| 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 income | ||||||||||||
1,541,300 | 1,108,700 | 1,727,900 | 1,132,700 | 1,053,849 | 865,887 | 752,561 | 631,034 | 441,860 | 462,485 | 435,848 | 476,876 | 615,578 |
Adjustments to reconcile net income to net operating cash: | ||||||||||||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ||||||||||||
- | - | -41,600 | - | 0 | - | - | - | - | - | - | - | - |
Depreciation | ||||||||||||
262,100 | 278,200 | 285,000 | 172,000 | 170,323 | 169,087 | 158,763 | 152,217 | 151,212 | 140,347 | 145,186 | 143,191 | 139,010 |
Non-cash lease expense | ||||||||||||
370,800 | - | - | - | - | - | - | - | - | - | - | - | - |
Amortization of intangible assets | ||||||||||||
312,800 | 318,100 | 206,800 | 25,404 | 28,237 | 29,858 | 29,031 | 26,985 | 29,692 | 34,964 | 25,718 | 22,320 | 24,469 |
Amortization of inventory purchase accounting adjustments | ||||||||||||
- | - | 113,800 | - | 0 | - | - | - | - | - | - | - | - |
Gain (Loss) on Extinguishment of Debt | ||||||||||||
-14,800 | - | - | - | - | - | - | - | - | - | - | - | - |
Impairment of trademarks | ||||||||||||
122,100 | - | 2,000 | - | - | - | - | - | - | - | - | - | - |
Impairment of goodwill and trademarks | ||||||||||||
- | - | - | 10,688 | 0 | - | - | 4,086 | 5,492 | 4,484 | 14,144 | 54,604 | 16,123 |
Amortization of credit facility and debt issuance costs | ||||||||||||
9,200 | 12,100 | 8,300 | 63,759 | 3,096 | 3,224 | - | - | - | - | - | - | - |
Income tax effect of ESOP on other capital | ||||||||||||
- | - | - | - | - | - | - | - | 3,211 | -7,515 | -13,411 | 30,628 | 21,937 |
Stock-based compensation expense | ||||||||||||
101,700 | 82,600 | 90,300 | 72,109 | 72,342 | 64,735 | 58,004 | 54,348 | 48,176 | 42,276 | 23,271 | 41,114 | 35,355 |
Loss on dissolution of a foreign subsidiary | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 21,923 | - | - |
Environmental Remediation Expense | ||||||||||||
23,000 | 176,300 | 15,400 | 42,932 | 31,071 | 36,046 | -2,751 | 6,736 | 9,100 | 7,089 | 24,705 | 6,947 | 28,391 |
Defined benefit pension plans net cost | ||||||||||||
43,100 | 36,400 | 18,200 | 14,851 | 6,491 | 990 | 20,641 | 20,309 | 12,326 | 18,104 | 31,367 | -8,171 | -6,605 |
Provisions for qualified exit costs | ||||||||||||
8,800 | 14,900 | 50,500 | 3,038 | 9,761 | 13,578 | 4,682 | 2,734 | 534 | -3,811 | 21,832 | 12,081 | 2,508 |
Deferred income taxes | ||||||||||||
-131,100 | -143,400 | -620,700 | -68,241 | 4,976 | -19,038 | 27,775 | -10,422 | 16,913 | 20,070 | -8,605 | 30,365 | 32,984 |
Net decrease in postretirement liability | ||||||||||||
-14,400 | -15,900 | -17,900 | -12,373 | -6,645 | -718 | 5,233 | 3,666 | 6,793 | 4,627 | 1,103 | 2,223 | 6,237 |
Decrease in non-traded investments | ||||||||||||
82,300 | 72,500 | 65,700 | 64,689 | 65,144 | 63,365 | 57,261 | 72,861 | 62,540 | 53,407 | 42,805 | 44,480 | 40,696 |
Loss on sale or disposition of assets | ||||||||||||
-16,100 | -12,800 | -5,500 | 30,564 | 803 | -1,436 | -5,207 | -3,454 | 5,469 | -2,720 | -972 | -6,440 | -10,422 |
