XML 25 R7.htm IDEA: XBRL DOCUMENT v3.19.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Statement of Cash Flows [Abstract]    
Cash and cash equivalents at beginning of year $ 555,320 $ 1,137,303
Cash flows from operating activities:    
Net income 326,496 449,611
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 102,231 100,804
Gain on sale of business 0 (218,705)
Gain on sale of property (11,079) 0
Stock-based compensation and other 10,136 8,076
Equity in net income of unconsolidated investments (net of tax) (73,491) (39,646)
Dividends received from unconsolidated investments and nonmarketable securities 60,291 30,045
Pension and postretirement expense (benefit) 1,055 (1,793)
Pension and postretirement contributions (7,778) (7,089)
Unrealized gain on investments in marketable securities (577) (625)
Deferred income taxes 3,570 30,708
Working capital changes (223,238) (91,189)
Other, net 11,672 (36,340)
Net cash provided by operating activities 199,288 223,857
Cash flows from investing activities:    
Acquisitions, net of cash acquired 0 (7,643)
Capital expenditures (415,626) (280,945)
Cash proceeds from divestitures, net 0 416,711
Proceeds from sale of property and equipment 10,356 0
Sales of marketable securities, net 908 (439)
Investments in equity and other corporate investments (2,549) (1,979)
Net cash (used in) provided by investing activities (406,911) 125,705
Cash flows from financing activities:    
Other borrowings (repayments), net 183,052 (211,833)
Dividends paid to shareholders (74,313) (72,484)
Dividends paid to noncontrolling interests (38,962) (7,378)
Repurchases of common stock 0 (250,000)
Proceeds from exercise of stock options 3,205 1,288
Withholding taxes paid on stock-based compensation award distributions (10,570) (16,460)
Other (445) 0
Net cash provided by (used in) financing activities 61,967 (556,867)
Net effect of foreign exchange on cash and cash equivalents (11,481) (21,854)
Decrease in cash and cash equivalents (157,137) (229,159)
Cash and cash equivalents at end of period $ 398,183 $ 908,144