XML 61 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities:      
Net Earnings $ 448,636 $ 420,536 $ 357,929
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation of property and equipment 63,770 53,459 44,113
(Gain) loss on sale of property and equipment (643) (403) 194
Bad debt expense 9,421 9,726 9,217
Deferred income taxes 8,129 15,442 15,747
Stock-based compensation 5,400 4,800 4,050
Excess tax benefits from stock-based compensation (2,787) (10,149) 0
Amortization of non-compete agreements 421 593 593
Changes in operating assets and liabilities:      
Trade accounts receivable (51,593) (43,291) (77,678)
Inventories (68,685) (69,231) (88,783)
Other current assets (10,627) (7,528) (19,294)
Accounts payable 13,234 4,240 13,305
Accrued expenses 22,424 14,193 15,550
Income taxes (14,714) 704 (3,222)
Other (6,266) 3,201 (3,232)
Net cash provided by operating activities 416,120 396,292 268,489
Cash flows from investing activities:      
Purchases of property and equipment (206,540) (138,406) (120,043)
Proceeds from sale of property and equipment 4,990 4,524 3,554
Net (increase) decrease in marketable securities (97) 26,811 4,054
(Increase) decrease in other assets (145) (133) 212
Net cash used in investing activities (201,792) (107,204) (112,223)
Cash flows from financing activities:      
Borrowings under line of credit 260,000 0 0
Payments against line of credit (260,000) 0 0
Proceeds from exercise of stock options 9,306 29,644 8,939
Excess tax benefits from stock-based compensation 2,787 10,149 983
Purchases of common stock (9,080) 0 0
Payment of dividends (237,456) (367,306) (191,741)
Net cash used in financing activities (234,443) (327,513) (181,819)
Effect of exchange rate changes on cash (990) 360 (464)
Net decrease in cash and cash equivalents (21,105) (38,065) (26,017)
Cash and cash equivalents at beginning of year 79,611 117,676 143,693
Cash and cash equivalents at end of year 58,506 79,611 117,676
Supplemental disclosure of cash flow information:      
Cash paid during each year for interest 113 0 0
Cash paid during each year for income taxes $ 270,615 $ 268,357 $ 205,614