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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 29, 2018
Sep. 30, 2017
Operating activities:    
Net earnings $ 1,800,014 $ 985,477
Adjustments:    
Depreciation 474,330 474,822
Amortization 66,684 68,394
Stock-based compensation 65,597 51,227
Deferred income taxes 54,162 (38,335)
Distributions from affiliates 29,325 48,037
Equity in earnings of unconsolidated affiliates (34,157) (29,801)
Impairment of assets 110,000  
Changes in assets and liabilities (exclusive of acquisitions and dispositions):    
Accounts receivable (615,118) (406,582)
Inventories (644,865) (957,029)
Accounts payable 229,552 451,774
Federal income taxes 168,639 (30,859)
Salaries, wages and related accruals 173,732 74,306
Other operating activities 23,564 75,137
Cash provided by operating activities 1,901,459 766,568
Investing activities:    
Capital expenditures (624,739) (292,312)
Investment in and advances to affiliates (111,540) (19,000)
Disposition of plant and equipment 27,964 19,420
Acquisitions (net of cash acquired)   (543,153)
Purchases of investments   (50,000)
Proceeds from the sale of investments 50,000 150,000
Other investing activities 25,347 (1,455)
Cash used in investing activities (632,968) (736,500)
Financing activities:    
Net change in short-term debt (5) 32,409
Proceeds from long-term debt, net of discount 995,710  
Repayments of long-term debt (500,000)  
Bond issuance related costs (7,625)  
Issuance of common stock 24,102 5,417
Payment of tax withholdings on certain stock-based compensation (22,123) (13,960)
Distributions to noncontrolling interests (49,494) (85,094)
Cash dividends (364,982) (364,302)
Acquisition of treasury stock (351,392) (90,305)
Other financing activities (5,248) (1,703)
Cash used in financing activities (281,057) (517,538)
Effect of exchange rate changes on cash (4,383) 17,453
Increase (decrease) in cash and cash equivalents 983,051 (470,017)
Cash and cash equivalents-beginning of year 949,104 2,045,961
Cash and cash equivalents-end of nine months 1,932,155 1,575,944
Non-cash investing activity:    
Change in accrued plant and equipment purchases and assets recorded under capital lease arrangements $ 40,996 $ 42,810