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. 28, 2013
Sep. 29, 2012
Operating activities    
Net income $ 842,452 $ 751,970
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 112,989 104,628
Amortization of intangible assets 34,450 36,130
Other amortization 33,670 26,025
Stock-based compensation 70,258 73,149
Provision for doubtful accounts 14,747 15,521
Pension expense in excess of (less than) contributions (45,669) 57,674
Gain on sale of business   (42,000)
Other, net 65,740 188
Changes in operating assets and liabilities, net of sale of business:    
Accounts receivable (455,712) (502,501)
Inventories (399,396) (317,761)
Other current assets (44,488) (23,854)
Accounts payable 96,246 (100,101)
Accrued compensation 9,816 (20,153)
Accrued income taxes (61,003) (17,095)
Accrued liabilities 133,646 42,078
Other assets and liabilities 10,330 18,707
Cash provided by operating activities 418,076 102,605
Investing activities    
Capital expenditures (203,469) (190,277)
Business acquisition, net of cash acquired   (1,750)
Proceeds from sale of business   68,519
Software purchases (41,923) (12,509)
Other, net (9,896) (3,429)
Cash used by investing activities (255,288) (139,446)
Financing activities    
Net increase in short-term borrowings 457,856 459,173
Payments on long-term debt (402,141) (2,079)
Purchases of Common Stock (283,433) (306,422)
Cash dividends paid (286,790) (237,520)
Proceeds from issuance of Common Stock, net 30,902 45,668
Tax benefits of stock option exercises 41,946 39,455
Cash used by financing activities (441,660) (1,725)
Effect of foreign currency rate changes on cash and equivalents (2,928) 1,941
Net change in cash and equivalents (281,800) (36,625)
Cash and equivalents - beginning of year 597,461 341,228
Cash and equivalents - end of period $ 315,661 $ 304,603