| 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 | |||||||||||
128,900 | 200,300 | -700 | 87,500 | 123,200 | 133,900 | 101,000 | 80,800 | 123,300 | 104,500 | 61,912 | 95,821 |
Adjustments to reconcile net earnings to net cash used in operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
32,700 | 31,500 | 37,200 | 43,500 | 48,700 | 53,300 | 56,200 | 27,700 | 15,900 | - | - | - |
Depreciation | |||||||||||
- | - | - | - | - | - | - | - | - | 14,500 | 15,932 | 18,460 |
Amortization | |||||||||||
- | - | - | - | - | - | - | - | - | 1,700 | 1,689 | 2,236 |
Deferred income taxes | |||||||||||
-9,000 | 22,100 | -75,800 | -5,800 | -26,700 | -19,100 | -27,800 | -4,200 | 7,700 | -4,300 | -7,845 | -43 |
Stock-based compensation expense | |||||||||||
24,500 | 31,200 | 25,400 | 22,800 | 18,700 | 25,100 | 28,200 | 15,000 | 14,100 | 11,500 | 8,943 | 8,164 |
Excess tax benefits from stock-based compensation | |||||||||||
- | - | - | 600 | 4,900 | 5,600 | 3,400 | 9,900 | 3,300 | 1,400 | 462 | 1,610 |
Pension contribution | |||||||||||
0 | 60,700 | 11,300 | 1,500 | 0 | 3,900 | 2,400 | 26,700 | 31,800 | 10,400 | 2,600 | - |
Pension and SERP expense | |||||||||||
5,600 | 11,800 | 14,900 | 10,400 | 27,900 | 11,900 | 37,300 | 27,900 | 17,500 | 16,300 | 15,891 | 6,325 |
Debt extinguishment costs | |||||||||||
0 | -600 | 0 | -17,400 | -1,600 | -1,300 | -13,100 | 0 | 0 | - | - | - |
Restructuring and other related costs | |||||||||||
0 | 0 | 81,900 | 43,200 | 32,500 | 27,000 | 8,300 | 0 | 0 | 4,200 | 35,596 | - |
Cash payments related to restructuring costs | |||||||||||
300 | 5,100 | 64,800 | 19,400 | 10,300 | 7,700 | 1,400 | 0 | 1,000 | 7,500 | 20,653 | - |
Impairment of intangible assets | |||||||||||
0 | 0 | 68,600 | 7,100 | 5,100 | - | - | - | - | - | - | - |
Environmental and other related costs, net of cash payments and recoveries received | |||||||||||
48,800 | -6,100 | 32,300 | 0 | 0 | - | - | - | - | - | - | - |
Net loss on sale of assets | |||||||||||
0 | -300 | 7,000 | 0 | 0 | - | - | - | - | - | - | - |
Other | |||||||||||
11,300 | -9,500 | 11,300 | 6,300 | 2,000 | -11,500 | 4,300 | -4,800 | -11,300 | -3,500 | 7,929 | 13,966 |
Changes in operating assets and liabilities: | |||||||||||
Accounts receivable | |||||||||||
-30,700 | 95,000 | 2,700 | -32,300 | -5,800 | -76,500 | 41,300 | -15,100 | 24,800 | 32,500 | -9,817 | -3,419 |
Inventories | |||||||||||
23,800 | 44,500 | -45,400 | -110,000 | 68,800 | -2,900 | -35,100 | 29,400 | 25,100 | 49,100 | -44,500 | 39,201 |
Other operating assets | |||||||||||
5,400 | 17,800 | -300 | -2,300 | -14,600 | 17,800 | -12,800 | 17,100 | 21,600 | 1,000 | -3,103 | 386 |
Accounts payable | |||||||||||
0 | 40,600 | 11,200 | -50,400 | 52,900 | 16,200 | -26,500 | 5,900 | -7,100 | 21,700 | -7,326 | -5,064 |
Income taxes payable | |||||||||||
3,600 | -1,900 | 46,100 | 1,000 | -1,200 | - | - | - | 100 | -11,900 | 12,817 | -2,094 |
Other operating liabilities | |||||||||||
-2,400 | -19,300 | 13,000 | 2,800 | -1,600 | 9,100 | 17,400 | 1,700 | 3,600 | 8,100 | 5,224 | -6,523 |
Net cash used in operating activities | |||||||||||
222,600 | 97,500 | 202,700 | 296,300 | 215,500 | 314,600 | 202,300 | 91,600 | 78,800 | 67,900 | 168,609 | 93,470 |
INVESTING ACTIVITIES | |||||||||||
Business acquisition, net of cash acquired | |||||||||||
15,100 | 0 | 0 | - | - | - | - | 1,225,900 | 0 | - | 7,954 | - |
Additions to property, plant and equipment | |||||||||||
