XML 25 R7.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income $ 446,833 $ 419,771
Adjustments to reconcile net income to total operating activities:    
Depreciation and amortization 127,404 114,673
Deferred income taxes (2,976) 7,347
Share-based compensation expense 19,053 15,446
Gain on sale of business (141,020) 0
Gain on sale of facilities (4,592) (735)
Net change in assets and liabilities, net of acquisitions 145,473 (110,690)
Pension contributions (3,209) (1,534)
Other, net (1,598) (1,700)
Total operating activities 585,368 442,578
Investing activities:    
Additions to property, plant and equipment (27,017) (43,278)
Purchases of businesses, net of cash acquired (116,509) 0
Proceeds from sale of business 245,311 0
Proceeds from sale of facilities 5,463 765
Other, net (2,457) 2,902
Total investing activities 104,791 (39,611)
Financing activities:    
Net change in short-term borrowings (374,771) (260,802)
Proceeds from long-term borrowings 500,000 100,000
Repurchases of common stock (4,496) (6,322)
Cash dividends paid (82,399) (63,615)
Proceeds from stock option exercises 20,676 45,830
Other, net (2,614) (6,613)
Total financing activities 56,396 (191,522)
Effect of exchange rate changes on cash and cash equivalents (8,610) 2,492
Increase in cash and cash equivalents 737,945 213,937
Cash and cash equivalents:    
Beginning of period 393,030 353,975
End of period $ 1,130,975 $ 567,912