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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Consolidated net income $ 524,723 $ 500,486 $ 498,390
Adjustments to reconcile consolidated net income to net cash provided by operations:      
Depreciation and amortization 159,195 155,754 156,048
Amortization of stock-based compensation 39,825 47,274 41,930
Equity in earnings of affiliated companies (7,573) (7,037) (7,318)
Deferred income taxes 28,130 5,833 (25,744)
Trade name impairment charge 0 0 78,000
Gain on sale of investment 0 (2,008) (18,269)
Excess tax benefits from stock-based compensation arrangements (5,049) (5,911) (7,129)
Other 5,972 10,894 2,686
Change in assets and liabilities, net of effects of acquired businesses:      
Accounts receivable (636,944) (68,990) (521,613)
Inventories (403,980) (42,790) (210,789)
Accounts payable 582,165 33,398 628,697
Accrued expenses 47,020 56,139 41,720
Other assets and liabilities 22,322 (27,963) 16,692
Net cash provided by operating activities 355,806 655,079 673,301
Cash flows from investing activities:      
Cash consideration paid for acquired businesses (64,751) (514,731) (162,881)
Acquisition of property, plant, and equipment (164,695) (154,800) (122,505)
Proceeds from sale of facilities 0 3,496 0
Proceeds from sale of investment 0 2,008 40,542
Other (12,000) 0 0
Net cash used for investing activities (241,446) (664,027) (244,844)
Cash flows from financing activities:      
Change in short-term and other borrowings 48,684 (46,645) (12,541)
Proceeds from (repayment of) long-term bank borrowings, net 313,000 (128,000) (145,000)
Net proceeds from note offering 0 688,162 0
Redemption of notes 0 (254,313) 0
Proceeds from exercise of stock options 18,967 14,900 21,788
Excess tax benefits from stock-based compensation arrangements 5,049 5,911 7,129
Repurchases of common stock (216,446) (356,434) (304,763)
Other (3,190) (7,768) (1,499)
Net cash provided by (used for) financing activities 166,064 (84,187) (434,886)
Effect of exchange rate changes on cash (19,194) (34,130) 16,182
Net increase (decrease) in cash and cash equivalents 261,230 (127,265) 9,753
Cash and cash equivalents at beginning of year 273,090 400,355 390,602
Cash and cash equivalents at end of year $ 534,320 $ 273,090 $ 400,355