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CONSOLIDATED STATEMENT OF CASH FLOWS(USD ($))
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net income $ 186,016 $ 242,472
Adjustments to reconcile to net cash provided by operating activities:    
Depreciation and amortization 56,332 56,245
Deferred income taxes (13,830) 25,672
Gain on disposal of assets (2,243) (2,365)
Stock-based compensation 15,363 16,667
Pension settlement/curtailment 874 3,583
Spanish tax charge 72,362  
Payments pursuant to Spanish tax settlement (105,503)  
Changes in assets and liabilities:    
Trade receivables (66,364) (71,928)
Inventories (3,751) (6,949)
Accounts payable (33,652) (18,987)
Accruals for incentive compensation 14,927 (48,519)
Other current payables and accrued expenses 29,095 (57,524)
Other assets (20,087) (35,352)
Other liabilities 13,366 13,711
Net cash provided by operating activities 142,905 116,726
Cash flows from investing activities:    
Additions to property, plant and equipment (84,176) (74,743)
Purchase of insurance contracts (1,127) (1,733)
Maturity of net investment hedges 1,960 (2,220)
Proceeds from disposal of assets 223 469
Net cash used in investing activities (83,120) (78,227)
Cash flows from financing activities:    
Cash dividends paid to shareholders (75,458) (65,174)
Net change in revolving credit facility borrowings and overdrafts 8,376 83,292
Repayments of long-term debt   (100,000)
Proceeds from issuance of stock under stock-based compensation plans 7,664 14,319
Excess tax benefits on stock-based payments 6,920 5,223
Net cash used in financing activities (52,498) (62,340)
Effect of exchange rate changes on cash and cash equivalents 1,615 (208)
Net change in cash and cash equivalents 8,902 (24,049)
Cash and cash equivalents at beginning of year 88,279 131,332
Cash and cash equivalents at end of period 97,181 107,283
Interest paid 46,689 53,475
Income taxes paid $ 163,767 [1] $ 60,171
[1] The 2012 amount includes $105.5 million pursuant to the Spanish tax settlement (see Note 6).