| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||||||||
Net income including noncontrolling interest | ||||||||||||
1,576,200 | 1,440,300 | 1,518,600 | 1,246,500 | 1,017,200 | 1,222,200 | 973,600 | 701,300 | 463,300 | 531,100 | 418,700 | 448,400 | 428,900 |
Adjustments to reconcile net income to cash provided by operating activities: | ||||||||||||
Depreciation | ||||||||||||
654,000 | 621,000 | 586,000 | 561,000 | 559,500 | 558,100 | 514,200 | 468,200 | 331,400 | 306,400 | - | - | - |
Amortization | ||||||||||||
319,200 | 317,000 | 307,600 | 289,700 | 300,000 | 313,900 | 302,000 | 246,300 | 64,300 | 41,500 | - | - | - |
Deferred income taxes | ||||||||||||
-37,600 | 85,100 | -353,500 | -90,600 | -244,500 | -121,500 | -130,500 | -3,200 | 41,700 | -31,100 | 88,100 | 80,600 | 2,500 |
Depreciation and amortization | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 334,300 | 334,700 | 291,900 |
Share-based compensation expense | ||||||||||||
91,100 | 94,400 | 90,500 | 85,700 | 78,200 | 71,100 | 69,600 | 65,800 | 39,900 | 29,200 | 37,300 | 33,600 | 37,900 |
Excess tax benefits from share-based payment arrangements | ||||||||||||
- | - | - | 43,600 | 57,800 | 55,900 | 36,600 | 50,100 | 13,700 | 16,900 | 7,700 | 8,200 | 20,600 |
Pension and postretirement plan contributions | ||||||||||||
186,000 | 60,000 | 144,100 | 211,800 | 64,900 | 76,700 | 80,000 | 254,900 | 156,600 | 46,600 | 263,700 | 112,400 | 40,700 |
Pension and postretirement plan expense | ||||||||||||
28,100 | 31,900 | 36,900 | 54,100 | 113,800 | 83,900 | 142,400 | 114,600 | 83,100 | 90,800 | 82,000 | 73,600 | 80,900 |
Restructuring charges, net of cash paid | ||||||||||||
35,200 | 43,500 | 5,200 | -60,500 | 38,400 | 300 | -39,800 | 66,600 | 49,500 | - | 22,400 | - | - |
Venezuelan charges | ||||||||||||
- | - | - | - | -289,300 | - | -23,200 | - | - | - | - | - | - |
Gain on sale of businesses | ||||||||||||
- | - | 50,600 | 500 | -13,700 | 4,800 | -1,900 | 89,300 | - | - | - | - | 11,000 |
Asset charges and write-downs | ||||||||||||
- | - | 15,100 | 65,900 | 24,700 | - | - | - | - | - | - | - | - |
Gain on sale of plant | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 24,500 | - |
Business write-downs and closures | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 2,400 | 19,100 | - |
Other, net | ||||||||||||
-19,800 | -24,000 | -37,400 | -14,200 | -11,600 | -7,800 | -16,400 | -5,600 | -8,900 | -1,800 | -12,900 | 5,300 | 6,900 |
Changes in operating assets and liabilities, net of effect of acquisitions: | ||||||||||||
Accounts receivable | ||||||||||||
137,200 | 164,100 | 91,500 | -900 | 24,000 | 175,400 | 147,400 | 189,700 | 106,000 | 39,300 | -45,100 | 89,900 | 34,400 |
Inventories | ||||||||||||
-41,000 | 141,100 | 85,500 | -18,800 | 48,600 | 210,800 | 30,500 | 2,000 | 36,100 | -18,600 | -13,000 | 57,500 | 19,300 |
Other assets | ||||||||||||
81,500 | 80,700 | 48,900 | 34,900 | 69,100 | 106,300 | 68,700 | -18,600 | 60,200 | -42,400 | 30,700 | -6,800 | -20,700 |
Accounts payable | ||||||||||||
22,300 | 113,500 | 121,100 | -55,100 | -46,100 | 174,700 | 50,600 | 79,000 | 60,900 | 6,800 | -25,100 | 30,000 | -10,000 |
Other liabilities | ||||||||||||
76,000 | -47,400 | 147,300 | 99,900 | 108,400 | 135,000 | -600 | 26,200 | -84,900 | 15,700 | -34,000 | 13,600 | 63,900 |
Cash provided by operating activities | ||||||||||||
2,420,700 | 2,277,700 | 2,091,300 | 1,939,700 | 1,999,800 | 1,815,600 | 1,559,800 | 1,203,000 | 685,500 | 950,400 | 695,000 | 753,200 | 797,600 |
INVESTING ACTIVITIES | ||||||||||||
Capital expenditures | ||||||||||||
800,600 | 847,100 | 868,600 | 756,800 | 771,000 | 748,700 | 625,100 | 574,500 | 341,700 | 260,500 | 252,500 | 326,700 | 306,500 |
Capitalized software expenditures | ||||||||||||
- | - | - | - | 44,200 | 45,200 | 37,200 | 33,000 | 24,300 | 37,200 | 44,800 | 67,800 | 55,000 |
Property and other assets sold | ||||||||||||
