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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Consolidated net income (loss) $ 586,464 $ (200,168) $ 721,574
Adjustments to reconcile consolidated net income (loss) to net cash provided by operations:      
Depreciation and amortization 189,058 189,790 186,384
Amortization of stock-based compensation 35,288 41,070 46,238
Equity in losses of affiliated companies 531 2,765 2,332
Deferred income taxes 29,713 (50,288) 1,236
Loss (gain) on investments, net (5,333) (11,462) 14,166
Loss on disposition of businesses, net 0 21,252 3,604
Pension settlement loss 0 20,111 1,665
Impairments 7,223 698,246 0
Other 5,059 10,659 9,198
Change in assets and liabilities, net of effects of acquired and disposed businesses:      
Accounts receivable, net (541,427) 338,849 (1,007,308)
Inventories 244,325 383,058 (618,875)
Accounts payable 760,883 (521,575) 936,423
Accrued expenses 86,484 (27,475) 112,123
Other assets and liabilities (38,425) (36,837) (136,070)
Net cash provided by operating activities 1,359,843 857,995 272,690
Cash flows from investing activities:      
Cash consideration paid for acquired businesses, net of cash acquired 0 0 (331,563)
Proceeds from (cash paid on) disposition of businesses 0 (13,094) 32,013
Acquisition of property, plant, and equipment (123,585) (143,191) (135,336)
Proceeds from sale of property, plant, and equipment 0 0 5,421
Cash paid for customer relationship intangible asset (713) (7,616) (20,000)
Other (14,496) (9,682) (13,500)
Net cash used for investing activities (138,794) (173,583) (462,965)
Cash flows from financing activities:      
Change in short-term and other borrowings (95,017) (113,923) 192,192
Proceeds from (repayments of) long-term bank borrowings, net (411,497) (405,007) 306,635
Redemption of notes (209,366) 0 (300,000)
Proceeds from exercise of stock options 21,037 16,911 8,819
Repurchases of common stock (483,735) (404,203) (243,305)
Settlement of forward-starting interest rate swap (48,378) 0 0
Other (141) (147) (1,174)
Net cash used for financing activities (1,227,097) (906,369) (36,833)
Effect of exchange rate changes on cash 79,560 12,733 6,352
Net increase (decrease) in cash and cash equivalents 73,512 (209,224) (220,756)
Cash and cash equivalents at beginning of year 300,103 509,327 730,083
Cash and cash equivalents at end of year $ 373,615 $ 300,103 $ 509,327