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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities:      
Net income $ 1,255,805 $ 805,796 $ 360,006
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 317,198 298,999 296,109
Asset impairment charges     132,839
Equity-based compensation 43,317 36,197 31,656
Deferred income taxes 61,827 (135,899) 53,846
Other adjustments (1,245) 14,068 20,676
Changes in certain assets and liabilities:      
Accounts receivable (145,873) (139,054) (106,617)
Inventories (246,213) (242,883) (115,575)
Other assets (3,475) 4,002 12,044
Accounts payable 37,904 96,062 106,521
Income taxes receivable/payable 26,471 (33,889) (13,921)
Accrued expenses 69,753 36,021 75,176
Net cash provided by operating activities 1,415,469 739,420 852,760
Investing activities:      
Purchases of property, plant and equipment (239,390) (164,935) (198,160)
Purchases of short term investments (268,783)    
Proceeds from maturities of short term investments 40,000    
Acquisition of business, net of cash acquired (433,998) (6,192) (123,351)
Other investing activities 6,907 32,022 8,618
Net cash used in investing activities (895,264) (139,105) (312,893)
Financing activities:      
Issuance of current and long-term debt 445,607 620,041 473,903
Repayment of current and long-term debt (455,491) (609,914) (728,993)
Dividends paid (168,913) (145,565) (135,767)
Purchases of treasury stock (523,569) (252,242) (25,034)
Other financing activities (18,501) (25,655) (9,534)
Net cash used in financing activities (720,867) (413,335) (425,425)
Increase (decrease) in cash and equivalents, and restricted cash (200,662) 186,980 114,442
Cash and equivalents, and restricted cash at beginning of period 1,035,085 848,105 733,663
Cash and equivalents, and restricted cash at end of period 834,423 1,035,085 848,105
Supplemental disclosure information:      
Cash paid for interest 124,034 135,381 150,679
Cash paid for income taxes, net $ 288,429 $ 296,493 $ 159,950