XML 46 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 293,780 $ 257,411 $ 217,186
Non-controlling interests in subsidiaries' (loss) earnings (2,093) (195) (173)
Net income including non-controlling interests 291,687 257,216 217,013
Adjustments to reconcile Net income including non-controlling interests to Net cash provided by operating activities:      
Rationalization and asset impairment charges 5,092 1,740 23
Depreciation and amortization 68,883 65,334 62,051
Equity (earnings) loss in affiliates, net (1,660) 160 (1,971)
Deferred income taxes 17,817 (2,137) 15,139
Stock-based compensation 9,734 8,961 6,610
Pension expense 29,774 35,515 26,370
PensionContributionsAndDirectPayments (87,356) (69,646) (36,322)
Other, net 1,910 2,688 991
Changes in operating assets and liabilities, net of effects from acquisitions:      
(Increase) decrease in accounts receivable (5,437) 57,759 (67,518)
Decrease (increase) in inventories 13,310 28,286 (51,679)
Decrease (increase) in other current assets 2,811 (9,506) (2,857)
Increase in accounts payable 794 16,110 8,672
(Decrease) increase in other current liabilities (7,785) 21,887 20,838
Net change in other long-term assets and liabilities (680) (86,883) (3,842)
NET CASH PROVIDED BY OPERATING ACTIVITIES 338,894 327,484 193,518
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (76,015) (52,715) (65,813)
Acquisition of businesses, net of cash acquired (53,161) (134,602) (66,229)
Proceeds from Sale of Property, Plant, and Equipment 1,393 1,387 1,246
Other investing activities (1,717) (1,541) 0
NET CASH USED BY INVESTING ACTIVITIES (129,500) (187,471) (130,796)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from short-term borrowings 1,230 2,518 23,224
Payments on short-term borrowings (2,164) (4,293) (15,446)
Amounts due banks, net (517) (2,758) 1,203
Proceeds from long-term borrowings 61 918 909
Payments on long-term borrowings (450) (85,688) (1,941)
Proceeds from exercise of stock options 20,297 18,776 11,351
Excess tax benefit from stock-based compensation 10,602 7,819 2,916
Purchase of shares for treasury (167,879) (81,018) (36,997)
Cash dividends paid to shareholders (49,277) (73,112) (51,935)
Transactions with Noncontrolling Interests (6,087) 0 0
Other financing activities 0 0 3,346
NET CASH USED BY FINANCING ACTIVITIES (194,184) (216,838) (63,370)
Effect of exchange rate changes on cash and cash equivalents (1,849) 2,188 (4,444)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 13,361 (74,637) (5,092)
Cash and cash equivalents at beginning of year 286,464 361,101 366,193
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 299,825 $ 286,464 $ 361,101