CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
3 Months Ended |
Jan. 29, 2017 |
Jan. 24, 2016 |
| OPERATING ACTIVITIES |
|
|
| Net earnings |
$ 235,303
|
$ 235,167
|
| Adjustments to reconcile to net cash provided by operating activities: |
|
|
| Depreciation |
29,247
|
29,679
|
| Amortization of intangibles |
2,072
|
2,125
|
| Equity in earnings of affiliates, net of dividends |
(10,776)
|
(6,454)
|
| Provision for deferred income taxes |
11,215
|
(1,735)
|
| (Gain)/loss on property/equipment sales and plant facilities |
(801)
|
126
|
| Non-cash investment activities |
(1,208)
|
2,081
|
| Stock-based compensation expense |
7,240
|
7,162
|
| Excess tax benefit from stock-based compensation |
(17,630)
|
(20,149)
|
| Changes in operating assets and liabilities, net of acquisitions: |
|
|
| Decrease (increase) in accounts receivable |
36,507
|
50,951
|
| (Increase) decrease in inventories |
(17,513)
|
(1,439)
|
| Increase (decrease) in prepaid expenses and other current assets |
(1,144)
|
7,917
|
| Increase (decrease) in pension and post-retirement benefits |
3,238
|
1,047
|
| (Decrease) increase in accounts payable and accrued expenses |
(98,131)
|
(27,787)
|
| NET CASH PROVIDED (USED IN) BY OPERATING ACTIVITIES |
177,619
|
278,691
|
| INVESTING ACTIVITIES |
|
|
| Sale of business |
135,944
|
|
| Purchases of property/equipment |
(37,895)
|
(33,480)
|
| Proceeds from sales of property/equipment |
3,926
|
1,411
|
| Decrease in investments, equity in affiliates, and other assets |
3,596
|
11,088
|
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES |
105,571
|
(20,981)
|
| FINANCING ACTIVITIES |
|
|
| Principal payments on short-term debt |
|
(185,000)
|
| Dividends paid on common stock |
(76,629)
|
(66,137)
|
| Share repurchase |
(30,588)
|
|
| Proceeds from exercise of stock options |
7,398
|
3,514
|
| Excess tax benefit from stock-based compensation |
17,630
|
20,149
|
| NET CASH USED IN FINANCING ACTIVITIES |
(82,189)
|
(227,474)
|
| EFFECT OF EXCHANGE RATE CHANGES ON CASH |
(6,323)
|
(2,260)
|
| INCREASE IN CASH AND CASH EQUIVALENTS |
194,678
|
27,976
|
| Cash and cash equivalents at beginning of year |
415,143
|
347,239
|
| CASH AND CASH EQUIVALENTS AT END OF QUARTER |
$ 609,821
|
$ 375,215
|