)
Cash and cash equivalents at beginning of year 155,505 204,213
Cash and cash equivalents at end of period 189,645 181,511
Income taxes paid 310,106 236,586
Interest paid $ 246,849 $ 245,734