| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash provided by (used for): | ||||||||||||
Operating activities: | ||||||||||||
Net income | ||||||||||||
861,297 | 777,933 | 681,470 | 512,158 | 590,859 | 584,460 | 516,999 | 459,132 | 384,464 | 283,932 | 205,770 | 246,952 | 228,020 |
Adjustments to reconcile net income to total operating activities: | ||||||||||||
Depreciation and amortization | ||||||||||||
234,042 | 199,490 | 183,227 | 179,716 | 149,460 | 138,584 | 118,657 | 105,471 | 86,532 | 72,896 | 65,500 | 63,261 | 52,665 |
Deferred income taxes | ||||||||||||
19,380 | -73,682 | -91,205 | -5,632 | 6,458 | 20,579 | 1,414 | 3,552 | 12,154 | 3,774 | 5,768 | 29,742 | 4,769 |
Share-based compensation expense | ||||||||||||
40,394 | 27,315 | 25,091 | 22,030 | 23,762 | 19,871 | 21,591 | 19,384 | 22,147 | 16,596 | 13,502 | 20,186 | 15,530 |
Gain on sale of facilities | ||||||||||||
5,332 | -127 | 1,213 | 743 | - | 869 | 11,590 | - | - | - | - | - | - |
Changes in assets and liabilities, net of acquisitions: | ||||||||||||
Decrease (increase) in receivables | ||||||||||||
-14,398 | 13,383 | 24,581 | -14,773 | 6,995 | 35,258 | -5,247 | 4,225 | 12,450 | 43,179 | -87,146 | -6,636 | -26,944 |
Decrease (increase) in inventories and other current assets | ||||||||||||
-16,410 | 59,472 | 6,087 | -38,666 | 12,007 | -11,626 | 1,790 | -29,555 | 11,923 | -7,334 | -83,622 | 35,180 | 194 |
(Decrease) increase in payables, accruals and income taxes | ||||||||||||
-58,932 | 36,547 | 124,399 | 2,657 | -20,049 | -18,653 | 7,951 | -10,304 | 28,053 | 77,773 | -91,622 | 3,161 | 13,421 |
(Decrease) increase in other long-term liabilities | ||||||||||||
-16,845 | 42,814 | 2,787 | -4,298 | 255 | 8,867 | 9,702 | 9,535 | 550 | 6,382 | 3,345 | -1,907 | -7,153 |
Pension contributions | ||||||||||||
5,609 | 5,063 | 54,796 | 6,775 | 55,215 | 5,729 | 5,856 | 4,292 | 5,386 | 3,555 | 21,127 | 79,905 | -5,162 |
Other, net | ||||||||||||
-15,219 | 7,108 | 5,833 | -4,283 | 3,988 | -2,484 | 1,666 | -4,656 | -4,424 | -1,060 | -12,767 | -5,681 | 3,183 |
Total operating activities | ||||||||||||
1,114,422 | 925,518 | 833,259 | 756,835 | 672,540 | 725,962 | 660,659 | 612,464 | 508,565 | 423,013 | 364,671 | 247,265 | 278,523 |
Investing activities: | ||||||||||||
Additions to property, plant and equipment | ||||||||||||
102,346 | 82,076 | 75,074 | 63,280 | 69,083 | 71,327 | 63,314 | 57,427 | 50,816 | 39,183 | 33,062 | 44,215 | 37,620 |
Purchases of businesses, net of cash acquired | ||||||||||||
1,061,945 | 1,129,305 | 556,634 | 391,419 | 356,466 | 573,647 | 414,315 | 747,675 | 474,441 | 538,585 | 72,919 | 463,012 | 300,569 |
Proceeds from sale of facilities | ||||||||||||
11,306 | 2,570 | 6,290 | 1,832 | 421 | 950 | 12,799 | - | - | - | - | - | - |
Decrease (increase) in marketable securities | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 638 | -6,323 | 1,700 |
Other, net | ||||||||||||
-2,060 | 1,233 | 399 | -500 | 429 | -2,391 | -4,497 | -1,371 | 1,196 | -10,945 | -275 | -4,282 | -5,228 |
Total investing activities | ||||||||||||
-1,150,925 | -1,210,044 | -625,817 | -452,367 | -425,557 | -641,633 | -460,333 | -803,731 | -526,453 | -566,823 | -106,344 | -496,622 | -334,661 |
Financing activities: | ||||||||||||
Net change in short-term borrowings | ||||||||||||
130,705 | 258,349 | -9,616 | -315,674 | 226,761 | -172,495 | -45,186 | 179,426 | 41,550 | 92,364 | -13,013 | 69,693 | -162,589 |
Proceeds from long-term borrowings | ||||||||||||
100,000 | 560,050 | - | 820,900 | 200,000 | 500,000 | 872 | - | 58,981 | 125,120 | 1,466 | 430,000 | 370,000 |
Repayments of long-term borrowings | ||||||||||||
100,000 | 305,000 | 270,000 | 48,724 | 182,007 | 914 | 617 | 1,539 | 1,463 | 78,200 | 80,817 | 232,835 | 26,553 |
Repayment of life insurance policy loans | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 21,394 | 0 |
Repurchases of common stock | ||||||||||||
11,924 | 367,678 | 6,867 | 336,140 | 435,400 | 245,283 | 8,467 | 4,642 | 59,336 | 78,609 | - | 57,444 | 5,437 |
Cash dividends paid | ||||||||||||
127,496 | 128,911 | 82,735 | 83,267 | 85,988 | 80,551 | 58,405 | 53,083 | 38,366 | 28,554 | 25,579 | 25,685 | 25,748 |
Acquisition contingent consideration | ||||||||||||
3,000 | 25,500 | - | - | - | - | - | - | - | - | - | - | - |
Excess tax benefits from share-based payments | ||||||||||||
- | - | - | 5,343 | 20,478 | 7,889 | 16,185 | 14,970 | 13,056 | 8,990 | 4,096 | 4,890 | 9,464 |
Proceeds from stock option exercises | ||||||||||||
90,388 | 30,021 | 40,047 | 17,622 | - | - | - | - | - | - | - | - | - |
Other, net | ||||||||||||
-5,760 | -8,291 | - | -3,006 | - | - | - | - | - | - | - | - | - |
Proceeds from employee stock plans and other, net | ||||||||||||
- | - | - | - | 39,192 | 15,493 | 25,334 | 39,407 | 17,436 | 21,518 | 11,328 | 6,238 | 14,961 |
Total financing activities | ||||||||||||
72,913 | 13,040 | -329,171 | 57,054 | -216,964 | 24,139 | -70,284 | 174,539 | 31,858 | 62,629 | -102,519 | 173,463 | 174,098 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||||
2,645 | -20,839 | 50,770 | -25,268 | -26,629 | -26,056 | 7,177 | 4,320 | -6,786 | -1,967 | 3,568 | -7,265 | 3,088 |
Increase in cash and cash equivalents | ||||||||||||
39,055 | -292,325 | -70,959 | 336,254 | 3,390 | 82,412 | 137,219 | -12,408 | 7,184 | -83,148 | 159,376 | -83,159 | 121,048 |