Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2017
Oct. 01, 2016
Sep. 30, 2017
Oct. 01, 2016
Dec. 31, 2016
Sep. 30, 2017
Dec. 31, 2016
Oct. 01, 2016
Operating activities                
Net income $ 386,140 $ 498,489 $ 705,192 $ 809,773        
Adjustments to reconcile net income to cash provided by operating activities:                
Impairment of goodwill 104,651 0 104,651 0        
Depreciation and amortization     207,590 205,491        
Stock-based compensation     57,709 54,933        
Provision for doubtful accounts     11,396 16,193        
Pension expense in excess of contributions     17,601 33,866        
Loss on sale of businesses     4,936 104,357        
Other, net     15,187 22,466        
Changes in operating assets and liabilities:                
Accounts receivable     (625,574) (501,186)        
Inventories     (390,419) (443,115)        
Accounts payable     (111,276) (116,800)        
Income taxes     (77,125) (141,262)        
Accrued liabilities     126,247 56,055        
Other assets and liabilities     (39,432) (53,574)        
Cash provided by operating activities     6,683 47,197        
Investing activities                
Proceeds from sale of businesses, net of cash sold     213,494 115,983        
Capital expenditures     (124,393) (129,947)        
Software purchases     (53,451) (31,843)        
Other, net     (10,558) (4,997)        
Cash provided (used) by investing activities     25,092 (50,804)        
Financing activities                
Net increase in short-term borrowings     1,959,335 287,759        
Payments on long-term debt     (2,749) (12,385)        
Payment of debt issuance costs     0 (6,772)        
Proceeds from long-term debt     0 951,782        
Purchases of treasury stock     (1,200,356) (1,000,230)        
Cash dividends paid     (502,993) (462,406)        
Proceeds from issuance of Common Stock, net of shares withheld for taxes     48,144 40,667        
Cash provided (used) by financing activities     301,381 (201,585)        
Effect of foreign currency rate changes on cash, cash equivalents and restricted cash     (13,914) 1,018        
Net change in cash, cash equivalents and restricted cash     319,242 (204,174)        
Cash, cash equivalents and restricted cash – beginning of year     1,231,026 946,396 $ 946,396      
Cash, cash equivalents and restricted cash – end of period 1,550,268 742,222 1,550,268 742,222 1,231,026      
Balances per Consolidated Balance Sheets:                
Cash and cash equivalents           $ 1,546,128 $ 1,227,862 $ 737,825
Other current assets           3,309   3,686
Other assets           831   711
Total cash, cash equivalents and restricted cash $ 1,550,268 $ 742,222 $ 1,231,026 $ 946,396 $ 946,396 $ 1,550,268 $ 1,231,026 $ 742,222