| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | |||||||||||
Net earnings | |||||||||||
333,900 | 306,100 | 292,700 | 386,200 | 329,200 | 101,200 | 199,700 | 250,500 | 156,400 | 182,800 | 115,000 | 109,000 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||||||
Depreciation | |||||||||||
117,500 | 104,300 | 95,300 | 86,800 | 83,500 | 89,900 | 90,100 | 90,400 | 98,100 | 103,000 | 109,600 | 115,900 |
Amortization of intangibles and supply agreements | |||||||||||
74,400 | 31,800 | 30,600 | 28,600 | 29,700 | 28,000 | 32,500 | 28,600 | 18,800 | 19,800 | 20,700 | 24,500 |
Impairments | |||||||||||
7,800 | 5,400 | 4,900 | 4,100 | - | - | - | - | - | - | - | - |
Impairments | |||||||||||
- | - | - | - | 2,400 | 1,300 | 2,400 | 1,700 | 34,900 | 2,400 | 2,800 | 19,200 |
Goodwill impairment | |||||||||||
- | - | - | - | 4,100 | 108,000 | 63,000 | 0 | 0 | - | 3,000 | 25,600 |
Provision for losses on accounts and notes receivable | |||||||||||
2,800 | 16,700 | 800 | 1,600 | 2,600 | 4,900 | 6,100 | 4,900 | 8,600 | 6,900 | 29,500 | 23,400 |
Writedown of inventories | |||||||||||
9,000 | 10,300 | 4,900 | 8,900 | 9,800 | 10,000 | 11,800 | 10,200 | 10,400 | 12,600 | 16,200 | 27,100 |
Net gain from sales of assets and businesses | |||||||||||
5,000 | 2,100 | 24,400 | 38,500 | 3,700 | -4,200 | 8,600 | 3,300 | 10,900 | 11,600 | 3,000 | -2,300 |
Deemed repatriation tax payable | |||||||||||
0 | -1,300 | 67,300 | 0 | 0 | - | - | - | - | - | - | - |
Bargain purchase gain from acquisition | |||||||||||
- | - | - | - | - | - | 8,800 | 0 | 0 | - | - | - |
Deferred income tax (benefit) expense | |||||||||||
-7,600 | 3,200 | -16,600 | -17,600 | -24,100 | 39,800 | 32,900 | 21,900 | 1,100 | -30,200 | -44,000 | 25,500 |
Stock-based compensation | |||||||||||
33,000 | 35,500 | 36,600 | 37,100 | 45,200 | 41,600 | 36,300 | 33,800 | 35,300 | 37,600 | 38,000 | 41,600 |
Tax benefits from stock-based compensation payments | |||||||||||
- | - | - | - | 15,700 | 10,600 | 6,600 | 6,700 | - | - | - | - |
Pension expense (benefit), net of contributions | |||||||||||
4,300 | -19,200 | 7,100 | -2,200 | 15,600 | -1,000 | 4,500 | - | - | - | - | - |
Other, net | |||||||||||
-2,200 | -2,000 | 8,500 | -7,300 | -3,100 | 9,400 | -1,000 | -4,100 | 7,800 | 3,700 | 3,900 | -10,700 |
Increases/decreases in, excluding effects from acquisitions and divestitures: | |||||||||||
Accounts and other receivables | |||||||||||
-53,000 | 25,800 | 40,600 | -3,400 | 16,400 | 97,700 | 13,300 | -60,600 | 29,500 | 34,700 | -105,700 | -36,500 |
Inventories | |||||||||||
-53,300 | 54,300 | 48,100 | 33,300 | 49,100 | 21,900 | 4,100 | 39,100 | 16,300 | 31,200 | -87,600 | -49,900 |
Other current assets | |||||||||||
2,800 | 1,900 | 36,800 | 2,100 | 400 | -1,400 | 1,000 | 2,900 | 1,700 | -21,600 | -1,400 | -9,500 |
Accounts payable | |||||||||||
-39,400 | 36,200 | 58,800 | 50,800 | -54,300 | 47,500 | 35,000 | 27,400 | 29,400 | 24,900 | 18,400 | -46,800 |
Accrued expenses and other current liabilities | |||||||||||
16,400 | -200 | -13,500 | -3,700 | -50,600 | 124,300 | 9,800 | 11,400 | 4,300 | 1,900 | -27,500 | -16,300 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | |||||||||||
668,000 | 440,300 | 443,700 | 552,600 | 359,100 | 381,900 | 416,900 | 449,700 | 328,900 | 362,500 | 565,300 | 436,200 |
INVESTING ACTIVITIES | |||||||||||
Additions to property, plant and equipment | |||||||||||
143,100 | 159,600 | 159,400 | 124,000 | 103,200 | 94,100 | 80,600 | 71,000 | 75,000 | 67,700 | 83,000 | 118,300 |
Purchases of companies, net of cash acquired | |||||||||||
1,265,100 | 109,200 | 39,100 | 29,500 | 11,100 | 70,400 | 27,900 | 211,600 | 6,600 | 4,900 | 2,800 | 10,300 |
Proceeds from sales of assets and businesses | |||||||||||
5,500 | 4,900 | 45,200 | 86,100 | 51,400 | 76,500 | 18,900 | 15,800 | 26,800 | 28,900 | 14,100 | 407,600 |
Advance of non-trade note receivable | |||||||||||
- | - | - | 24,600 | 0 | 0 | - | - | - | - | - | - |
