XML 19 R7.htm IDEA: XBRL DOCUMENT v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Oct. 03, 2021
Sep. 27, 2020
Cash Flows from Operating Activities:    
Net income/(loss) $ (150,391) $ 218,524
Adjustments to reconcile net (loss)/income to net cash provided by operating activities:    
Asset impairment 3,490 25,364
Depreciation, depletion and amortization 181,408 186,602
Loss from the early extinguishment of debt 20,184 0
Share-based compensation expense 17,392 6,551
Equity in earnings of affiliates (5,701) (3,230)
Cash dividends from affiliated companies 5,182 4,367
Net gain on disposition of assets (2,376) (3,298)
Net loss on divestiture of businesses 2,667 0
Pension and postretirement plan expense 583,340 43,146
Pension and postretirement plan contributions (165,280) (34,795)
Net (decrease)/increase in deferred taxes (164,581) 10,013
Change in assets and liabilities, net of effects from acquisitions and foreign currency adjustments:    
Trade accounts receivable (142,699) (42,102)
Inventories (95,066) 10,621
Payable to suppliers 163,193 15,708
Prepaid expenses (17,756) (1,857)
Accrued expenses 10,354 40,854
Income taxes payable and other income tax items (8,531) (17,466)
Other assets and liabilities (14,751) 30,499
Net cash provided by operating activities 220,078 489,501
Cash Flows from Investing Activities:    
Purchases of property, plant and equipment (156,592) (116,667)
Cost of acquisitions, net of cash acquired (3,155) (49,262)
Proceeds from the sale of businesses, net 91,569 0
Proceeds from the sale of assets 10,536 8,240
Other net investing proceeds 6,776 571
Net cash used in investing activities (50,866) (157,118)
Cash Flows from Financing Activities:    
Proceeds from issuance of debt 138,382 1,107,127
Principal repayment of debt (582,838) (428,966)
Net change in commercial paper 202,000 (250,000)
Net (decrease)/increase in outstanding checks (10,736) 8,544
Proceeds from foreign exchange forward contracts and interest rate swaps 4,387 14,480
Payment of contingent consideration 0 (3,000)
Cash dividends (134,648) (129,446)
Excess cash costs of early extinguishment of debt (20,111) 0
Payments for share repurchases (159,654) (7,335)
Net cash (used)/provided by financing activities (563,218) 311,404
Effects of Exchange Rate Changes on Cash (10,830) (6,391)
Net (Decrease)/Increase in Cash and Cash Equivalents (404,836) 637,396
Cash and cash equivalents at beginning of period 564,848 145,283
Cash and cash equivalents at end of period $ 160,012 $ 782,679