XML 17 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income $ 244,556 $ 360,468
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 132,964 118,981
Provision for doubtful accounts 403 228
Amortization of debt issuance costs 417 1,002
Stock-based compensation expense 5,084 4,905
Loss from disposition of property, plant and equipment 3,331 890
Gains from sales of securities (1,319) (3,795)
Gain on acquisition, net of loss on the fair value remeasurement of preexisting equity interest 0 (21,045)
Impairment of equity method investment 0 4,925
Deferred income taxes 102,990 3,088
Windfall tax benefits from share-based payment arrangements (319) (1,895)
Loss (income) from equity method investments, net of dividends 279 (1,760)
Other losses, net 1,210 423
Changes in operating assets and liabilities    
Accounts receivable (72,996) (22,380)
Inventories (12,719) 50,115
Prepaid expenses and other current assets (12,586) (10,844)
Accounts payable 54,394 (2,327)
Accrued liabilities (1,617) (40,526)
Other, net (74,180) (5,098)
Net cash provided by operating activities 369,892 435,355
Cash flows from investing activities    
Acquisition of business, net of cash acquired 0 15,782
Additions to property, plant and equipment (287,160) (203,933)
Proceeds from disposition of assets 105 0
Proceeds from sales and maturities of securities 302,432 15,037
Purchase of securities (138,422)  
Settlements of derivative instruments (3,372) (1,174)
Net cash used for investing activities (126,417) (174,288)
Cash flows from financing activities    
Debt issuance costs (9,700) 0
Dividends paid (47,317) (43,896)
Distributions to noncontrolling interests (8,084) (7,218)
Proceeds from exercise of stock options 481 831
Proceeds from issuance of notes payable 3,842 2,392
Repayment of notes payable (8,626) (4,299)
Repurchase of common stock for treasury (67,404) (62,804)
Windfall tax benefits from share-based payment arrangements 319 1,895
Net cash provided by financing activities (136,489) (113,099)
Effect of exchange rate changes on cash and cash equivalents 1,486 (2,000)
Net increase in cash and cash equivalents 108,472 145,968
Cash and cash equivalents at beginning of period 662,525 880,601
Cash and cash equivalents at end of period $ 770,997 $ 1,026,569