| 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 earnings | ||||||||||||
762,000 | 1,084,000 | 1,388,000 | 859,000 | 854,000 | 757,000 | 1,172,000 | 444,000 | 647,000 | 427,000 | 89,000 | 346,000 | 300,000 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||||||||
Depreciation and amortization | ||||||||||||
611,000 | 604,000 | 587,000 | 580,000 | 571,000 | 450,000 | 433,000 | 360,000 | 273,000 | 280,000 | 274,000 | 267,000 | 327,000 |
Mark-to-market pension and other postretirement benefit plans (gain) loss, net | ||||||||||||
-143,000 | -99,000 | 21,000 | -97,000 | -115,000 | -304,000 | 383,000 | -247,000 | 147,000 | - | - | - | - |
Asset impairment charges | ||||||||||||
72,000 | 39,000 | 1,000 | 9,000 | 107,000 | 52,000 | 28,000 | 46,000 | 0 | 8,000 | 179,000 | 1,000 | 138,000 |
Early debt extinguishment and other related costs | ||||||||||||
0 | -7,000 | 0 | -85,000 | 0 | 0 | - | - | - | -115,000 | 0 | 0 | - |
Gains from sale of assets and businesses | ||||||||||||
0 | 4,000 | 3,000 | 17,000 | 0 | 5,000 | 0 | 0 | 70,000 | 0 | 0 | -14,000 | -8,000 |
Gain from property insurance | ||||||||||||
0 | 65,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Provision for deferred income taxes | ||||||||||||
23,000 | -51,000 | -394,000 | 177,000 | 107,000 | 99,000 | 331,000 | 48,000 | -22,000 | 47,000 | 155,000 | -71,000 | -9,000 |
Changes in operating assets and liabilities, net of effect of acquisitions and divestitures: | ||||||||||||
(Increase) decrease in trade receivables | ||||||||||||
-170,000 | -16,000 | 53,000 | 29,000 | -114,000 | -19,000 | 38,000 | -48,000 | 73,000 | 358,000 | -2,000 | 261,000 | -28,000 |
(Increase) decrease in inventories | ||||||||||||
80,000 | 224,000 | 71,000 | -54,000 | 26,000 | 61,000 | 6,000 | -38,000 | 156,000 | 160,000 | -100,000 | -95,000 | 66,000 |
Increase (decrease) in trade payables | ||||||||||||
-27,000 | 90,000 | 123,000 | 7,000 | -102,000 | -30,000 | -2,000 | 10,000 | -51,000 | 152,000 | 16,000 | -211,000 | 48,000 |
Pension and other postretirement contributions (in excess of) less than expenses | ||||||||||||
119,000 | 152,000 | 115,000 | 329,000 | 217,000 | 176,000 | 149,000 | 97,000 | 103,000 | -12,000 | -107,000 | - | - |
Variable compensation (in excess of) less than expenses | ||||||||||||
-38,000 | -55,000 | -71,000 | -17,000 | -71,000 | -27,000 | -82,000 | -26,000 | -15,000 | -37,000 | 38,000 | - | - |
Other items, net | ||||||||||||
-89,000 | 45,000 | 144,000 | -125,000 | 30,000 | -3,000 | -171,000 | -42,000 | 18,000 | 15,000 | 12,000 | 162,000 | -47,000 |
Increase (decrease) in liabilities for employee benefits and incentive pay | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 7,000 | -55,000 |
Net cash provided by (used in) operating activities | ||||||||||||
1,504,000 | 1,543,000 | 1,657,000 | 1,385,000 | 1,624,000 | 1,433,000 | 1,297,000 | 1,128,000 | 625,000 | 575,000 | 758,000 | 653,000 | 732,000 |
Investing activities | ||||||||||||
Additions to properties and equipment | ||||||||||||
425,000 | 528,000 | 649,000 | 626,000 | 652,000 | 593,000 | 483,000 | 465,000 | 457,000 | 243,000 | 310,000 | 634,000 | 518,000 |
