XML 23 R7.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net earnings $ 632,838 $ 785,174 $ 812,296
Provision for losses on accounts receivable 16,216 10,181 12,945
Deferred income taxes and tax uncertainties (5,884) 4,076 (13,732)
Depreciation and amortization 248,857 227,967 208,326
Impairment of goodwill and other intangible assets 52,318 0 16,652
(Gains) losses from non-cash charges and sales of assets (18,521) 2,765 41,037
Stock-based compensation 35,735 46,861 49,032
Losses from equity method investment 31,193 11,740 0
Change in assets and liabilities – net of acquisitions and divestitures:      
Accounts receivable (45,600) (3,085) (122,580)
Inventories (4,403) (37,737) (92,443)
Prepaid expenses and other assets 18,641 15,788 (24,550)
Trade accounts payable 72,882 23,130 32,019
Other current liabilities (25,044) (70,306) 8,693
Income taxes payable (3,513) 6,943 (1,487)
Accrued employment-related benefits cost 7,542 (27,721) 35,027
Other – net (10,281) (5,872) (1,421)
Net cash provided by operating activities 1,002,976 989,904 959,814
CASH FLOWS FROM INVESTING ACTIVITIES:      
Additions to property, buildings and equipment and intangibles (284,249) (373,868) (387,390)
Proceeds from sales of assets 55,023 14,857 26,755
Equity method investment (34,103) (20,382) 0
Cash paid for business acquisitions (159) (464,431) (30,713)
Other – net 1,224 466 7,290
Net cash used in investing activities (262,264) (843,358) (384,058)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net increase in commercial paper 39,748 325,000 5,000
Borrowings under lines of credit 36,055 54,770 108,721
Payments against lines of credit (37,358) (78,559) (117,277)
Proceeds from issuance of long-term debt 515,985 1,307,183 150,504
Payments of long-term debt (262,248) (52,838) (170,907)
Proceeds from stock options exercised 34,125 60,885 48,579
Excess tax benefits from stock-based compensation 11,905 27,553 33,772
Purchase of treasury stock (789,773) (1,400,071) (525,120)
Cash dividends paid (302,971) (306,474) (291,395)
Net cash used in financing activities (754,532) (62,551) (758,123)
Exchange rate effect on cash and cash equivalents (2,170) (20,503) (21,633)
NET CHANGE IN CASH AND CASH EQUIVALENTS: (15,990) 63,492 (204,000)
Cash and cash equivalents at beginning of year 290,136 226,644 430,644
Cash and cash equivalents at end of year 274,146 290,136 226,644
Supplemental cash flow information:      
Cash payments for interest (net of amounts capitalized) 63,143 31,591 10,172
Cash payments for income taxes $ 359,506 $ 442,486 $ 509,378