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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities:      
Net income $ 805,796 $ 360,006 $ (145,170)
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 298,999 296,109 294,595
Impairment charges   132,839 428,500
Equity-based compensation 36,197 31,656 30,181
Deferred income taxes (135,899) 53,846 (99,323)
Other adjustments 14,068 20,676 19,886
Changes in certain assets and liabilities:      
Accounts receivable (139,054) (106,617) 311,302
Inventories (242,883) (115,575) 488,003
Other assets 4,188 12,053 (450)
Accounts payable 96,062 106,521 (227,092)
Income taxes receivable/payable (33,889) (13,921) 12,706
Accrued expenses 36,021 75,176 (59,513)
Net cash provided by operating activities 739,606 852,769 1,053,625
Investing activities:      
Purchases of property, plant and equipment (164,935) (198,160) (114,501)
Acquisition of business, net of cash acquired (6,192) (123,351) (45,000)
Other investing activities 32,022 8,618 16,874
Net cash used in investing activities (139,105) (312,893) (142,627)
Financing activities:      
Issuance of current and long-term debt 620,041 473,903 207,930
Repayment of current and long-term debt (609,914) (728,993) (625,924)
Dividends paid (145,565) (135,767) (127,569)
Proceeds from exercise of stock options, including related tax effect   9,564 10,781
Purchases of treasury stock (252,242) (25,034)  
Other financing activities (25,655) (19,098) (10,547)
Net cash used in financing activities (413,335) (425,425) (545,329)
Increase in cash and equivalents 187,166 114,451 365,669
Cash and equivalents at beginning of period 841,483 727,032 361,363
Cash and equivalents at end of period 1,028,649 841,483 727,032
Supplemental disclosure information:      
Cash paid for interest 135,381 150,679 160,190
Cash paid for income taxes, net $ 296,493 $ 159,950 $ (9,898)