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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Apr. 01, 2017
Apr. 02, 2016
Operating activities:    
Net earnings $ 377,648 $ 122,497
Adjustments:    
Depreciation 158,525 152,249
Amortization 22,368 18,112
Stock-based compensation 9,524 7,300
Deferred income taxes (6,695) 15,530
Distributions from affiliates 30,249 36,015
Equity in earnings of unconsolidated affiliates (8,756) (9,245)
Changes in assets and liabilities (exclusive of acquisitions and dispositions):    
Accounts receivable (290,261) (104,252)
Inventories (519,902) 114,479
Accounts payable 413,256 197,350
Federal income taxes 157,346 23,273
Salaries, wages and related accruals (102,744) (49,453)
Other operating activities 3,584 27,004
Cash provided by operating activities 244,142 550,859
Investing activities:    
Capital expenditures (94,535) (80,697)
Investment in and advances to affiliates (14,000) (6,098)
Disposition of plant and equipment 8,870 5,309
Acquisitions (net of cash acquired) (485,060) (1,386)
Purchases of investments (50,000) (50,000)
Proceeds from the sale of investments 150,000 100,000
Other investing activities   792
Cash used in investing activities (484,725) (32,080)
Financing activities:    
Net change in short-term debt 30,180 (14,671)
Issuance of common stock 7,432  
Payment of tax withholdings on certain stock-based compensation (1,349)  
Excess tax benefits from stock-based compensation   353
Distributions to noncontrolling interests (61,544) (49,853)
Cash dividends (121,303) (120,153)
Acquisition of treasury stock   (5,173)
Other financing activities (518) (559)
Cash used in financing activities (147,102) (190,056)
Effect of exchange rate changes on cash (517) 10,296
(Decrease) increase in cash and cash equivalents (388,202) 339,019
Cash and cash equivalents - beginning of year 2,045,961 1,939,469
Cash and cash equivalents - end of three months 1,657,759 2,278,488
Non-cash investing activity:    
Change in accrued plant and equipment purchases $ (11,222) $ (4,949)