Maturity of short-term investments with original maturities greater than three months | |||||||||||
- | - | - | - | - | - | - | - | -22,800 | 21,500 | -1,300 | - |
Liquidation of unconsolidated entity | |||||||||||
- | - | - | - | - | - | -21,200 | 22,400 | 0 | - | - | - |
Investment in unconsolidated entity | |||||||||||
- | - | - | - | - | - | - | - | - | 0 | - | - |
Other, net | |||||||||||
15,500 | 13,900 | 11,700 | 10,000 | 6,700 | 14,700 | 6,900 | 4,800 | 4,600 | -100 | -500 | 15,700 |
NET CASH USED FOR INVESTING ACTIVITIES | |||||||||||
-1,418,200 | -277,800 | -165,000 | -102,000 | -69,600 | -102,700 | -75,300 | -294,000 | -36,600 | -65,100 | -72,500 | 263,300 |
FINANCING ACTIVITIES | |||||||||||
Additions to long-term debt | |||||||||||
993,300 | 0 | 493,400 | 400 | 400 | 299,300 | 0 | 299,200 | 200 | 0 | 57,900 | 248,000 |
Payments on long-term debt | |||||||||||
37,600 | 155,400 | 9,200 | 5,400 | 205,000 | 188,100 | 203,700 | 11,800 | 3,600 | 13,500 | 122,100 | 523,800 |
Change in commercial paper and short-term debt | |||||||||||
-8,700 | 69,600 | -202,700 | 11,500 | 201,300 | -24,200 | 23,300 | -85,800 | 68,500 | -32,300 | - | - |
Dividends paid | |||||||||||
204,600 | 193,700 | 185,600 | 177,400 | 171,600 | 167,500 | 124,900 | 199,500 | 155,900 | 154,900 | 157,200 | 165,100 |
Issuances of common stock | |||||||||||
9,300 | 4,800 | 2,600 | 4,900 | 8,300 | 21,800 | 36,900 | 35,600 | 20,500 | 23,800 | 4,000 | 5,900 |
Purchases of common stock | |||||||||||
16,400 | 112,400 | 157,600 | 198,000 | 191,500 | 149,700 | 169,400 | 30,000 | 225,300 | 130,100 | 192,000 | 296,500 |
Purchase of remaining interest in noncontrolling interest | |||||||||||
0 | 0 | 2,600 | 35,200 | 0 | 0 | - | - | - | - | - | - |
Additional consideration paid for acquisitions | |||||||||||
1,100 | 9,300 | 2,200 | 500 | - | - | - | - | - | - | - | - |
Liquidation of interest rate swap agreement | |||||||||||
- | - | - | - | - | - | - | 42,700 | 0 | 0 | - | - |
Acquisition of noncontrolling interest | |||||||||||
- | - | - | - | - | - | - | - | 13,600 | 7,600 | - | - |
Tax benefits from stock-based compensation payments | |||||||||||
- | - | - | - | 15,700 | 10,600 | 6,600 | 6,700 | 7,200 | 3,900 | 1,200 | - |
Other, net | |||||||||||
-3,100 | -500 | -600 | -2,500 | -6,800 | -5,800 | -3,100 | -8,300 | -1,600 | -2,900 | -500 | -2,000 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | |||||||||||
731,100 | -396,900 | -64,500 | -402,200 | -349,200 | -203,600 | -434,300 | -36,600 | -303,600 | -313,600 | -408,700 | -733,500 |
EFFECT OF EXCHANGE RATE CHANGES ON CASH | |||||||||||
-1,400 | -23,600 | 30,000 | -19,700 | -19,900 | -15,500 | 6,300 | 3,700 | 3,100 | 200 | 11,700 | -6,700 |
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |||||||||||
-20,500 | -258,000 | 244,200 | 28,700 | -79,600 | 60,100 | -86,400 | 122,800 | -8,200 | -16,000 | 95,800 | -40,700 |
Supplemental Information | |||||||||||
Interest paid (net of amounts capitalized) | |||||||||||
77,300 | 61,800 | 40,100 | 37,500 | 43,600 | 40,100 | 45,200 | 38,200 | 37,300 | 37,200 | 37,800 | 49,700 |
Income taxes paid | |||||||||||
84,200 | 92,800 | 90,600 | 112,300 | 91,600 | 84,600 | 71,100 | 76,300 | 48,800 | 62,700 | 44,700 | 51,600 |
Common stock issued for acquired companies | |||||||||||
0 | 0 | 11,800 | 0 | 0 | - | - | - | - | - | - | - |
Property, plant and equipment acquired through finance leases | |||||||||||
2,100 | 1,900 | 2,400 | 4,700 | 1,600 | 3,700 | 1,100 | 2,400 | 4,300 | 3,000 | 2,300 | - |
Capital expenditures in accounts payable | |||||||||||
6,800 | 6,700 | 6,700 | 5,100 | 2,500 | 3,800 | - | - | - | - | - | - |
Prepaid income taxes and taxes receivable (recovered) applied against the deemed repatriation tax liability | |||||||||||
-600 | 28,400 | 0 | 0 | - | - | - | - | - | - | - | - |
Long-term notes received for divestitures | |||||||||||
- | - | - | - | - | - | - | - | - | 7,100 | 200 | - |