XML 21 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Statement of Cash Flows [Abstract]    
Cash and cash equivalents at beginning of year $ 1,137,303 $ 2,269,756
Cash flows from operating activities:    
Net income 138,925 62,657
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 50,330 45,070
Gain on acquisition 0 (7,433)
Stock-based compensation 2,869 5,046
Equity in net income of unconsolidated investments (net of tax) (20,677) (21,171)
Dividends received from unconsolidated investments and nonmarketable securities 25,462 2,551
Pension and postretirement benefit (890) (26)
Pension and postretirement contributions (3,548) (2,891)
Unrealized gain on investments in marketable securities (393) (873)
Loss on early extinguishment of debt 0 52,801
Deferred income taxes 29,067 1,363
Working capital changes (95,050) (63,325)
Other, net (4,541) 8,816
Net cash provided by operating activities 121,554 82,585
Cash flows from investing activities:    
Acquisitions, net of cash acquired 0 (27,742)
Capital expenditures (131,815) (54,143)
Sales of marketable securities, net 10 492
Repayments from joint ventures 0 1,250
Investments in equity and other corporate investments (735) 0
Net cash used in investing activities (132,540) (80,143)
Cash flows from financing activities:    
Repayments of long-term debt 0 (751,209)
Other (repayments) borrowings, net (381,159) 66,384
Fees related to early extinguishment of debt 0 (46,959)
Dividends paid to shareholders (35,382) (34,330)
Dividends paid to noncontrolling interests (7,378) 0
Repurchases of common stock 0 (250,000)
Proceeds from exercise of stock options 646 2,170
Withholding taxes paid on stock-based compensation award distributions (15,009) (7,855)
Net cash used in financing activities (438,282) (1,021,799)
Net effect of foreign exchange on cash and cash equivalents 4,153 4,137
Decrease in cash and cash equivalents (445,115) (1,015,220)
Cash and cash equivalents at end of period $ 692,188 $ 1,254,536