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Condensed Statements of Consolidated Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
OPERATING ACTIVITIES  
Net income$ 427,308$ 389,567
Adjustments to reconcile net income to net operating cash:  
Depreciation112,807100,673
Amortization of intangible assets23,26321,774
Stock-based compensation expense31,77528,498
Provisions for qualified exit costs1,338(57)
Provisions for environmental-related matters7,3446,696
Defined benefit pension plans net cost11,84813,408
Net increase in postretirement liability2,0471,638
Other1,74210,626
Change in working capital accounts - net(142,813)(66,376)
Costs incurred for environmental-related matters(17,920)(24,981)
Costs incurred for qualified exit costs(5,090)(9,887)
Other(7,686)6,031
Net operating cash445,963477,610
INVESTING ACTIVITIES  
Capital expenditures(96,883)(76,116)
Acquisitions of businesses, net of cash acquired(29,847)(264,340)
Proceeds from sale of assets12,1984,834
Increase in other investments(66,408)(71,426)
Net investing cash(180,940)(407,048)
FINANCING ACTIVITIES  
Net increase in short-term borrowings128,326324,661
Proceeds from long-term debt28,9082,386
Payments of long-term debt(33,665)(93,166)
Costs associated with repurchase of long-term debt0(22,192)
Payments of cash dividends(115,651)(117,686)
Proceeds from stock options exercised41,50372,382
Income tax effect of stock-based compensation exercises and vesting9,53815,046
Treasury stock purchased(328,742)(253,558)
Other288(4,815)
Net financing cash(269,495)(76,942)
Effect of exchange rate changes on cash(8,087)1,999
Net decrease in cash and cash equivalents(12,559)(4,381)
Cash and cash equivalents at beginning of year58,58569,329
Cash and cash equivalents at end of period46,02664,948
Income taxes paid102,81596,063
Interest paid$ 31,680$ 54,743