| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash Flows from Operating Activities | |||||||||||
Net income | |||||||||||
407,400 | 366,100 | 249,900 | 297,800 | 282,100 | 327,200 | 329,800 | 302,100 | 270,200 | 218,800 | 181,300 | 223,200 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
151,000 | 148,400 | 98,200 | 90,900 | 85,200 | 79,200 | 70,600 | 66,800 | 68,200 | 72,500 | 70,600 | 63,100 |
Deferred income taxes | |||||||||||
6,100 | 49,000 | -14,300 | 12,700 | -4,500 | 30,300 | 13,300 | 27,500 | 18,800 | 25,000 | 32,300 | 700 |
Stock-based compensation | |||||||||||
16,400 | 24,200 | 22,300 | 22,300 | 17,000 | 16,400 | 14,300 | 15,800 | 15,100 | 11,400 | 10,300 | 12,500 |
Gain (Loss) on Disposition of Business | |||||||||||
21,700 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Multi-employer pension charge | |||||||||||
8,500 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Gain (Loss) on Extinguishment of Debt | |||||||||||
0 | 0 | -10,100 | 0 | 0 | - | - | - | - | - | - | - |
Tax benefit on stock-based awards | |||||||||||
- | - | - | - | - | 9,200 | 8,400 | 15,600 | 8,200 | 9,700 | -1,300 | -800 |
Gain on sale of assets | |||||||||||
400 | 4,000 | 11,600 | 5,800 | -500 | 1,300 | -200 | -400 | 3,900 | -1,300 | 500 | 600 |
Changes in assets and liabilities, excluding effects of acquisitions: | |||||||||||
(Increase) decrease in accounts receivable, net | |||||||||||
-46,200 | 75,400 | -3,900 | 42,300 | -1,900 | 17,800 | 30,900 | 1,800 | 51,600 | 26,100 | 85,500 | -3,700 |
Decrease (increase) in inventories, net | |||||||||||
-12,200 | -34,200 | 90,300 | -18,400 | 80,800 | 46,900 | 25,900 | 11,800 | 16,400 | 32,600 | 98,700 | 6,900 |
Decrease in current liabilities | |||||||||||
-36,200 | 15,600 | 57,400 | 13,800 | 46,600 | 20,000 | 1,700 | -31,700 | 46,500 | 19,800 | -57,300 | 18,900 |
Changes in other assets and liabilities, net | |||||||||||
-900 | 20,400 | -50,700 | -8,400 | -6,100 | -15,400 | -15,800 | -20,700 | -22,800 | -9,700 | 9,700 | 7,400 |
Contribution to qualified defined benefit pension plans | |||||||||||
10,400 | 27,900 | 1,700 | 18,000 | 22,600 | 23,500 | 3,200 | 22,600 | 22,700 | 23,700 | -27,400 | -11,200 |
Other, net | |||||||||||
-11,600 | -7,300 | -4,400 | -12,800 | -7,900 | -1,700 | -4,500 | 700 | 3,800 | 200 | -5,200 | 1,600 |
Net cash provided by operating activities | |||||||||||
591,600 | 517,100 | 379,000 | 411,000 | 339,400 | 391,500 | 381,800 | 349,100 | 335,000 | 266,200 | 397,700 | 319,200 |
Cash Flows from Investing Activities | |||||||||||
Capital expenditures | |||||||||||
93,900 | 96,200 | 79,700 | 67,200 | 77,100 | 60,300 | 58,800 | 49,100 | 55,400 | 47,300 | 29,400 | 49,400 |
Acquisition of businesses, net of cash acquired | |||||||||||
70,800 | 1,118,000 | 184,100 | 173,400 | 163,400 | 183,800 | 96,500 | 90,700 | 29,600 | 0 | 355,800 | 267,400 |
Proceeds from disposal of business, net of cash | |||||||||||
33,400 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Purchases of available-for-sale investments | |||||||||||
14,100 | 16,600 | 20,900 | 20,000 | 24,500 | 17,600 | 11,100 | 9,500 | 23,800 | 25,400 | 5,200 | 16,600 |
