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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 26, 2015
Sep. 27, 2014
Cash flows from operating activities:    
Consolidated net income $ 341,078 $ 382,104
Adjustments to reconcile consolidated net income to net cash provided by operations:    
Depreciation and amortization 117,854 115,355
Amortization of stock-based compensation 33,783 31,283
Equity in earnings of affiliated companies (4,890) (4,790)
Deferred income taxes 26,881 11,368
Restructuring, integration, and other charges 38,106 18,102
Gain on Sale of Investment (2,008) (18,269)
Excess tax benefits from stock-based compensation arrangements (5,863) (6,977)
Other 8,057 2,029
Change in assets and liabilities, net of effects of acquired businesses:    
Accounts receivable 1,056,282 556,445
Inventories (44,890) (97,929)
Accounts payable (1,318,702) (632,191)
Accrued expenses (110,834) (150,165)
Other assets and liabilities (23,910) 9,883
Net cash provided by operating activities 110,944 216,248
Cash flows from investing activities:    
Cash consideration paid for acquired businesses (512,910) (129,522)
Acquisition of property, plant, and equipment (113,056) (87,881)
Proceeds from sale of investment 2,008 40,542
Net cash used for investing activities (623,958) (176,861)
Cash flows from financing activities:    
Change in short-term and other borrowings (4,069) (9,243)
Proceeds from (repayment of) long-term bank borrowings, net 238,700 (10,200)
Net proceeds from note offering 688,162 0
Redemption of notes (254,313) 0
Proceeds from exercise of stock options 14,722 21,013
Excess tax benefits from stock-based compensation arrangements 5,863 6,977
Repurchases of common stock (206,601) (189,411)
Other (5,831) 0
Net cash provided by (used for) financing activities 476,633 (180,864)
Effect of exchange rate changes on cash (27,230) 9,108
Net decrease in cash and cash equivalents (63,611) (132,369)
Cash and cash equivalents at beginning of period 400,355 390,602
Cash and cash equivalents at end of period $ 336,744 $ 258,233