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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net income $ 621,085 $ 810,474 $ 616,757
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 270,288 241,635 167,691
Excess tax benefits from share-based compensation (4,920) (4,232) (3,134)
Deferred income taxes (70,932) 3,891 65,990
Share-based compensation 32,050 20,716 16,892
Realized currency and other divestiture losses 41,499 0 0
Gain on equity investment (38,663) 0 0
Goodwill impairment charge 81,968 0 0
Other operating activities (13,801) 1,579 (18,040)
Changes in operating assets and liabilities:      
Trade accounts receivable, net (116,145) (72,041) (19,273)
Merchandise inventories, net (66,202) (73,173) (9,923)
Trade accounts payable 70,679 364,639 61,474
Other short-term assets and liabilities 10,212 (97,864) (1,544)
Other long-term assets and liabilities 74,892 (50,460) (61,847)
Net cash provided by operating activities 892,010 1,145,164 815,043
Investing activities      
Purchases of property, plant and equipment (297,869) (232,422) (156,760)
Proceeds from sale of property, plant and equipment 24,772 14,665 21,275
Proceeds from divestitures of businesses 434,609 0 0
Acquisitions of businesses and other investing activities (724,718) (278,367) (1,494,795)
Net cash used in investing activities (563,206) (496,124) (1,630,280)
Financing activities      
Proceeds from debt 5,037,168 5,064,291 6,630,294
Payments on debt (4,897,769) (5,124,265) (4,350,222)
Payments on acquired debt of AAG 0 0 (833,775)
Stock options exercised (11,413) (10,227) (5,239)
Dividends paid (438,890) (415,983) (395,475)
Purchase of stock (74,187) (91,983) (173,524)
Other financing activities (871) (30,663) 0
Net cash (used in) provided by financing activities (385,962) (608,830) 872,059
Effect of exchange rate changes on cash 603 (21,562) 15,198
Net (decrease) increase in cash and cash equivalents (56,555) 18,648 72,020
Cash and cash equivalents at beginning of year 333,547 314,899 242,879
Cash and cash equivalents at end of year 276,992 333,547 314,899
Supplemental disclosures of cash flow information      
Income taxes 303,736 236,536 298,827
Interest $ 95,281 $ 102,131 $ 38,401