XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Oct. 01, 2016
Oct. 03, 2015
Operating activities:    
Net income $ 382,270 $ 309,692
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization of long-lived assets 73,715 75,750
Write-off on early extinguishment of debt 12,667 0
Charges incurred for amendments of credit facilities 34,624 0
Amortization of debt issuance costs 6,401 5,222
Stock compensation expense 16,292 9,831
Deferred taxes and other (18,938) (4,316)
Changes in assets and liabilities, net of acquisition of businesses:    
Accounts receivable (200,961) (185,159)
Inventories 4,557 (280,970)
Other assets (6,167) 32,661
Accounts payable (80,589) 35,716
Accrued pension and postretirement benefits (34,419) (97,330)
Accrued liabilities and other 18,839 11,749
Net cash from operating activities 208,291 (87,154)
Investing activities:    
Purchases of property, plant and equipment (65,439) (73,771)
Proceeds from sales of assets 68,701 15,250
Acquisition of businesses, net of cash acquired (963,127) (192,829)
Net cash from investing activities (959,865) (251,350)
Financing activities:    
Borrowings on notes payable 854,915 817,141
Repayments on notes payable (943,893) (833,822)
Borrowings on Accounts Receivable Securitization Facility 194,549 209,041
Repayments on Accounts Receivable Securitization Facility (145,638) (161,740)
Borrowings on Revolving Loan Facilities 2,995,442 4,056,000
Repayments on Revolving Loan Facilities (2,992,000) (4,079,500)
Borrowings on Senior Notes 2,359,347 0
Repayments on Senior Notes (1,000,000) 0
Borrowings on Term Loan Facilities 301,272 850,000
Repayments on Term Loan Facilities (154,670) (15,772)
Borrowings on International Debt 8,368 10,853
Repayments on International Debt (11,186) (14,354)
Cash dividends paid (125,798) (121,713)
Payments to amend and refinance credit facilities (79,492) 0
Share repurchases (379,901) (306,094)
Taxes paid related to net shares settlement of equity awards (2,919) (53,108)
Excess tax benefit from stock-based compensation 0 38,298
Other 1,529 (8,826)
Net cash from financing activities 879,925 386,404
Effect of changes in foreign exchange rates on cash 2,693 (3,160)
Change in cash and cash equivalents 131,044 44,740
Cash and cash equivalents at beginning of year 319,169 239,855
Cash and cash equivalents at end of period $ 450,213 $ 284,595