Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 28, 2013
Dec. 29, 2012
Dec. 31, 2011
Operating activities      
Net income $ 1,210,119 $ 1,086,138 $ 890,393
Adjustments to reconcile net income to cash provided by operating activities:      
Depreciation 157,810 148,969 127,203
Amortization of intangible assets 45,787 47,929 41,708
Other amortization 49,676 41,058 29,824
Stock-based compensation 87,118 92,814 76,739
Provision for doubtful accounts 15,756 19,264 12,490
Pension expense in excess of (less than) contributions (28,102) (20,198) 46,346
Deferred income taxes (12,370) (20,797) (10,867)
Gain on sale of businesses   (44,485)  
Other, net 14,306 (40,931) 32,665
Changes in operating assets and liabilities, net of purchases and sales of business:      
Accounts receivable (155,053) (111,571) (154,487)
Inventories (47,240) 87,620 (7,509)
Other current assets (9,194) 32,382 (18,449)
Accounts payable 75,073 (74,294) (32,898)
Accrued compensation (1,139) (18,907) 2,448
Accrued income taxes 16,628 26,213 16,009
Accrued liabilities 85,611 (17,005) (10,834)
Other assets and liabilities 1,255 40,801 40,590
Cash provided by operating activities 1,506,041 1,275,000 1,081,371
Investing activities      
Capital expenditures (271,153) (251,940) (170,894)
Business acquisitions, net of cash acquired   (1,750) (2,207,065)
Proceeds from sale of businesses   72,519  
Trademarks acquisition     (58,132)
Software purchases (53,989) (30,890) (20,102)
Other, net (25,131) (8,230) (3,840)
Cash used by investing activities (350,273) (220,291) (2,460,033)
Financing activities      
Net increase (decrease) in short-term borrowings 9,032 (269,010) 250,824
Payments on long-term debt (404,872) (2,776) (2,738)
Proceeds from long-term debt     898,450
Payment of debt issuance costs and hedging settlement costs     (55,536)
Purchases of Common Stock (282,024) (307,282) (7,420)
Cash dividends paid (402,136) (333,229) (285,722)
Proceeds from issuance of Common Stock, net 48,029 62,770 134,012
Tax benefits of stock option exercises 48,140 47,213 33,153
Acquisitions of noncontrolling interests     (52,440)
Other, net   (201) (338)
Cash provided (used) by financing activities (983,831) (802,515) 912,245
Effect of foreign currency rate changes on cash and equivalents 7,005 4,039 15,406
Net change in cash and equivalents 178,942 256,233 (451,011)
Cash and equivalents - beginning of year 597,461 341,228 792,239
Cash and equivalents - end of year $ 776,403 $ 597,461 $ 341,228