Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Apr. 01, 2017
Apr. 02, 2016
Dec. 31, 2016
Apr. 01, 2017
Dec. 31, 2016
Apr. 02, 2016
Operating activities            
Net income $ 209,163 $ 260,269        
Adjustments to reconcile net income to cash used by operating activities:            
Depreciation and amortization 66,438 68,030        
Stock-based compensation 15,041 21,151        
Provision for doubtful accounts 2,690 5,815        
Pension expense in excess of contributions 7,781 9,731        
Loss on sale of businesses 2,415 0        
Other, net 19,310 (22,789)        
Changes in operating assets and liabilities:            
Accounts receivable (84,229) 43,153        
Inventories (159,712) (134,713)        
Accounts payable (207,233) (263,167)        
Income taxes (34,056) 4,413        
Accrued liabilities (22,721) (88,214)        
Other assets and liabilities (25,049) (49,247)        
Cash used by operating activities (210,162) (145,568)        
Investing activities            
Capital expenditures (40,856) (36,336)        
Software purchases (20,657) (6,335)        
Other, net (6,824) (587)        
Cash used by investing activities (68,337) (43,258)        
Financing activities            
Net increase in short-term borrowings 262,156 685,985        
Payments on long-term debt (904) (10,695)        
Purchases of treasury stock (438,297) (713,767)        
Cash dividends paid (172,713) (155,584)        
Proceeds from issuance of Common Stock, net of shares withheld for taxes 3,283 4,102        
Cash used by financing activities (346,475) (189,959)        
Effect of foreign currency rate changes on cash, cash equivalents and restricted cash 2,228 19,033        
Net change in cash, cash equivalents and restricted cash (622,746) (359,752)        
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 608,280 586,644 1,231,026      
Balances per Consolidated Balance Sheets:            
Cash and cash equivalents       $ 604,444 $ 1,227,862 $ 585,365
Other current assets       3,174   0
Current assets of discontinued operations       0   470
Other assets       662   809
Total cash, cash equivalents and restricted cash $ 1,231,026 $ 946,396 $ 946,396 $ 608,280 $ 1,231,026 $ 586,644