Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 30, 2013
Mar. 31, 2012
Operating activities    
Net income $ 270,417 $ 215,227
Adjustments to reconcile net income to cash provided (used) by operating activities:    
Depreciation 36,490 35,064
Amortization of intangible assets 11,525 12,181
Other amortization 9,933 5,658
Stock-based compensation 23,209 22,922
Provision for doubtful accounts 5,516 4,199
Pension expense in excess of (less than) contributions (86,854) 17,829
Other, net 53,213 17,157
Changes in operating assets and liabilities:    
Accounts receivable (8,938) (73,491)
Inventories (62,263) (55,174)
Other current assets (68,034) (6,657)
Accounts payable (127,139) (188,949)
Accrued compensation (68,880) (93,453)
Accrued income taxes (18,791) 7,242
Accrued liabilities 32,772 (30,459)
Other assets and liabilities 9,498 (1,433)
Cash provided (used) by operating activities 11,674 (112,137)
Investing activities    
Capital expenditures (102,227) (25,140)
Software purchases (10,547) (13,370)
Other, net (2,225) 6,341
Cash used by investing activities (114,999) (32,169)
Financing activities    
Net increase in short-term borrowings 169,754 397,595
Payments on long-term debt (707) (698)
Purchases of Common Stock (281,370) (210,840)
Cash dividends paid (96,263) (79,924)
Proceeds from issuance of Common Stock, net (7,598) (2,164)
Tax benefits of stock option exercises 24,222 22,055
Cash provided (used) by financing activities (191,962) 126,024
Effect of foreign currency rate changes on cash and equivalents (1,737) 2,703
Net change in cash and equivalents (297,024) (15,579)
Cash and equivalents - beginning of year 597,461 341,228
Cash and equivalents - end of period $ 300,437 $ 325,649