v3.19.3.a.u2
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
|
|
|
Operating activities: |
|
|
|
Net income |
$ 861,297
|
$ 777,933
|
$ 681,470
|
Adjustments to reconcile net income to total operating activities: |
|
|
|
Depreciation and amortization |
234,042
|
199,490
|
183,227
|
Deferred income taxes |
19,380
|
(73,682)
|
(91,205)
|
Share-based compensation expense |
40,394
|
27,315
|
25,091
|
(Gain) loss on sale of facilities |
(5,332)
|
127
|
(1,213)
|
Changes in assets and liabilities, net of acquisitions: |
|
|
|
Decrease (increase) in receivables |
14,398
|
(13,383)
|
(24,581)
|
Decrease (increase) in inventories and other current assets |
16,410
|
(59,472)
|
(6,087)
|
(Decrease) increase in payables, accruals and income taxes |
(58,932)
|
36,547
|
124,399
|
(Decrease) increase in other long-term liabilities |
(16,845)
|
42,814
|
2,787
|
Pension contributions |
(5,609)
|
(5,063)
|
(54,796)
|
Other, net |
15,219
|
(7,108)
|
(5,833)
|
Total operating activities |
1,114,422
|
925,518
|
833,259
|
Investing activities: |
|
|
|
Additions to property, plant and equipment |
(102,346)
|
(82,076)
|
(75,074)
|
Purchases of businesses, net of cash acquired |
(1,061,945)
|
(1,129,305)
|
(556,634)
|
Proceeds from sale of facilities |
11,306
|
2,570
|
6,290
|
Other, net |
2,060
|
(1,233)
|
(399)
|
Total investing activities |
(1,150,925)
|
(1,210,044)
|
(625,817)
|
Financing activities: |
|
|
|
Net change in short-term borrowings |
130,705
|
258,349
|
(9,616)
|
Proceeds from long-term borrowings |
100,000
|
560,050
|
|
Repayments of long-term borrowings |
(100,000)
|
(305,000)
|
(270,000)
|
Repurchases of common stock |
(11,924)
|
(367,678)
|
(6,867)
|
Cash dividends paid |
(127,496)
|
(128,911)
|
(82,735)
|
Acquisition contingent consideration |
(3,000)
|
(25,500)
|
|
Proceeds from stock option exercises |
90,388
|
30,021
|
40,047
|
Other, net |
(5,760)
|
(8,291)
|
|
Total financing activities |
72,913
|
13,040
|
(329,171)
|
Effect of exchange rate changes on cash and cash equivalents |
2,645
|
(20,839)
|
50,770
|
Increase (decrease) in cash and cash equivalents |
39,055
|
(292,325)
|
(70,959)
|
Cash and cash equivalents: |
|
|
|
Beginning of year |
353,975
|
646,300
|
717,259
|
End of year |
$ 393,030
|
$ 353,975
|
$ 646,300
|
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