Receipt of escrow funds from acquisition | |||||||||||
- | - | - | - | - | - | - | 6,800 | 0 | 0 | - | - |
Proceeds from available-for-sale investments | |||||||||||
12,500 | 20,500 | 17,400 | 13,300 | 13,800 | 12,100 | 10,500 | 19,400 | 9,400 | 14,900 | 14,700 | 20,500 |
Proceeds from disposition of assets | |||||||||||
3,100 | 6,800 | 18,400 | 10,800 | 700 | 6,000 | 3,400 | 4,800 | 9,600 | 1,900 | 600 | 1,000 |
Other, net | |||||||||||
-900 | -2,100 | -3,300 | -6,300 | -900 | -1,000 | -1,400 | -2,200 | -3,300 | -1,200 | -2,000 | -5,500 |
Net cash used in investing activities | |||||||||||
-128,900 | -1,201,400 | -245,600 | -230,200 | -249,600 | -242,600 | -151,100 | -116,100 | -86,500 | -54,700 | -373,100 | -306,400 |
Cash Flows from Financing Activities | |||||||||||
Issuance of long-term debt | |||||||||||
0 | 947,500 | 297,600 | 397,000 | 0 | 0 | - | - | - | 297,500 | 0 | 297,700 |
Long-term debt repayments | |||||||||||
225,000 | 168,800 | 300,000 | 0 | 0 | - | - | - | - | 200,000 | 0 | 0 |
Proceeds from stock issuance, net | |||||||||||
- | - | - | - | - | - | - | - | - | - | 122,000 | 0 |
Commercial paper repayments | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 36,700 |
Issuance of short-term debt | |||||||||||
700 | 800 | 66,300 | 1,200 | 48,800 | 2,000 | 400 | 200 | 1,400 | 3,400 | 0 | 0 |
Payment of short-term debt | |||||||||||
800 | 38,000 | 1,700 | 51,500 | 2,000 | 800 | 100 | 3,100 | 0 | 1,700 | 0 | 0 |
Make whole payment for extinguishment of long-term debt | |||||||||||
0 | 0 | 9,900 | 0 | 0 | - | - | - | - | - | - | - |
Debt issuance cost | |||||||||||
0 | 7,600 | 3,000 | 3,600 | 0 | 0 | - | - | 1,100 | 2,700 | 0 | 2,700 |
Payment of dividends to shareholders | |||||||||||
186,600 | 172,300 | 157,600 | 144,000 | 133,700 | 121,200 | 109,500 | 122,300 | 90,100 | 85,600 | 78,900 | 76,900 |
Payment of dividends to noncontrolling interest | |||||||||||
11,300 | 3,900 | 3,500 | 2,800 | 5,000 | 1,700 | 1,500 | 1,300 | 900 | 1,100 | 400 | 0 |
Proceeds from exercise of stock options | |||||||||||
- | - | - | - | - | 2,400 | 2,400 | 24,800 | 21,900 | 49,300 | 5,700 | 8,100 |
Tax benefit on stock-based awards | |||||||||||
- | - | - | - | - | 9,200 | 8,400 | 15,600 | 8,200 | 9,700 | 1,300 | 800 |
Repurchase of common stock | |||||||||||
35,000 | 40,000 | 92,500 | 246,800 | 79,100 | 105,500 | 31,000 | 75,600 | 137,700 | 23,300 | 0 | 96,600 |
Payments for share reclassification | |||||||||||
- | - | - | - | 200,700 | 0 | 0 | - | - | - | - | - |
Other, net | |||||||||||
-13,000 | -11,200 | -10,000 | -8,900 | -7,300 | 0 | 0 | - | - | - | 100 | 0 |
Net cash (used) provided by financing activities | |||||||||||
-471,000 | 506,500 | -214,300 | -59,400 | -379,000 | -215,600 | -130,900 | -161,700 | -198,300 | 45,500 | 49,800 | 93,700 |
Effect of exchange rate changes on cash and cash equivalents | |||||||||||
1,300 | -8,200 | 18,300 | -27,300 | -21,200 | -20,100 | -4,100 | 4,100 | -1,300 | 5,200 | 5,900 | -5,800 |
Increase in cash and cash equivalents | |||||||||||
-7,000 | -186,000 | -62,600 | 94,100 | -310,400 | -86,800 | 95,700 | 75,400 | 48,900 | 262,200 | 80,300 | 100,700 |