XML 33 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Oct. 29, 2017
Oct. 30, 2016
 [1]
Oct. 25, 2015
OPERATING ACTIVITIES      
Net earnings $ 847,103 $ 890,517 $ 687,264
Adjustments to reconcile to net cash provided by operating activities:      
Depreciation 122,594 123,581 125,292
Amortization of intangibles 8,383 8,387 8,142
Goodwill/intangible impairment 180 991 21,537
Equity in earnings of affiliates, net of dividends (12,069) 7,505 13,438
Provision for deferred income taxes 62,166 44,327 19,979
Loss (gain) on property/equipment sales and plant facilities 322 80 (5,240)
Non-cash investment activities (4,864) (1,287) (847)
Stock-based compensation expense 15,591 17,829 15,717
Excess tax benefit from stock-based compensation (29,513) (47,657) (22,950)
Changes in operating assets and liabilities, net of acquisitions:      
(Increase) decrease in accounts receivable (28,091) 21,389 22,451
Decrease (increase) in inventories 41,312 (12,281) 82,437
(Increase) decrease in prepaid expenses and other current assets (22,459) 13,235 20,519
(Decrease) increase in pension and post-retirement benefits (13,275) (34,510) (28,999)
(Decrease) increase in accounts payable and accrued expenses (2,553) (40,783) (7,429)
Increase (decrease) in net income taxes payable 25,369 1,525 42,116
Other     (1,435)
NET CASH PROVIDED BY OPERATING ACTIVITIES 1,010,196 992,848 991,992
INVESTING ACTIVITIES      
Proceeds from sale of business 135,944 110,149  
Acquisitions of businesses/intangibles (520,463) (280,889) (770,587)
Purchases of property/equipment (221,286) (255,524) (144,063)
Proceeds from sales of property/equipment 4,010 6,227 18,501
Decrease (increase) in investments, equity in affiliates, and other assets 8,792 11,078 (4,798)
NET CASH USED IN INVESTING ACTIVITIES (593,003) (408,959) (900,947)
FINANCING ACTIVITIES      
Proceeds from short-term debt 280,000 245,000 350,000
Principal payments on short-term debt (280,000) (430,000) (165,000)
Dividends paid on common stock (346,010) (296,493) (250,834)
Share repurchase (94,487) (87,885) (24,928)
Proceeds from exercise of stock options 21,726 12,075 10,468
Excess tax benefit from stock-based compensation 29,513 47,657 22,950
Distribution to noncontrolling interest     (1,581)
Payments to noncontrolling interest     (11,702)
NET CASH USED IN FINANCING ACTIVITIES (389,258) (509,646) (70,627)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 1,044 (6,339) (7,353)
INCREASE IN CASH AND CASH EQUIVALENTS 28,979 67,904 13,065
Cash and cash equivalents at beginning of year 415,143 [1] 347,239 334,174
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 444,122 $ 415,143 $ 347,239 [1]
[1] Fiscal 2016 included 53 weeks