Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Operating Activities    
Net income $ 370,652 $ 330,987
Adjustments to reconcile net income to cash provided (used) by operating activities:    
Depreciation 70,504 57,091
Amortization of intangible assets 24,221 19,246
Other amortization 16,046 11,418
Stock-based compensation 46,516 32,977
Pension expense in excess of contributions 38,297 22,029
Gain on sale of business (41,745)  
Other, net 9,446 6,523
Changes in operating assets and liabilities, net of purchases and sales of businesses:    
Accounts receivable 71,072 (97,162)
Inventories (136,497) (199,650)
Other current assets (45,419) (15,124)
Accounts payable (126,875) (73,723)
Accrued compensation (65,615) (50,222)
Accrued income taxes (84,510) (56,817)
Accrued liabilities (75,738) (38,883)
Other assets and liabilities 2,774 8,989
Cash provided (used) by operating activities 73,129 (42,321)
Investing Activities    
Capital expenditures (118,980) (64,022)
Proceeds from sale of business 68,264  
Trademarks acquisition   (56,598)
Software purchases (7,792) (8,221)
Other, net 3,854 (1,107)
Cash used by investing activities (54,654) (129,948)
Financing Activities    
Net increase in short-term borrowings 400,166 6,252
Payments on long-term debt (1,398) (1,260)
Purchase of Common Stock (299,096) (5,166)
Cash dividends paid (158,581) (137,182)
Proceeds from issuance of Common Stock, net 7,180 83,845
Tax benefits of stock option exercises 25,243 14,718
Cash used by financing activities (26,486) (38,793)
Effect of Foreign Currency Rate Changes on Cash and Equivalents (2,705) 30,301
Net Change in Cash and Equivalents (10,716) (180,761)
Cash and Equivalents - Beginning of Year 341,228 792,239
Cash and Equivalents - End of Period $ 330,512 $ 611,478