Other | ||||||||||||
-15,800 | 13,800 | -1,100 | -5,334 | -3,617 | 3,021 | 27,214 | 18,349 | -3,137 | -3,330 | 436 | 8,760 | 3,169 |
Other | ||||||||||||
-18,800 | 46,700 | -16,300 | -56,215 | 955 | 20,029 | -43,804 | -11,000 | - | - | - | -1,165 | -4,750 |
Change in working capital accounts: | ||||||||||||
(Increase) decrease in accounts receivable | ||||||||||||
73,200 | -18,400 | 49,900 | 113,855 | 56,873 | 80,252 | 41,473 | 33,578 | 93,697 | 111,113 | -108,190 | -68,494 | 58,783 |
(Increase) in inventories | ||||||||||||
75,500 | 119,500 | 90,000 | 52,577 | 40,733 | 101,112 | -25,031 | -19,929 | 19,222 | 82,060 | -145,867 | 2,472 | 5,117 |
Increase in accounts payable | ||||||||||||
36,200 | 113,800 | 166,700 | -118,893 | 160,111 | 78,603 | 34,685 | -51,124 | 64,053 | 155,116 | -82,607 | 16,349 | -68,889 |
Increase (decrease) in accrued taxes | ||||||||||||
5,100 | 2,700 | -20,900 | -2,159 | 4,606 | 13,187 | 11,314 | -70,264 | 5,435 | -19,410 | 11,836 | -5,778 | 6,351 |
Increase in accrued compensation and taxes withheld | ||||||||||||
49,600 | 4,600 | 11,300 | 60,632 | -13,128 | 29,513 | 24,435 | 63,697 | -538 | 75,210 | -21,579 | -25,610 | -19,795 |
(Increase) decrease in refundable income taxes | ||||||||||||
47,800 | -20,100 | 15,500 | 1,343 | -19,230 | 36,601 | -13,244 | 32,967 | 572 | -16,059 | 2,267 | -5,119 | -14,551 |
(Decrease) increase in California litigation accrual | ||||||||||||
59,600 | -136,300 | - | - | - | - | - | - | - | - | - | - | - |
DOL settlement accrual | ||||||||||||
- | - | - | - | - | - | -80,000 | 80,000 | - | - | - | - | - |
Change in operating lease liabilities | ||||||||||||
-368,400 | - | - | - | - | - | - | - | - | - | - | - | - |
Other | ||||||||||||
- | - | - | - | - | - | - | - | 36,249 | -78,910 | -12,767 | -24,880 | -29,942 |
Costs incurred for environmental-related matters | ||||||||||||
26,100 | 17,700 | 13,800 | 15,178 | 11,995 | 9,676 | 12,539 | 31,689 | 30,451 | 30,880 | 36,986 | 22,369 | 14,486 |
Costs incurred for qualified exit costs | ||||||||||||
12,800 | 21,200 | 45,400 | 6,267 | 11,200 | 10,882 | 7,419 | 4,577 | 6,181 | 11,275 | 12,322 | -5,643 | -2,223 |
Other | ||||||||||||
96,600 | -86,600 | -68,300 | 5,594 | -43,059 | -6,652 | -16,509 | -12,200 | 1,641 | 11,276 | -4,601 | - | - |
Net operating cash | ||||||||||||
2,321,300 | 1,943,700 | 1,884,000 | 1,308,572 | 1,447,463 | 1,081,528 | 1,083,766 | 887,886 | 735,812 | 706,590 | 859,186 | 876,233 | 874,545 |
INVESTING ACTIVITIES | ||||||||||||
Capital expenditures | ||||||||||||
328,900 | 251,000 | 222,800 | 239,000 | 234,340 | 200,545 | 166,680 | 157,112 | 153,801 | 125,162 | 91,328 | 117,203 | 165,870 |
Acquisitions of businesses, net of cash acquired | ||||||||||||
77,300 | - | 8,810,300 | - | 0 | - | 79,940 | 99,242 | 44,436 | 298,161 | 15,440 | 68,688 | 282,416 |
Decrease in short-term investments | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | -21,200 |
Proceeds from sale of assets | ||||||||||||
6,900 | 38,400 | 47,200 | 38,434 | 11,300 | 1,516 | -3,045 | -9,677 | 12,842 | 8,335 | 5,599 | 11,130 | 23,824 |
