| 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 | |||||||||||
241,700 | 206,900 | 150,700 | 143,600 | 95,600 | 127,100 | 112,300 | 80,700 | 75,500 | 65,300 | 72,600 | 86,600 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation | |||||||||||
100,000 | 101,700 | 94,300 | 88,100 | 86,100 | 84,800 | 81,000 | 72,800 | 71,100 | 68,800 | 63,900 | 56,100 |
Amortization | |||||||||||
3,400 | 2,700 | 2,400 | 2,600 | 3,800 | 5,200 | 4,200 | 4,100 | 4,600 | 4,400 | 4,200 | 4,500 |
Loss on debt extinguishment | |||||||||||
- | - | - | - | - | - | -200 | -11,600 | 0 | 0 | - | - |
Stock-based compensation | |||||||||||
24,400 | 15,100 | 16,100 | 19,500 | 29,600 | 18,600 | 21,200 | 15,500 | 8,400 | 7,800 | 7,500 | 6,400 |
Pension settlement charge | |||||||||||
-3,500 | 0 | 0 | 2,100 | 0 | 0 | - | - | - | - | - | - |
Pension settlement charge | |||||||||||
- | - | - | - | -50,400 | 0 | 0 | - | - | - | - | - |
Non-cash restructuring charges | |||||||||||
2,300 | 2,200 | 700 | 17,500 | 0 | 0 | - | 6,200 | 0 | 4,400 | 5,800 | 0 |
Venezuela deconsolidation | |||||||||||
0 | 0 | -11,100 | 0 | 0 | - | - | - | - | - | - | - |
Contingent consideration payments in excess of acquisition-date liability | |||||||||||
500 | 600 | 0 | 0 | - | - | - | - | - | - | - | - |
Loss on sales of equipment | |||||||||||
-800 | -1,800 | -1,600 | -700 | -400 | -300 | -400 | -1,700 | 200 | -700 | -900 | 0 |
Deferred income taxes | |||||||||||
15,300 | 900 | 41,700 | 21,500 | -8,900 | 7,000 | 1,700 | 5,300 | 2,900 | -1,800 | -4,800 | 7,300 |
Pension and other retirement plans, net | |||||||||||
-2,600 | -7,900 | -6,900 | -6,500 | -28,800 | -25,000 | 8,000 | -2,700 | -4,500 | 5,400 | -5,900 | 4,900 |
Equity in undistributed earnings of affiliates, net of dividends | |||||||||||
6,700 | 5,900 | 7,000 | 6,800 | 5,000 | 4,500 | 4,800 | 4,500 | 6,000 | 4,200 | 2,700 | -700 |
Changes in assets/liabilities, net of acquisitions: | |||||||||||
Increase in accounts receivable | |||||||||||
33,300 | 43,800 | 39,700 | 23,300 | 14,100 | 6,300 | 9,100 | 25,700 | 25,500 | -9,400 | 6,000 | 1,900 |
Increase in inventories | |||||||||||
18,600 | 7,000 | 3,600 | 21,200 | 11,400 | 16,200 | 13,900 | 8,900 | 9,300 | 20,700 | 6,400 | -13,400 |
Decrease (increase) in other current assets | |||||||||||
-2,600 | 6,200 | -300 | 2,400 | 2,600 | 11,700 | 600 | -5,800 | 3,100 | 3,900 | 100 | -700 |
Increase in accounts payable | |||||||||||
25,300 | 400 | 12,600 | 6,100 | 17,200 | -3,500 | 4,600 | 5,800 | 24,600 | -300 | -700 | -3,300 |
Other non-cash items, net | |||||||||||
-9,600 | -28,300 | 11,000 | 17,900 | -100 | -7,100 | -15,300 | -19,700 | 7,800 | -3,000 | 2,400 | -14,600 |
Net cash provided by operating activities | |||||||||||
367,200 | 288,600 | 263,300 | 219,400 | 212,400 | 182,900 | 220,500 | 187,400 | 130,700 | 138,300 | 137,700 | 135,000 |
Cash flows from investing activities: | |||||||||||
Capital expenditures | |||||||||||
126,400 | 104,700 | 130,800 | 170,200 | 131,600 | 111,900 | 151,900 | 131,300 | 95,400 | 71,100 | 104,900 | 138,600 |
Purchase of investment in affiliated companies | |||||||||||
85,100 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Acquisition of business | |||||||||||
18,900 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Acquisition of patents and other long-term assets | |||||||||||
- | - | - | - | - | 200 | 3,900 | 700 | 1,400 | 2,700 | 2,900 | 500 |
Sales and maturities of short-term investments | |||||||||||
- | - | - | - | - | 16,800 | 19,100 | 45,600 | 15,600 | - | - | - |
Purchases of short-term investments | |||||||||||
- | - | - | - | - | 9,300 | 14,200 | 31,200 | 41,200 | - | - | - |
Purchase of cost-method investments | |||||||||||
- | - | - | 8,400 | 1,500 | 500 | - | - | - | - | - | - |
Cash related to deconsolidated Venezuelan subsidiary | |||||||||||
0 | 0 | 6,000 | 0 | 0 | - | - | - | - | - | - | - |