Proceeds from property insurance | ||||||||||||
0 | 65,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Proceeds from redemption of short-term time deposits | ||||||||||||
- | - | - | - | - | - | - | 200,000 | 0 | 0 | - | - | - |
Proceeds from sale of assets and businesses | ||||||||||||
0 | 5,000 | 14,000 | 41,000 | 4,000 | 13,000 | 31,000 | 7,000 | 651,000 | 13,000 | 30,000 | 337,000 | 202,000 |
Acquisitions, net of cash acquired | ||||||||||||
48,000 | 3,000 | 4,000 | 26,000 | 45,000 | 3,509,000 | 0 | 2,669,000 | 156,000 | 190,000 | -68,000 | -38,000 | -40,000 |
Additions to short-term time deposits | ||||||||||||
- | - | - | - | - | - | - | - | 200,000 | 0 | 0 | - | - |
Additions to capitalized software | ||||||||||||
- | - | - | - | - | - | - | 5,000 | 9,000 | 7,000 | 8,000 | 10,000 | 11,000 |
Other items, net | ||||||||||||
7,000 | 2,000 | 4,000 | 44,000 | 0 | 2,000 | 5,000 | 30,000 | -29,000 | 15,000 | 13,000 | 31,000 | -32,000 |
Net cash used in investing activities | ||||||||||||
-480,000 | -463,000 | -643,000 | -655,000 | -693,000 | -4,091,000 | -457,000 | -2,962,000 | -142,000 | -442,000 | -369,000 | -376,000 | -335,000 |
Financing activities | ||||||||||||
Net increase (decrease) in commercial paper and other borrowings | ||||||||||||
-70,000 | -146,000 | -19,000 | -150,000 | 195,000 | -190,000 | 425,000 | -1,000 | 1,000 | 2,000 | 3,000 | -7,000 | -5,000 |
Proceeds from borrowings | ||||||||||||
460,000 | 1,604,000 | 675,000 | 1,848,000 | 250,000 | 3,565,000 | 150,000 | 3,511,000 | -36,000 | 496,000 | 248,000 | 0 | 0 |
Repayment of borrowings | ||||||||||||
760,000 | 1,774,000 | 1,025,000 | 2,126,000 | 950,000 | 125,000 | 1,105,000 | 1,866,000 | 2,000 | 620,000 | 101,000 | 175,000 | 17,000 |
Dividends paid to stockholders | ||||||||||||
343,000 | 318,000 | 296,000 | 272,000 | 238,000 | 210,000 | 140,000 | 192,000 | 136,000 | 127,000 | 128,000 | 135,000 | 147,000 |
Treasury stock purchases | ||||||||||||
325,000 | 400,000 | 350,000 | 145,000 | 103,000 | 410,000 | 238,000 | 0 | 316,000 | 280,000 | 21,000 | 501,000 | 382,000 |
Dividends paid to noncontrolling interest | ||||||||||||
- | - | - | 8,000 | 6,000 | 9,000 | 10,000 | 4,000 | 3,000 | 0 | - | - | - |
Other items, net | ||||||||||||
-5,000 | -6,000 | 9,000 | 15,000 | - | - | - | - | - | - | - | - | - |
Proceeds from stock option exercises and other items, net | ||||||||||||
- | - | - | - | 8,000 | 18,000 | 59,000 | 56,000 | 69,000 | 118,000 | 17,000 | 39,000 | 103,000 |
Net cash provided by financing activities | ||||||||||||
-1,043,000 | -1,040,000 | -1,006,000 | -838,000 | -844,000 | 2,639,000 | -859,000 | 1,504,000 | -423,000 | -411,000 | 18,000 | -779,000 | -448,000 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||||
-3,000 | -5,000 | 2,000 | -4,000 | -8,000 | -4,000 | 7,000 | 2,000 | 1,000 | 1,000 | -1,000 | 1,000 | 0 |
Net change in cash and cash equivalents | ||||||||||||
-22,000 | 35,000 | 10,000 | -112,000 | 79,000 | -23,000 | -12,000 | -328,000 | 61,000 | -277,000 | 406,000 | -501,000 | -51,000 |