10,900 | 30,000 | 10,700 | 30,500 | 15,000 | 10,900 | 18,100 | 15,900 | 3,000 | 2,600 | 11,700 | 36,400 | 7,400 |
Acquisitions and investments in affiliates, net of cash acquired | ||||||||||||
391,400 | 229,800 | 989,200 | 49,500 | 265,900 | 82,600 | 1,437,700 | 43,000 | 1,633,200 | 43,400 | 14,400 | 203,800 | 329,400 |
Divestiture of businesses | ||||||||||||
6,800 | 9,200 | 118,800 | 900 | 500 | 10,400 | -8,300 | 130,700 | - | 16,000 | 700 | 2,200 | 19,800 |
Release from (deposit into) acquisition related escrow | ||||||||||||
- | - | - | - | 45,600 | 8,700 | 13,000 | 17,300 | - | 21,000 | - | - | - |
Deposit into acquisition related escrow | ||||||||||||
- | - | - | - | - | 9,400 | 10,500 | 1,300 | 28,100 | 2,100 | - | 21,000 | - |
Reduction of cash due to Venezuelan deconsolidation | ||||||||||||
- | - | - | - | 4,200 | - | - | - | - | - | - | - | - |
Settlement of net investment hedges | ||||||||||||
- | 14,100 | 2,100 | 1,300 | 108,400 | 7,600 | - | - | - | - | - | - | - |
Other, net | ||||||||||||
24,800 | 6,400 | 800 | - | - | - | - | - | - | - | - | - | - |
Cash used for investing activities | ||||||||||||
-1,199,100 | -1,030,000 | -1,727,000 | -773,600 | -915,800 | -848,300 | -2,087,700 | -487,900 | -2,024,300 | -303,600 | -299,300 | -580,700 | -663,700 |
FINANCING ACTIVITIES | ||||||||||||
Net issuances of commercial paper and notes payable | ||||||||||||
-252,000 | 341,800 | -43,700 | -606,400 | -312,100 | 599,600 | -278,300 | -387,300 | 907,100 | -66,600 | -244,000 | -67,800 | 279,900 |
Long-term debt borrowings | ||||||||||||
- | - | 1,309,400 | 2,390,000 | 1,223,700 | - | 900,100 | 1,001,200 | 4,238,700 | - | - | 257,700 | - |
Long-term debt repayments | ||||||||||||
400,600 | 551,600 | 799,000 | 1,569,600 | 1,034,700 | 907,800 | 511,200 | 1,694,900 | 1,420,400 | 7,400 | 6,400 | 3,900 | 394,200 |
Reacquired shares | ||||||||||||
353,700 | 562,400 | 600,300 | 739,600 | 755,100 | 428,600 | 307,600 | 209,900 | 690,000 | 348,800 | 68,800 | 337,200 | 371,400 |
Dividends paid | ||||||||||||
554,900 | 496,500 | 448,700 | 427,500 | 400,700 | 344,400 | 218,100 | 306,800 | 162,900 | 145,500 | 132,700 | 128,500 | 114,000 |
Exercise of employee stock options | ||||||||||||
186,800 | 114,500 | 83,800 | 76,800 | 83,100 | 65,400 | 97,000 | 163,700 | 89,000 | 89,200 | 46,400 | 36,400 | 96,700 |
Excess tax benefits from share-based payment arrangements | ||||||||||||
- | - | - | 43,600 | 57,800 | 55,900 | 36,600 | 50,100 | 13,700 | 16,900 | 7,700 | 8,200 | 20,600 |
Acquisition related liabilities and contingent consideration | ||||||||||||
1,500 | 10,100 | 8,500 | 35,500 | 12,900 | 98,700 | 11,300 | - | - | - | - | - | - |
Acquisition of noncontrolling interest | ||||||||||||
- | - | - | - | - | 8,400 | - | - | - | - | - | - | - |
Other, net | ||||||||||||
26,300 | -8,400 | -15,700 | - | - | -4,000 | 200 | -9,700 | -41,400 | - | - | -500 | - |
Cash provided by (used for) financing activities | ||||||||||||
-1,349,600 | -1,172,700 | -522,700 | -868,200 | -1,150,900 | -1,071,000 | -292,600 | -1,393,600 | 2,933,800 | -462,200 | -397,800 | -235,600 | -482,400 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||||
20,400 | 7,600 | -10,600 | -10,300 | -49,900 | -25,900 | 1,900 | -7,300 | 6,300 | -15,900 | 9,000 | -7,600 | 1,900 |
Increase (decrease) in cash, cash equivalents and restricted cash | ||||||||||||
-107,600 | 82,600 | -169,000 | 287,600 | -116,800 | -129,600 | -818,600 | -685,800 | 1,601,300 | 168,700 | 6,900 | -70,700 | -346,600 |
SUPPLEMENTAL CASH FLOW INFORMATION | ||||||||||||
Income taxes paid | ||||||||||||
356,300 | 395,200 | 402,800 | 359,100 | 533,100 | 522,000 | 434,200 | 222,600 | 224,200 | 209,600 | 143,500 | 100,400 | 161,000 |
Interest paid | ||||||||||||
189,400 | 206,400 | 239,300 | 267,000 | 237,200 | 255,500 | 258,900 | 279,000 | 71,100 | 63,300 | 66,400 | 64,300 | 75,500 |