| Years ended December 31 (dollars in
thousands) |
1998 |
1997 |
1996 |
| Cash Flows from Operating
Activities |
Net Income
Adjustments to reconcile income to net cash
provided by operating activities:
Depreciation
Amortization of intangibles
Goodwill impairment charge
Stock purchase discount
Net loss (gain) on sales of businesses
Deferred income taxes
Changes in assets and liabilities, net of effects
from acquisitions and sales of
businesses:
Trade accounts receivable
Inventories
Accounts payable
Other assets and liabilities
Net cash provided by operating activities |
$145,408
59,451
26,333
5,905
4,850
13,415
(5,241)
3,568
(6,008)
47,127
294,808 |
$44,672
68,816
28,453
82,893
6,654
(866)
(25,733)
(5,806)
5,019
9,678
81,998
295,778 |
$65,463
66,269
40,367
111,900
7,478
(37,007)
(20,690)
13,082
13,367
(11,456)
41,930
290,703 |
| Cash Flows from Investing
Activities |
Proceeds from sales of
marketable securities
with maturities of more than 3 months
Purchases of marketable securities with maturities
of more than 3 months
Purchases of capital assets
Payments for acquisitions, net of cash acquired
Net proceeds from sales of businesses, net
of cash sold
Proceeds from sales of capital assets
Other
Net cash (used in) provided by investing activities |
19,199
(52,411)
(121,275)
89,416
28,518
(395)
(36,948) |
(8,000)
(109,500)
(10,600)
21,627
20,036
(2,925)
(89,362) |
6,250
(92,038)
(15,098)
112,913
5,618
5,870
23,515 |
| Cash Flows from Financing
Activities |
Net payments on short-term
debt
Payments on long-term debt
Payments to retire common stock
Proceeds from issuing stock under employee plans
Cash dividends paid to shareholders
Net cash used in financing activities |
(6,589)
(60,323)
26,230
(119,682)
(160,364) |
(16,783)
(6,818)
(56,281)
23,654
(121,321)
(177,549) |
(32,428)
(10,934)
(48,065)
28,088
(121,976)
(185,315) |
| Net Increase in Cash and Cash Equivalents |
97,496 |
28,867 |
128,903 |
| Cash and Cash Equivalents at Beginning of
Year |
171,438 |
142,571 |
13,668 |
| Cash and Cash Equivalents at End of Year |
$268,934 |
$171,438 |
$142,571 |
Supplementary cash flow
disclosure:
Interest paid
Income taxes paid |
$8,018
82,276 |
$ 9,620
63,612 |
$10,672
83,600 |
|
