XML 19 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows from Operating Activities:    
Net income $ 116,994 $ 102,917
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 69,638 72,042
Amortization 4,935 4,235
Stock based compensation 11,719 14,405
Provision for doubtful accounts 49 245
Deferred income taxes 1,091 35
Defined benefit plan expense 8,547 8,423
Equity in results of affiliates 70 172
Changes in balance sheet items, excluding effects from foreign currency adjustments:    
Accounts and other receivables (45,760) (80,728)
Inventories (5,971) (16,757)
Prepaid and other current assets (10,602) (18,541)
Accounts payable and accrued liabilities 29,147 7,698
Income taxes payable (2,150) (683)
Retirement and deferred compensation plan liabilities (22,331) (15,141)
Other changes, net (6,454) 5,894
Net Cash Provided by Operations 148,922 84,216
Cash Flows from Investing Activities:    
Capital expenditures (66,705) (56,942)
Proceeds from sale of property and equipment, including insurance proceeds 978 1,446
Maturity of short-term investments   29,485
Acquisition of business, net of cash acquired   (202,985)
Acquisition of intangible assets   (2,493)
Investment in unconsolidated affiliate (5,000)  
Notes receivable, net 396 324
Net Cash Used by Investing Activities (70,331) (231,165)
Cash Flows from Financing Activities:    
Proceeds from (repayments of) notes payable (167,014) 59,330
Proceeds from long-term obligations 2,535 78
Repayments of long-term obligations (4,727) (2,343)
Dividends paid (39,932) (37,717)
Proceeds from stock option exercises 60,484 38,947
Purchase of treasury stock (26,728)  
Common stock repurchased and retired (40,994) (48,683)
Excess tax benefit from exercise of stock options   6,884
Net Cash (Used) Provided by Financing Activities (216,376) 16,496
Effect of Exchange Rate Changes on Cash 8,413 2,216
Net (Decrease) Increase in Cash and Equivalents (129,372) (128,237)
Cash and Equivalents at Beginning of Period 466,287 489,901
Cash and Equivalents at End of Period $ 336,915 $ 361,664