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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jul. 02, 2016
Jun. 27, 2015
Cash flows from operating activities:    
Consolidated net income $ 241,930 $ 230,774
Adjustments to reconcile consolidated net income to net cash provided by operations:    
Depreciation and amortization 81,322 76,913
Amortization of stock-based compensation 19,275 22,006
Equity in earnings of affiliated companies (4,083) (3,216)
Deferred income taxes 27,669 26,506
Excess tax benefits from stock-based compensation arrangements (4,939) (5,842)
Other 2,954 4,574
Change in assets and liabilities, net of effects of acquired businesses:    
Accounts receivable 529,246 1,079,153
Inventories (22,490) (82,825)
Accounts payable (606,678) (1,020,150)
Accrued expenses (114,741) (99,366)
Other assets and liabilities (38,137) (9,089)
Net cash provided by operating activities 111,328 219,438
Cash flows from investing activities:    
Cash consideration paid for acquired businesses (45,473) (470,674)
Acquisition of property, plant, and equipment (88,336) (68,820)
Other (12,000) 2,008
Net cash used for investing activities (145,809) (537,486)
Cash flows from financing activities:    
Change in short-term and other borrowings 67,611 (3,817)
Proceeds from long-term bank borrowings, net 233,000 34,400
Net proceeds from note offering 0 688,162
Redemption of notes 0 (254,313)
Proceeds from exercise of stock options 14,844 14,474
Excess tax benefits from stock-based compensation arrangements 4,939 5,842
Repurchases of common stock (46,833) (156,424)
Other (3,000) (3,000)
Net cash provided by financing activities 270,561 325,324
Effect of exchange rate changes on cash (13,399) (7,910)
Net increase (decrease) in cash and cash equivalents 222,681 (634)
Cash and cash equivalents at beginning of period 273,090 400,355
Cash and cash equivalents at end of period $ 495,771 $ 399,721