(in thousands)

2009

2008

Net income

$ 316,354

$  242,329

Noncash charges (credits) to income

 

 

Depreciation and amortization

68,156

62,591

Deferred taxes

15,394

22,814

 

$ 399,904

$  327,734

Cash Provided (Used) by Operating Assets and Liabilities:

 

 

Receivables

(288,174)

(49,704)

Inventories

(159,419)

(145,554)

Other current assets

(1,470)

3,832

Accounts payable, accrued liabilities

73,684

41,079

Total Cash Provided by Operations

$ 24,525

$  177,387

Investment activities

 

 

Additions to plant and equipment

(94,1760)

(93,136)

Other investment activities

14,408

(34,771)

Net investment activities

($ 79,768)

($ 127,907)

Financing activities

 

 

Purchases of treasury stock

(45,854)

(39,267)

Dividends paid

(49,290)

(22,523)

Net changes in short-term borrowing

125,248

45,067

Additions to long-term borrowings

135,249

4,610

Repayments of long-term borrowings

 

(250,564)

Net financing activities

$  165,353

($ 262,677)

Increase (decrease) in cash

$  110,110

($ 213,197)

Beginning cash balance

78,114

291,311

Ending cash balance

$  188,224

$    78,114