XML 17 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 488,528 $ 289,812
Provision for losses on accounts receivable 3,618 12,769
Deferred income taxes and tax uncertainties 3,076 (7,339)
Depreciation and amortization 127,731 128,195
Net (gains) losses from sales of assets and non-cash charges (14,131) 12,537
Stock-based compensation 27,833 20,030
Losses from equity method investment 14,540 14,495
Change in operating assets and liabilities:    
Accounts receivable (148,148) (136,844)
Inventories (44,340) 29,936
Prepaid expenses and other assets (25,151) (24,232)
Trade accounts payable 5,425 36,817
Other current liabilities (60,089) (18,989)
Current income taxes payable, net 28,544 6,360
Accrued employment-related benefits cost (13,605) 3,655
Other, net 1,008 4,976
Net cash provided by operating activities 394,839 372,178
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property, buildings and equipment and intangibles (103,083) (131,147)
Proceeds from sales of assets 43,280 69,758
Equity method investment (13,986) (13,300)
Other, net 0 (146)
Net cash used in investing activities (73,789) (74,835)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase (decrease) in commercial paper 18 (269,841)
Borrowings under lines of credit 22,144 30,374
Payments against lines of credit (22,308) (18,036)
Proceeds from issuance of long-term debt 0 415,672
Payments of long-term debt (36,063) (7,799)
Proceeds from stock options exercised 87,134 27,064
Payments for employee taxes withheld from stock awards (29,026) (16,719)
Purchase of treasury stock (200,878) (313,562)
Cash dividends paid (155,132) (151,637)
Other, net 2,740 0
Net cash used in financing activities (331,371) (304,484)
Exchange rate effect on cash and cash equivalents (4,094) 8,060
NET CHANGE IN CASH AND CASH EQUIVALENTS (14,415) 919
Cash and cash equivalents at beginning of year 326,876 274,146
Cash and cash equivalents at end of period $ 312,461 $ 275,065