| 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 FLOWS FROM OPERATING ACTIVITIES: | ||||||||||||
Net earnings | ||||||||||||
895,000 | 823,000 | 623,000 | 633,000 | 785,174 | 812,296 | 807,749 | 698,849 | 666,412 | 513,582 | 430,772 | 475,355 | 420,120 |
Provision for credit losses | ||||||||||||
12,000 | 7,000 | 16,000 | 16,000 | 10,181 | 12,945 | 8,855 | 9,504 | 4,761 | 6,718 | 10,748 | 12,924 | 15,436 |
Deferred income taxes and tax uncertainties | ||||||||||||
4,000 | 7,000 | -5,000 | -6,000 | 4,076 | -13,732 | -9,319 | 12,343 | -1,666 | 5,553 | -21,683 | 5,182 | -18,632 |
Depreciation and amortization | ||||||||||||
229,000 | 257,000 | 264,000 | 249,000 | 227,967 | 208,326 | 180,613 | 159,049 | 149,200 | 149,678 | 147,531 | 139,570 | 131,999 |
Impairment of goodwill, intangible and other assets | ||||||||||||
123,000 | 156,000 | 28,000 | 52,000 | 0 | 16,652 | 26,284 | 4,945 | 0 | - | - | - | - |
Net (gains) losses from sales of assets and business divestitures | ||||||||||||
6,000 | 6,000 | -28,000 | 19,000 | -2,765 | -41,037 | 22,155 | -2,609 | -8,069 | - | - | - | - |
Stock-based compensation | ||||||||||||
40,000 | 47,000 | 33,000 | 36,000 | 46,861 | 49,032 | 55,590 | 55,500 | 54,020 | 49,796 | 43,301 | 47,870 | 35,551 |
Tax benefit of stock incentive plans | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 3,193 |
Net losses (gains) on property, buildings and equipment | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | -7,254 |
Losses from equity method investment | ||||||||||||
- | - | - | -31,000 | -11,740 | 0 | 0 | - | - | - | - | - | 2,016 |
Subtotal | ||||||||||||
402,000 | 468,000 | 364,000 | - | - | - | - | - | - | - | - | - | - |
Gain on sale of investment in unconsolidated entity | ||||||||||||
- | - | - | - | - | - | - | - | 7,639 | 0 | 47,343 | -6,031 | 0 |
Change in operating assets and liabilities: | ||||||||||||
Accounts receivable | ||||||||||||
42,000 | 79,000 | 103,000 | 46,000 | 3,085 | 122,580 | 126,465 | 45,953 | 85,083 | 127,790 | -2,794 | -5,592 | -41,814 |
Inventories | ||||||||||||
106,000 | 129,000 | 5,000 | 4,000 | 37,737 | 92,443 | 23,636 | 14,872 | 219,680 | 80,545 | -175,286 | -92,518 | -97,234 |
Prepaid expenses and other assets | ||||||||||||
33,000 | 2,000 | 5,000 | -19,000 | -15,788 | 24,550 | -16,873 | -8,346 | 24,228 | 8,806 | 11,180 | -33,629 | -2,342 |
Trade accounts payable | ||||||||||||
32,000 | -51,000 | 72,000 | 73,000 | 23,130 | 32,019 | 71,118 | -54,314 | 86,395 | 36,219 | -16,736 | -6,960 | -39,436 |
Accrued liabilities | ||||||||||||
-84,000 | 18,000 | 113,000 | -4,000 | -24,101 | 8,693 | -707 | -58,673 | 50,718 | 49,576 | -52,944 | 199 | 54,457 |
Income taxes - net | ||||||||||||
-3,000 | 36,000 | 4,000 | -4,000 | 6,943 | -1,487 | -4,813 | -9,349 | 16,827 | -1,503 | 2,472 | -7,784 | 2,304 |
Other non-current liabilities | ||||||||||||
-19,000 | -27,000 | -6,000 | 8,000 | -27,721 | 35,027 | 9,872 | 45,795 | 45,680 | 18,128 | 22,080 | 3,216 | 17,705 |
Other – net | ||||||||||||
- | - | - | 10,000 | 5,872 | 1,421 | 3,361 | -2,416 | 1,010 | 3,055 | -3,932 | -13,798 | -3,162 |
Net cash provided by operating activities | ||||||||||||
1,042,000 | 1,057,000 | 1,057,000 | 1,024,000 | 1,036,109 | 959,814 | 986,498 | 816,195 | 746,108 | 596,445 | 732,396 | 530,066 | 468,875 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||||
Additions to property, buildings, equipment and intangibles | ||||||||||||
221,000 | 239,000 | 237,000 | 284,000 | 373,868 | 387,390 | 272,145 | 249,860 | 196,942 | 127,124 | 142,414 | 181,355 | -197,423 |