34,400 | 21,700 | 32,400 | 55,300 | 46,400 | 30,000 | 41,700 | 14,900 | 19,400 | 16,400 | 11,670 | 24,126 |
Proceeds from sale of assets | |||||||||||
0 | 2,200 | 38,600 | 7,800 | 0 | 0 | 2,800 | 0 | 100 | 1,800 | - | 849 |
Investment in joint ventures | |||||||||||
8,500 | 0 | 2,100 | 500 | 0 | 1,100 | 2,500 | 2,900 | 0 | - | - | - |
Other | |||||||||||
3,500 | 2,700 | 5,100 | -9,600 | 3,600 | 3,700 | 3,300 | 2,400 | 3,300 | 2,500 | 2,679 | 4,982 |
Net cash used in investing activities | |||||||||||
-61,500 | -22,200 | -1,000 | -38,400 | -50,000 | -34,800 | -44,700 | -1,246,100 | -22,600 | -17,100 | -22,303 | -28,259 |
FINANCING ACTIVITIES | |||||||||||
Net borrowings under revolving credit agreements | |||||||||||
235,000 | 124,500 | -2,600 | 3,100 | 0 | 0 | - | -11,000 | 11,000 | - | -59,500 | 59,500 |
Borrowings of long-term debt | |||||||||||
0 | 200,000 | 0 | 400,000 | 450,000 | 0 | 775,000 | 1,275,000 | 0 | - | - | - |
Payments on long-term debt | |||||||||||
7,500 | 538,200 | 37,500 | 393,800 | 530,900 | 249,800 | 875,000 | 25,500 | 500 | 500 | - | 10,714 |
Payments of debt issuance costs | |||||||||||
300 | 2,700 | 100 | 17,900 | 2,400 | 0 | 2,300 | 40,100 | 0 | - | - | - |
Payments of capital lease obligations | |||||||||||
- | - | - | - | - | - | - | - | - | - | 5 | 12 |
Cash dividends paid | |||||||||||
33,600 | 28,600 | 23,000 | 23,500 | 24,400 | 24,000 | 23,700 | 23,600 | 22,700 | 21,400 | 21,502 | 20,758 |
Purchase of common stock for treasury | |||||||||||
319,200 | 174,700 | 51,500 | 52,700 | 92,600 | 0 | 0 | 2,400 | 67,500 | 52,200 | 6,566 | 76,129 |
Employee taxes paid under stock-based compensation plans | |||||||||||
- | - | - | 4,900 | 7,700 | 10,500 | 800 | 11,700 | - | - | - | - |
Proceeds from the exercise of stock options | |||||||||||
12,200 | 24,000 | 21,400 | 7,400 | 13,300 | 7,300 | 8,600 | 11,600 | 14,100 | 13,600 | 7,867 | 7,047 |
Excess tax benefits from stock-based compensation | |||||||||||
- | - | - | 600 | 4,900 | 5,600 | 3,400 | 9,900 | 3,300 | 1,400 | 462 | 1,610 |
Contributions from noncontrolling interests | |||||||||||
5,700 | 0 | 800 | 2,200 | 2,500 | 1,000 | 2,000 | 1,200 | 0 | - | - | - |
Net cash provided by financing activities | |||||||||||
-124,600 | -404,500 | -98,000 | -79,500 | -187,300 | -270,400 | -112,800 | 1,183,400 | -62,300 | -59,100 | -79,244 | -39,456 |
Effect of foreign exchange rate changes | |||||||||||
1,000 | -8,700 | 7,500 | -2,700 | -7,900 | 200 | -2,000 | 2,500 | -4,300 | -1,700 | 3,875 | -12,340 |
Increase (decrease) in cash and cash equivalents | |||||||||||
37,500 | -337,900 | 111,200 | 175,700 | -29,700 | 9,600 | 42,800 | 31,400 | -10,400 | -10,000 | 70,937 | 13,415 |
OTHER CASH FLOW INFORMATION | |||||||||||
Interest paid | |||||||||||
32,400 | 29,000 | 31,500 | 33,700 | 34,900 | 42,200 | 48,800 | 10,000 | 800 | 200 | 486 | 2,365 |
Net income taxes paid | |||||||||||
23,200 | 17,400 | 23,600 | 35,400 | 49,800 | 70,200 | 33,500 | 16,300 | 30,000 | 30,600 | 7,297 | 35,995 |
Noncash Investing and Financing Items [Abstract] | |||||||||||
Additions to property, plant and equipment not yet paid | |||||||||||
800 | 1,300 | 800 | 1,700 | 0 | 0 | - | - | - | - | - | - |
Business acquisition not yet paid | |||||||||||
5,500 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Purchase of common stock for treasury not yet paid | |||||||||||
- | - | - | 9,200 | 0 | 0 | - | - | - | - | - | - |