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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 460,628 $ 564,498
Provision for losses on accounts receivable 15,187 14,753
Deferred income taxes and tax uncertainties (15,261) 24,259
Depreciation and amortization 194,338 177,395
Net losses (gains) from sales of assets and divestitures 11,296 (16,928)
Stock-based compensation 27,152 27,545
Losses from equity method investment 25,130 22,147
Change in operating assets and liabilities – net of business acquisitions and divestitures:    
Accounts receivable (145,631) (123,922)
Inventories 34,851 41,938
Prepaid expenses and other assets (4,206) 3,478
Trade accounts payable 56,717 36,594
Other current liabilities 29,643 (68,370)
Current income taxes payable 18,015 (9,714)
Accrued employment-related benefits cost 4,306 5,591
Other – net 8,713 (10,340)
Net cash provided by operating activities 720,878 688,924
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property, buildings and equipment (191,183) (213,622)
Proceeds from sales of assets and divestitures 110,421 48,089
Equity method investment (22,430) (19,299)
Other – net 3,554 (564)
Net cash used in investing activities (99,638) (185,396)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (decrease) increase in commercial paper (369,748) 39,887
Borrowings under lines of credit 33,931 26,681
Payments against lines of credit (39,705) (32,515)
Proceeds from issuance of long-term debt 424,020 516,058
Payments of long-term debt (15,812) (257,109)
Proceeds from stock options exercised 27,255 29,553
Payments for employee taxes withheld from stock awards (17,546) (18,541)
Excess tax benefits from stock-based compensation 0 11,873
Purchase of treasury stock (435,983) (613,198)
Cash dividends paid (225,504) (221,131)
Net cash used in financing activities (619,092) (518,442)
Exchange rate effect on cash and cash equivalents 8,281 10,759
NET CHANGE IN CASH AND CASH EQUIVALENTS 10,429 (4,155)
Cash and cash equivalents at beginning of year 274,146 290,136
Cash and cash equivalents at end of period $ 284,575 $ 285,981