Proceeds from sales of assets | ||||||||||||
17,000 | 86,000 | 120,000 | 55,000 | 14,857 | 26,755 | 26,701 | 8,530 | 7,278 | 6,508 | 1,684 | - | 12,084 |
Equity method proceeds (investment) | ||||||||||||
2,000 | 13,000 | 35,000 | 34,000 | 20,382 | 0 | 0 | - | - | - | - | - | - |
Cash paid for business acquisitions | ||||||||||||
- | - | - | - | 464,431 | 30,713 | 153,915 | 64,808 | 359,296 | 62,072 | 123,093 | 34,290 | -9,480 |
Other | ||||||||||||
0 | 0 | -6,000 | -1,000 | -466 | -7,290 | 68 | -482 | -13,892 | -13,529 | -1,260 | -13,010 | - |
Investments in unconsolidated entities | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | -2,138 |
Net cash used in investing activities | ||||||||||||
-202,000 | -166,000 | -146,000 | -262,000 | -843,358 | -384,058 | -399,427 | -305,656 | -535,068 | -169,159 | -262,563 | -202,635 | -196,957 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||||
Net decrease in commercial paper | ||||||||||||
0 | 0 | -370,000 | 40,000 | 325,000 | 5,000 | 0 | - | - | - | - | -95,947 | 95,947 |
Borrowings under lines of credit | ||||||||||||
20,000 | 26,000 | 74,000 | 36,000 | 54,770 | 108,721 | 144,805 | 161,160 | 218,885 | 35,297 | 46,125 | 29,959 | 14,107 |
Payments against lines of credit | ||||||||||||
15,000 | 31,000 | 43,000 | 37,000 | 78,559 | 117,277 | 154,450 | 205,006 | 194,325 | 29,799 | 43,583 | 15,437 | -7,751 |
Proceeds from Issuance of Long-term Debt | ||||||||||||
0 | 0 | 401,000 | 516,000 | 1,307,183 | 150,504 | 0 | 300,000 | 172,464 | 200,000 | 0 | 500,000 | 0 |
Payments of long-term debt | ||||||||||||
42,000 | 96,000 | 39,000 | 263,000 | 52,838 | 170,907 | 16,681 | 219,950 | 179,296 | 239,122 | 18,856 | 0 | 0 |
Proceeds from stock options exercised | ||||||||||||
49,000 | 181,000 | 47,000 | 34,000 | 60,885 | 48,579 | 69,412 | 72,084 | 84,337 | 86,528 | 91,165 | 46,833 | 113,500 |
Payments for employee taxes withheld from stock awards | ||||||||||||
- | - | - | 21,000 | 46,205 | - | - | - | - | - | - | - | - |
Payments for employee taxes withheld from stock awards | ||||||||||||
-11,000 | -12,000 | -28,000 | 12,000 | 27,553 | 33,772 | 59,984 | 57,885 | 52,098 | 25,650 | 19,030 | 13,533 | 30,696 |
Purchases of treasury stock | ||||||||||||
700,000 | 425,000 | 605,000 | 790,000 | 1,400,071 | 525,120 | 438,473 | 340,532 | 151,082 | 504,803 | 372,727 | 394,247 | -647,293 |
Cash dividends paid | ||||||||||||
328,000 | 316,000 | 304,000 | 303,000 | 306,474 | 291,395 | 255,466 | 220,077 | 180,527 | 152,338 | 134,684 | 121,504 | -113,093 |
Other - net | ||||||||||||
4,000 | 3,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||||||
-1,023,000 | -670,000 | -867,000 | -776,000 | -108,756 | -758,123 | -590,869 | -394,436 | -177,446 | -578,587 | -413,530 | -36,810 | -513,887 |
Exchange rate effect on cash and cash equivalents | ||||||||||||
5,000 | -10,000 | 9,000 | -2,000 | -20,503 | -21,633 | -17,621 | 469 | -11,557 | 4,884 | 7,278 | -7,768 | 6,935 |
NET CHANGE IN CASH AND CASH EQUIVALENTS: | ||||||||||||
-178,000 | 211,000 | 53,000 | -16,000 | 63,492 | -204,000 | -21,419 | 116,572 | 22,037 | -146,417 | 63,581 | 282,853 | -235,034 |
Supplemental cash flow information: | ||||||||||||
Cash payments for interest (net of amounts capitalized) | ||||||||||||
84,000 | 86,000 | 78,000 | 63,000 | 31,591 | 10,172 | 12,954 | 16,028 | 8,996 | 8,188 | 8,766 | 14,508 | 4,409 |
Cash payments for income taxes | ||||||||||||
322,000 | 229,000 | 335,000 | 360,000 | 442,486 | 509,378 | 414,363 | 383,698 | 312,616 | 319,754 | 235,043 | 306,960 | 244,541 |