Acquisition of businesses, net of cash acquired | |||||||||||
- | - | - | - | - | - | - | - | - | 3,700 | 16,900 | 0 |
Sales of investments | |||||||||||
- | - | - | - | - | - | - | - | - | 8,900 | 5,300 | 16,800 |
Purchases of investments | |||||||||||
- | - | - | - | - | - | - | - | - | 7,200 | 2,700 | 0 |
Other, net | |||||||||||
-2,400 | -3,900 | -3,200 | -2,800 | -3,600 | -1,100 | -1,000 | -1,600 | -1,900 | -1,800 | -200 | -2,600 |
Net cash used in investing activities | |||||||||||
-228,000 | -100,800 | -133,600 | -175,800 | -129,500 | -104,000 | -149,900 | -116,000 | -120,500 | -74,000 | -121,900 | -119,700 |
Cash flows from financing activities: | |||||||||||
Borrowings under revolving credit agreements | |||||||||||
108,500 | 0 | 0 | - | 71,400 | 263,400 | 292,700 | 568,300 | 193,400 | 26,600 | 16,400 | 9,500 |
Repayments under revolving credit agreements | |||||||||||
- | - | - | - | 71,400 | 283,400 | 311,000 | 502,600 | 199,900 | 39,800 | 22,300 | 21,800 |
Repayments of Lines of Credit | |||||||||||
136,300 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Issuance of long-term debt | |||||||||||
90,000 | 0 | 0 | - | - | - | 43,200 | 168,100 | 200 | 0 | - | - |
Repayments of Long-term Debt | |||||||||||
100 | 100 | 34,900 | 69,800 | 27,400 | 2,300 | 30,500 | 215,900 | 700 | - | - | - |
Issuance of long-term debt | |||||||||||
1,200 | 0 | 0 | - | 1,000 | 0 | 0 | 7,500 | 300 | 1,700 | 0 | 0 |
Payment of long-term debt | |||||||||||
- | - | - | - | - | - | - | - | - | 0 | - | - |
Changes in other debt | |||||||||||
- | - | - | - | - | - | - | - | - | -1,100 | -4,300 | 3,100 |
Acquisition of noncontrolling interest | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 8,500 |
Dividend payments | |||||||||||
45,100 | 42,100 | 39,100 | 35,800 | 32,400 | 29,100 | 26,700 | 24,900 | 23,200 | 21,700 | 20,100 | 18,600 |
Contingent consideration payments up to amount of acquisition-date liability | |||||||||||
0 | 0 | -700 | -300 | -100 | -300 | -100 | - | - | - | - | - |
Proceeds from stock-based compensation awards | |||||||||||
25,100 | 27,400 | 35,700 | 25,900 | 12,700 | 14,300 | 21,700 | 8,700 | 3,900 | 3,700 | 5,000 | 6,200 |
Employee stock purchase plan contributions | |||||||||||
5,400 | 4,900 | 4,400 | 3,800 | 3,200 | 2,800 | 2,500 | 2,200 | 1,900 | - | - | - |
Excess tax benefit from employee stock plans | |||||||||||
- | - | - | 18,200 | 9,100 | 7,900 | 8,300 | 4,900 | 3,500 | 2,100 | 4,000 | 5,900 |
Shares purchased under share repurchase programs | |||||||||||
83,100 | 70,800 | 74,400 | 52,200 | 0 | 0 | - | - | - | 2,100 | 1,300 | 5,200 |
Shares repurchased for employee tax withholdings | |||||||||||
- | - | - | 3,700 | 5,600 | 4,100 | 5,200 | 4,700 | 3,500 | - | - | - |
Net cash used in financing activities | |||||||||||
-36,800 | -80,700 | -109,000 | -113,900 | -41,500 | -30,800 | -5,100 | -3,400 | -24,700 | -34,000 | -22,600 | -29,400 |
Effect of exchange rates on cash | |||||||||||
-700 | -5,600 | 12,200 | -1,300 | -22,100 | -22,800 | 2,600 | 2,100 | -3,900 | -3,200 | 2,700 | -7,100 |
Net decrease in cash and cash equivalents | |||||||||||
101,700 | 101,500 | 32,900 | -71,600 | 19,300 | 25,300 | 68,100 | 70,100 | -18,400 | 27,100 | -4,100 | -21,200 |
Supplemental cash flow information: | |||||||||||
Interest paid, net of amounts capitalized | |||||||||||
8,600 | 8,400 | 8,000 | 8,600 | 14,700 | 16,700 | 16,900 | 15,300 | 18,200 | 16,800 | 15,500 | 15,900 |
Income taxes paid, net | |||||||||||
47,500 | 42,000 | 31,000 | 48,100 | 33,100 | 37,400 | 34,400 | 16,100 | 20,400 | 16,500 | 19,000 | 25,000 |
Accrued capital expenditures | |||||||||||
17,000 | 15,000 | 20,100 | 22,700 | 25,000 | 21,000 | 17,100 | 54,300 | 33,800 | 7,100 | 9,900 | 9,800 |
Purchase of investment in affiliated companies, treasury stock | |||||||||||
4,900 | 0 | 0 | - | - | - | - | - | - | - | - | - |