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 6 Months Ended 12 Months Ended
Jul. 01, 2017
Jul. 02, 2016
Jul. 01, 2017
Jul. 02, 2016
Dec. 31, 2016
Jul. 01, 2017
Dec. 31, 2016
Jul. 02, 2016
Operating activities                
Net income $ 109,889 $ 51,015 $ 319,052 $ 311,284        
Adjustments to reconcile net income to cash (used) provided by operating activities:                
Depreciation and amortization     131,908 137,472        
Stock-based compensation     34,461 41,560        
Provision for doubtful accounts     6,483 10,573        
Pension expense in excess of contributions     12,987 19,961        
Loss on sale of businesses     5,186 100,556        
Other, net     30,836 (18,958)        
Changes in operating assets and liabilities:                
Accounts receivable     43,271 124,934        
Inventories     (207,984) (215,617)        
Accounts payable     (158,133) (180,457)        
Income taxes     (127,039) (162,857)        
Accrued liabilities     (70,129) (83,050)        
Other assets and liabilities     (25,445) (68,813)        
Cash (used) provided by operating activities     (4,546) 16,588        
Investing activities                
Proceeds from sale of businesses, net of cash sold     208,215 0        
Capital expenditures     (78,211) (82,642)        
Software purchases     (33,731) (17,361)        
Other, net     (7,148) (1,297)        
Cash provided (used) by investing activities     89,125 (101,300)        
Financing activities                
Net increase in short-term borrowings     894,708 954,424        
Payments on long-term debt     (1,821) (11,536)        
Payment of debt issuance costs     0 (327)        
Purchases of treasury stock     (1,200,304) (833,846)        
Cash dividends paid     (337,606) (309,583)        
Proceeds from issuance of Common Stock, net of shares withheld for taxes     14,713 12,417        
Cash used by financing activities     (630,310) (188,451)        
Effect of foreign currency rate changes on cash, cash equivalents and restricted cash     (8,355) 8,342        
Net change in cash, cash equivalents and restricted cash     (554,086) (264,821)        
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 676,940 681,575 676,940 681,575 1,231,026      
Balances per Consolidated Balance Sheets:                
Cash and cash equivalents           $ 672,542 $ 1,227,862 $ 676,262
Other current assets           3,716   4,583
Other assets           682   730
Total cash, cash equivalents and restricted cash $ 676,940 $ 681,575 $ 1,231,026 $ 946,396 $ 946,396 $ 676,940 $ 1,231,026 $ 681,575