XML 46 R7.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash Flows from Operating Activities:    
Net income $ 155,902 $ 150,112
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 100,427 109,821
Amortization 3,237 4,050
Stock based compensation 17,296 16,443
(Recovery of) provision for doubtful accounts (771) 228
Deferred income taxes 943 (12,701)
Defined benefit plan expense 15,434 12,622
Equity in results of affiliates in excess of cash distributions received 735 1,868
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts receivable (46,820) (57,220)
Inventories (26,102) (11,386)
Prepaid and other current assets (11,277) (14,984)
Accounts payable and accrued liabilities 42,285 5,236
Income taxes payable (4,154) (13,334)
Retirement and deferred compensation plans (11,810) (9,803)
Other changes, net (3,962) 20,426
Net Cash Provided by Operations 231,363 201,378
Cash Flows from Investing Activities:    
Capital expenditures (106,228) (125,465)
Proceeds from sale of property and equipment 8 1,002
Insurance proceeds 1,900  
Purchase of short-term investments (67,414)  
Notes receivable, net 611 (2,820)
Net Cash Used by Investing Activities (171,123) (127,283)
Cash Flows from Financing Activities:    
(Repayments of) Proceeds from notes payable (227,911) 106,455
Proceeds from long-term obligations 225,827 2,816
Repayments of long-term obligations (336)  
Dividends paid (52,512) (52,943)
Credit facility costs (1,216) (299)
Proceeds from stock option exercises 40,253 23,146
Purchase of treasury stock   (90,517)
Excess tax benefit from exercise of stock options 5,934 4,959
Net Cash Used by Financing Activities (9,961) (6,383)
Effect of Exchange Rate Changes on Cash (15,982) (30,179)
Net Increase in Cash and Equivalents 34,297 37,533
Cash and Equivalents at Beginning of Period 399,762 309,861
Cash and Equivalents at End of Period $ 434,059 $ 347,394