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CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES      
NET EARNINGS $ 292,958 $ 264,469 $ 327,449
Adjustments to reconcile net earnings to cash provided (utilized) by operating activities:      
Depreciation of fixed assets 197,585 206,113 211,095
Amortization of intangibles 19,071 19,156 14,818
(Earnings) loss from equity method investments, net of distributions 980 2,849 12,180
Gain on sale of joint venture interest (124,942) 0 0
Gain on sale of property, plant and equipment (22,132) (22,746) (21,604)
Amortization of stock-based awards 43,029 40,669 40,086
Deferred compensation trust 18,010 (49,539) (22,332)
Deferred compensation obligation (22,272) 52,615 29,323
Statute expirations and tax settlements 0 0 (13,280)
Deferred taxes 70,594 100,286 (7,912)
Net retirement plan accrual (contributions) (16,472) (8,846) (1,756)
Changes in operating assets and liabilities (297,722) (11,899) 135,393
Other items 3,477 8,844 2,459
Cash provided by operating activities 162,164 601,971 705,919
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of marketable securities (483,513) (237,360) (359,986)
Proceeds from the sales and maturities of marketable securities 541,104 216,436 522,094
Capital expenditures (210,998) (283,107) (235,904)
Proceeds from disposal of property, plant and equipment 81,038 96,102 81,162
Proceeds from sale of joint venture interest 124,942 0 0
Investments in partnerships and joint ventures (73,145) (273,117) (518,220)
Return of capital from partnerships and joint ventures 22,284 3,249 3,783
Acquisitions, net of cash acquired 0 0 (240,740)
Other items (329) (6,481) 6,460
Cash provided (utilized) by investing activities 1,383 (484,278) (741,351)
CASH FLOWS FROM FINANCING ACTIVITIES      
Repurchase of common stock (50,022) 0 (9,718)
Dividends paid (118,734) (117,995) (117,995)
Proceeds from issuance of Senior Notes 598,722 0 552,958
Repayment of 3.375% Senior Notes and Stork Notes (503,285) 0 (333,654)
Borrowings under revolving lines of credit 0 0 882,142
Repayment of borrowings under revolving lines of credit 0 (53,455) (917,027)
Debt issuance costs (5,061) 0 (3,513)
Distributions paid to noncontrolling interests (63,523) (47,215) (57,904)
Capital contributions by noncontrolling interests 5,128 6,397 9,072
Taxes paid on vested restricted stock (5,686) (6,186) (7,007)
Stock options exercised 7,258 9,380 3,658
Other items (5,288) (6,428) (11,362)
Cash utilized by financing activities (140,491) (215,502) (10,350)
Effect of exchange rate changes on cash (62,385) 51,448 (53,668)
Decrease in cash and cash equivalents (39,329) (46,361) (99,450)
Cash and cash equivalents at beginning of year 1,804,075 1,850,436 1,949,886
Cash and cash equivalents at end of year $ 1,764,746 $ 1,804,075 $ 1,850,436