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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Statement of Cash Flows [Abstract]      
Cash and cash equivalents at beginning of year $ 555,320 $ 1,137,303 $ 2,269,756
Cash flows from operating activities:      
Net income 604,357 739,139 99,468
Adjustments to reconcile net income to cash flows from operating activities:      
Depreciation and amortization 213,484 200,698 196,928
Gain on acquisition 0 0 (6,221)
Gain on sale of business 0 (210,428) 0
Gain on sale of property (14,411) 0 0
Stock-based compensation and other 19,680 15,228 19,404
Equity in net income of unconsolidated investments (net of tax) (129,568) (89,264) (84,487)
Dividends received from unconsolidated investments and nonmarketable securities 71,746 57,415 39,386
Pension and postretirement expense (benefit) 31,515 10,410 (12,436)
Pension and postretirement contributions (16,478) (15,236) (13,341)
Unrealized gain on investments in marketable securities (2,809) (527) (3,135)
Loss on early extinguishment of debt 4,829 0 52,801
Deferred income taxes 14,394 49,164 (41,941)
Changes in current assets and liabilities, net of effects of acquisitions and divestitures:      
(Increase) in accounts receivable (18,220) (97,448) (74,545)
(Increase) in inventories (46,304) (124,067) (101,545)
(Increase) in other current assets (32,941) (2,181) (213)
(Decrease) increase in accounts payable (12,234) 73,730 53,421
(Decrease) in accrued expenses and income taxes payable (4,640) (1,999) (269,381)
Other, net 36,974 (58,469) 449,816
Net cash provided by operating activities 719,374 546,165 303,979
Cash flows from investing activities:      
Acquisitions, net of cash acquired (820,000) (11,403) (44,367)
Capital expenditures (851,796) (699,991) (317,703)
Cash proceeds from divestitures, net 0 413,569 6,857
Proceeds from sale of property and equipment 10,356 0 0
Sales of (investments in) marketable securities, net 384 (270) (275)
Repayments from joint ventures 0 0 1,250
Investments in equity and other corporate investments (2,569) (5,600) (3,565)
Net cash used in investing activities (1,663,625) (303,695) (357,803)
Cash flows from financing activities:      
Proceeds from borrowings of other long-term debt 1,597,807 0 27,000
Repayments of long-term debt (175,215) 0 (778,209)
Other (repayments) borrowings, net (126,364) (113,567) 138,751
Fees related to early extinguishment of debt (4,419) 0 (46,959)
Dividends paid to shareholders (152,204) (144,596) (140,557)
Dividends paid to noncontrolling interests (83,187) (14,756) (36,756)
Repurchases of common stock 0 (500,000) (250,000)
Proceeds from exercise of stock options 4,814 3,633 8,238
Withholding taxes paid on stock-based compensation award distributions (11,031) (17,240) (8,376)
Debt financing costs 7,514 0 0
Net cash provided by (used in) financing activities 1,042,687 (786,526) (1,086,868)
Net effect of foreign exchange on cash and cash equivalents (40,646) (37,927) 8,239
Increase (decrease) in cash and cash equivalents 57,790 (581,983) (1,132,453)
Cash and cash equivalents at end of year $ 613,110 $ 555,320 $ 1,137,303