Decrease (increase) in other investments | ||||||||||||
63,300 | 39,000 | 61,500 | 103,182 | 65,593 | 111,021 | 94,739 | 95,778 | 92,374 | 74,961 | 29,230 | 62,067 | 53,354 |
Net investing cash | ||||||||||||
-462,600 | -251,600 | -9,047,400 | -303,774 | -288,633 | -310,050 | -338,314 | -342,455 | -277,769 | -489,949 | -130,399 | -236,828 | -456,616 |
FINANCING ACTIVITIES | ||||||||||||
Net (decrease) increase in short-term borrowings | ||||||||||||
122,800 | 300,900 | 356,300 | -899 | -630,226 | 591,423 | 31,634 | -284,839 | -43,346 | 357,835 | -494,989 | -136,793 | 270,676 |
Proceeds from long-term debt | ||||||||||||
1,332,800 | - | 8,275,200 | 500 | 797,514 | 1,474 | 473 | 999,697 | 40,777 | 14,798 | 491,736 | 19,721 | -198,667 |
Payments of long-term debt | ||||||||||||
1,875,800 | 852,600 | 1,852,800 | 1,111 | 0 | 500,661 | 10,932 | 14,000 | 49,881 | 159,422 | 20,094 | 6,336 | - |
Payments for credit facility and debt issuance costs | ||||||||||||
13,600 | 5,200 | 49,400 | 65,119 | - | - | - | - | - | - | - | - | - |
Costs associated with repurchase of long-term debt | ||||||||||||
- | - | - | - | - | - | - | - | - | 22,192 | - | - | - |
Payments of cash dividends | ||||||||||||
420,800 | 322,900 | 319,000 | 312,082 | 249,647 | 215,263 | 204,978 | 160,939 | 153,512 | 156,424 | 162,561 | 165,111 | 162,301 |
Proceeds from stock options exercised | ||||||||||||
154,600 | 90,700 | 143,600 | 86,831 | 89,990 | 100,069 | 69,761 | 221,126 | 69,536 | 102,209 | 36,596 | 37,475 | 71,281 |
Income tax effect of stock-based compensation exercises and vesting | ||||||||||||
- | - | - | - | 89,691 | 68,657 | 47,527 | 104,858 | 12,958 | 19,676 | 7,645 | 11,897 | 24,176 |
Treasury stock purchased | ||||||||||||
778,800 | 613,300 | - | - | 1,035,291 | 1,488,663 | 769,271 | 557,766 | 367,372 | 375,677 | 530,363 | 392,702 | 863,139 |
Proceeds from real estate financing transactions | ||||||||||||
7,200 | 225,300 | - | - | - | - | - | - | - | - | - | - | - |
Other | ||||||||||||
-129,200 | 32,200 | -39,800 | -15,473 | -42,384 | -24,111 | -17,522 | -21,559 | 15,631 | -4,371 | -10,800 | -6,061 | -8,643 |
Net financing cash | ||||||||||||
-1,846,400 | -1,746,700 | 6,514,100 | -307,353 | -980,353 | -1,467,075 | -853,308 | 286,578 | -475,209 | -223,568 | -682,830 | -637,910 | -866,617 |
Effect of exchange rate changes on cash | ||||||||||||
-6,000 | 5,900 | -36,300 | -13,396 | -13,465 | -8,560 | -9,845 | -2,115 | -8,723 | -3,817 | -2,840 | -2,608 | 6,843 |
Net increase (decrease) in cash and cash equivalents | ||||||||||||
6,300 | -48,700 | -685,600 | 684,049 | 165,012 | -704,157 | -117,701 | 829,894 | -25,889 | -10,744 | 43,117 | -1,113 | -441,845 |
Income taxes paid | ||||||||||||
407,500 | 292,200 | 419,700 | 477,786 | 335,119 | 310,039 | 200,748 | 223,329 | 196,147 | 137,872 | 146,385 | 109,408 | 186,737 |
Interest paid | ||||||||||||
336,100 | 368,000 | 220,600 | 153,850 | 48,644 | 67,306 | 61,045 | 41,551 | 42,897 | 78,747 | 41,106 | 64,929 | 75,260 |