| 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 | |||||||||||
460,268 | 339,781 | 295,665 | 405,031 | 419,247 | 414,543 | 353,544 | 254,134 | 266,866 | 263,557 | 195,526 | 229,628 |
Adjustments to reconcile to net cash provided by operating activities | |||||||||||
Depreciation and amortization | |||||||||||
323,330 | 173,792 | 117,967 | 102,469 | 89,597 | 89,354 | 83,227 | 76,667 | 75,327 | 79,242 | 78,525 | 75,986 |
Deferred income taxes | |||||||||||
-59,279 | 19,402 | 58,889 | 14,350 | 13,043 | 23,350 | -484 | -15,878 | 25,357 | -13,301 | -17,354 | 7,261 |
Losses (gains) on sale of assets | |||||||||||
-2,367 | 1,177 | 184 | 10,836 | 622 | 3,768 | 17,841 | 4,461 | 3,184 | 3,681 | 2,324 | 2,160 |
Stock-based compensation | |||||||||||
34,482 | 29,401 | 26,567 | 24,587 | 23,160 | 22,648 | 23,736 | 19,716 | 20,547 | 18,382 | 17,449 | 17,246 |
Loss on extinguishment of debt | |||||||||||
0 | -38,810 | 0 | 0 | - | - | - | - | - | - | - | - |
Gain on deal contingent derivatives | |||||||||||
0 | 12,505 | 0 | 0 | - | - | - | - | - | - | - | - |
Pension contributions | |||||||||||
23,714 | 22,433 | 39,298 | 46,347 | 67,897 | 43,982 | 52,897 | - | - | - | - | - |
Gain (Loss) Related to Litigation Settlement | |||||||||||
0 | 0 | 56,000 | 0 | 0 | - | - | - | - | - | - | - |
Product recall claim settlement, net of insurance proceeds received | |||||||||||
- | - | - | 0 | - | - | - | - | - | - | - | - |
Foreign currency gain on liquidation of entity | |||||||||||
0 | 0 | 12,217 | 0 | 0 | - | - | - | - | - | - | - |
Pension settlement/curtailment | |||||||||||
- | - | - | - | - | - | - | - | -3,583 | - | - | - |
Spanish tax charges | |||||||||||
- | - | - | - | - | - | - | 72,362 | 0 | - | - | - |
Payments pursuant to Spanish tax settlement | |||||||||||
- | - | - | - | - | - | - | 105,503 | 0 | - | - | - |
Changes in assets and liabilities, net of acquisitions: | |||||||||||
Trade receivables | |||||||||||
-59,555 | 49,958 | 68,851 | 21,544 | 91,712 | 2,635 | 53,156 | 33,056 | 35,697 | 12,143 | 27,380 | 34,368 |
Inventories | |||||||||||
62,129 | 117,641 | 18,911 | -15,452 | 37,628 | 40,042 | -4,822 | -4,571 | 25,199 | 86,250 | -47,090 | 19,736 |
Accounts payable | |||||||||||
55,464 | 55,136 | 29,114 | -7,642 | 89,273 | 19,403 | 21,313 | -740 | -5,859 | 39,973 | 43,780 | -30,585 |
Accruals for incentive compensation | |||||||||||
-22,357 | -2,289 | 19,144 | 12,133 | -17,399 | -30,947 | 24,518 | 34,632 | -49,964 | 45,709 | 7,719 | - |
Other current payables and accrued expenses | |||||||||||
5,488 | -5,279 | 22,679 | 49,103 | 29,124 | -30,982 | -1,244 | 29,203 | -45,491 | 31,135 | 5,177 | - |
Other assets | |||||||||||
66,650 | 19,219 | 3,866 | 1,067 | -47,635 | -64,605 | - | - | 22,428 | 49,786 | 61,375 | 25,825 |
Other liabilities | |||||||||||
-7,860 | 11,754 | 20,058 | 14,450 | -28,506 | 36,843 | - | - | -14,668 | 2,299 | 4,804 | 3,166 |
Other assets/liabilities, net | |||||||||||
- | - | - | - | - | - | -22,024 | 7,851 | - | - | - | - |
Net cash provided by operating activities | |||||||||||
698,965 | 437,575 | 390,756 | 550,139 | 467,315 | 518,390 | 407,562 | 323,796 | 189,190 | 315,136 | 291,637 | 220,613 |
Cash flows from investing activities: | |||||||||||
Cash paid for acquisitions, net of cash received | |||||||||||
49,065 | 4,857,343 | 192,328 | 236,836 | 493,424 | 102,500 | 0 | 0 | - | - | - | - |
Additions to property, plant and equipment | |||||||||||
235,978 | 170,094 | 128,973 | 126,412 | 101,030 | 143,182 | 134,157 | 126,140 | 127,457 | 106,301 | 66,819 | 85,395 |
Maturity of net investment hedges | |||||||||||
0 | 2,642 | -1,434 | -637 | -12,128 | -3,304 | -646 | -1,960 | 2,475 | -1,719 | 13,604 | - |
