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. 29, 2013
Jun. 30, 2012
Operating activities    
Net income $ 408,691 $ 370,652
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 73,588 70,504
Amortization of intangible assets 22,992 24,221
Other amortization 20,135 16,046
Stock-based compensation 47,879 46,516
Provision for doubtful accounts 9,208 7,303
Pension expense in excess of (less than) contributions (65,994) 38,297
Gain on sale of business   (41,745)
Other, net 57,074 2,143
Changes in operating assets and liabilities, net of sale of business:    
Accounts receivable 133,830 71,072
Inventories (178,511) (136,497)
Other current assets (59,643) (45,419)
Accounts payable (3,104) (126,875)
Accrued compensation (38,851) (65,615)
Accrued income taxes (105,035) (84,510)
Accrued liabilities (24,233) (75,738)
Other assets and liabilities (6,613) 2,774
Cash provided by operating activities 291,413 73,129
Investing activities    
Capital expenditures (155,454) (118,980)
Proceeds from sale of business   68,264
Software purchases (28,715) (7,792)
Other, net (4,307) 3,854
Cash used by investing activities (188,476) (54,654)
Financing activities    
Net increase in short-term borrowings 34,783 400,166
Payments on long-term debt (1,417) (1,398)
Purchases of Common Stock (281,586) (299,096)
Cash dividends paid (191,460) (158,581)
Proceeds from issuance of Common Stock, net 26,069 7,180
Tax benefits of stock option exercises 37,933 25,243
Cash used by financing activities (375,678) (26,486)
Effect of foreign currency rate changes on cash and equivalents (4,608) (2,705)
Net change in cash and equivalents (277,349) (10,716)
Cash and equivalents - beginning of year 597,461 341,228
Cash and equivalents - end of period $ 320,112 $ 330,512