XML 23 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net earnings $ 7,122,370 $ 836,028 $ 1,370,910
Adjustments:      
Depreciation 735,406 702,110 648,911
Amortization 129,157 83,356 85,742
Stock-based compensation 135,775 73,853 90,359
Deferred income taxes 11,665 162,836 99,157
Distributions from affiliates 200 10,521 37,459
Equity in (earnings) losses of unconsolidated subsidiaries (103,068) 10,533 (3,311)
Losses and impairments of assets 62,161 613,640 66,916
Changes in assets and liabilities (exclusive of acquisitions and dispositions):      
Accounts receivable (1,392,084) (129,290) 361,340
Inventories (2,307,336) 284,081 712,645
Accounts payable 383,428 250,561 (253,457)
Federal income taxes 313,679 (197,275) (180,325)
Salaries, wages and related accruals 997,034 (41,169) (186,755)
Other operating activities 142,389 37,092 (40,178)
Cash provided by operating activities 6,230,776 2,696,877 2,809,413
Investing activities:      
Capital expenditures (1,621,989) (1,543,219) (1,477,293)
Investment in and advances to affiliates (237) (44,427) (45,834)
Divestiture of affiliates     67,591
Disposition of plant and equipment 19,401 40,933 41,618
Acquisitions (net of cash acquired) (1,426,424) (88,071) (83,106)
Purchases of investments (493,889) (488,517) (367,741)
Proceeds from the sale of investments 648,887 392,178 67,701
Other investing activities 399 (33,171) 2,873
Cash used in investing activities (2,873,852) (1,764,294) (1,794,191)
Financing activities:      
Net change in short-term debt 49,817 (4,538) 4,574
Proceeds from issuance of long-term debt, net of discount 196,990 1,237,635  
Repayment of long-term debt   (97,150)  
Premium on debt exchange   (180,383)  
Bond issuance costs   (6,250)  
Proceeds from exercise of stock options 145,255 11,846 16,145
Payment of tax withholdings on certain stock-based compensation (73,260) (19,102) (25,047)
Distributions to noncontrolling interests (150,700) (115,508) (76,347)
Cash dividends (483,469) (491,655) (492,062)
Acquisition of treasury stock (3,276,088) (39,499) (298,541)
Other financing activities (11,424) (9,542) (9,132)
Cash (used in) provided by financing activities (3,602,879) 285,854 (880,410)
Effect of exchange rate changes on cash (316) 1,887 907
(Decrease) increase in cash and cash equivalents and restricted cash and cash equivalents (246,271) 1,220,324 135,719
Cash and cash equivalents and restricted cash and cash equivalents - beginning of year 2,754,929 1,534,605 1,398,886
Cash and cash equivalents and restricted cash and cash equivalents - end of year 2,508,658 2,754,929 1,534,605
Non-cash investing activity:      
Change in accrued plant and equipment purchases $ 78,375 $ (16,103) $ 34,777