Purchase of life insurance contracts | |||||||||||
- | - | - | - | - | - | - | 1,127 | 1,936 | 3,858 | 2,249 | 7,198 |
Proceeds from life insurance contracts | |||||||||||
1,890 | 1,837 | 3,798 | 292 | 868 | 17,750 | 793 | 9,283 | 0 | - | - | - |
Additions to intangible assets | |||||||||||
6,070 | 3,326 | 0 | 0 | - | - | - | - | - | - | - | - |
Proceeds from disposal of assets | |||||||||||
42,112 | 8,176 | 16,139 | 6,856 | 4,302 | 3,295 | 27,312 | 1,763 | 705 | 1,657 | 1,784 | 2,848 |
Proceeds from disposal of subsidiaries, net of cash held | |||||||||||
0 | 10,157 | 0 | 0 | - | - | - | - | - | - | - | - |
Proceeds from unwinding of cross currency swap derivative instruments | |||||||||||
25,900 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Contingent consideration paid | |||||||||||
4,655 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Net cash used in investing activities | |||||||||||
-225,866 | -5,013,235 | -299,930 | -355,463 | -577,156 | -221,333 | -105,406 | -114,261 | -131,163 | -106,783 | -80,888 | -89,745 |
Cash flows from financing activities: | |||||||||||
Cash dividends paid to shareholders | |||||||||||
313,510 | 230,218 | 206,118 | 184,897 | 158,870 | 133,239 | 87,347 | 130,943 | 90,250 | 81,181 | 78,841 | 74,865 |
Increase in revolving credit facility and short term borrowings | |||||||||||
-1,021 | -927 | -4,499 | -131,074 | 138,036 | 8,332 | -283,225 | 138,756 | 92,662 | -103,190 | -37,292 | 2,902 |
Deferred financing costs | |||||||||||
0 | 33,668 | 5,373 | 5,788 | 0 | 1,023 | 2,800 | 0 | 0 | - | - | - |
Repayments on debt | |||||||||||
155,261 | 376,625 | 250,000 | 125,000 | 0 | 0 | 100,000 | 0 | 123,708 | - | 201,102 | 139,364 |
Proceeds from issuance of long-term debt | |||||||||||
0 | 3,256,742 | 498,250 | 555,559 | 0 | 3,609 | 297,786 | 0 | 0 | - | - | 139,167 |
Proceeds from sales of equity securities, net of issuance costs | |||||||||||
0 | 2,268,094 | 0 | 0 | - | - | - | - | - | - | - | - |
Contingent consideration paid | |||||||||||
24,478 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Gain (loss) on pre-issuance hedges | |||||||||||
0 | 12,505 | -5,310 | 3,244 | 0 | 0 | - | - | - | - | - | - |
Proceeds from issuance of stock in connection with stock options | |||||||||||
0 | 0 | 329 | 813 | 886 | 1,864 | 3,799 | 9,211 | 14,656 | 26,224 | 7,010 | 7,353 |
Employee withholding taxes paid | |||||||||||
-10,787 | -9,725 | -11,768 | -13,353 | -22,892 | 6,330 | 6,112 | 8,380 | 5,933 | 1,403 | - | 133 |
Purchase of treasury stock | |||||||||||
0 | 15,475 | 58,069 | 127,443 | 122,193 | 88,203 | 51,363 | 0 | 0 | - | 1,967 | 29,995 |
Net cash used in financing activities | |||||||||||
-505,057 | 4,870,703 | -42,558 | -34,427 | -165,033 | -202,330 | -217,038 | 25,404 | -100,707 | -156,744 | -312,192 | -94,669 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | |||||||||||
7,381 | -14,567 | -4,214 | -18,245 | -21,711 | -21,659 | -4,035 | 1,204 | -373 | -412 | 3,111 | -9,203 |
Net change in cash, cash equivalents and restricted cash | |||||||||||
-24,577 | 280,476 | 44,054 | 142,004 | -296,585 | 73,068 | 81,083 | 236,143 | -43,053 | 51,197 | -98,332 | 26,996 |
Supplemental Disclosures: | |||||||||||
Interest paid, net of amounts capitalized | |||||||||||
133,739 | 117,581 | 55,440 | 50,576 | 46,760 | 46,106 | 48,165 | 41,315 | 49,365 | 54,087 | 70,847 | 87,340 |
Income taxes paid | |||||||||||
126,172 | 116,138 | 107,390 | 107,898 | 102,734 | 92,087 | 138,940 | 184,592 | 87,785 | 70,807 | 58,055 | 50,280 |
Noncash investing activities: | |||||||||||
Accrued capital expenditures | |||||||||||
39,466 | 33,844 | 37,556 | 26,049 | 26,030 | 14,376 | 21,744 | 26,565 | 24,050 | 1,378 | - | - |