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
9 Months Ended
Sep. 29, 2012
Oct. 01, 2011
Operating activities    
Net income $ 751,970 $ 632,399
Adjustments to reconcile net income to cash provided (used) by operating activities:    
Depreciation 104,628 85,398
Amortization of intangible assets 36,130 29,092
Other amortization 26,025 17,554
Stock-based compensation 73,149 54,247
Pension expense in excess of contributions 57,674 32,153
Gain on sale of business (42,000)  
Other, net 15,709 (83,439)
Changes in operating assets and liabilities, net of purchases and sales of businesses:    
Accounts receivable (502,501) (573,511)
Inventories (317,761) (328,330)
Other current assets (23,854) 44,109
Accounts payable (100,101) (19,681)
Accrued compensation (20,153) 1,257
Accrued income taxes (17,095) 26,576
Accrued liabilities 42,078 39,238
Other assets and liabilities 18,707 14,105
Cash provided (used) by operating activities 102,605 (28,833)
Investing activities    
Capital expenditures (190,277) (98,173)
Business acquisitions, net of cash acquired (1,750) (2,207,065)
Proceeds from sale of business 68,519  
Trademarks acquisition   (56,598)
Software purchases (12,509) (14,836)
Other, net (3,429) (3,280)
Cash used by investing activities (139,446) (2,379,952)
Financing activities    
Net increase in short-term borrowings 459,173 1,127,805
Payments on long-term debt (2,079) (1,932)
Proceeds from long-term debt   898,450
Payments of debt issuance costs   (5,969)
Purchase of Common Stock (306,422) (6,941)
Cash dividends paid (237,520) (206,277)
Proceeds from issuance of Common Stock, net 45,668 109,671
Tax benefits of stock option exercises 39,455 22,037
Acquition of noncontrolling interest   (108)
Cash (used) provided by financing activities (1,725) 1,936,736
Effect of foreign currency rate changes on cash and equivalents 1,941 17,201
Net change in cash and equivalents (36,625) (454,848)
Cash and equivalents - beginning of year 341,228 792,239
Cash and equivalents - end of period $ 304,603 $ 337,391