XML 29 R9.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net (loss) income $ (43,421) $ 206,477 $ 81,272
Adjustments to reconcile net (loss) income from operations to net cash provided by operating activities:      
Depreciation 64,782 68,181 73,390
Amortization 55,227 72,592 79,154
Stock-based compensation 30,750 30,451 40,307
Provision for excess and obsolete inventory 17,493 21,332 22,193
Goodwill impairment 254,946 (254,946) 98,897
Acquired intangible assets impairment 83,339 98,200  
Deferred taxes (62,936) (7,124) (19,928)
Tax benefit related to employee stock compensation awards (6,198) (4,715) (535)
Impairment of fixed assets 4,179    
Property insurance recovery (5,363)    
Gain from the sale of an equity investment   (5,406)  
Non-cash charge for the sale of inventories revalued at the date of acquisition   1,567  
Retirement plans actuarial (gains) losses (3,203) 17,732 46,564
Contingent consideration adjustment 15,896 2,489 (630)
Other (448) (34) 2,874
Changes in operating assets and liabilities, net of businesses acquired:      
Accounts receivable 18,325 (57,267) 8,060
Inventories 34,263 15,559 51,803
Prepayments and other assets (18,882) 3,034 41,537
Accounts payable and other accrued expenses (1,706) 48,213 (45,430)
Deferred revenue and customer advances (3,634) 17,011 22,033
Retirement plan contributions (6,044) (12,095) (33,916)
Income taxes 18,434 (5,156) 24,417
Net cash provided by operating activities 445,799 412,841 492,062
Cash flows from investing activities:      
Purchases of property, plant and equipment (85,272) (89,878) (168,982)
Purchases of available-for-sale marketable securities (1,656,267) (1,424,002) (1,578,743)
Proceeds from maturities of available-for-sale marketable securities 243,232 360,264 570,358
Proceeds from sales of available-for-sale marketable securities 852,794 1,316,131 859,729
Proceeds from property insurance 5,051    
Acquisition of businesses, net of cash acquired   (282,741) (19,419)
Proceeds from life insurance   1,098 4,184
Proceeds from the sale of an equity investment   5,406  
Net cash used for investing activities (640,462) (113,722) (332,873)
Cash flows from financing activities:      
Proceeds from issuance of convertible notes, net of issuance costs 450,800    
Purchase of convertible note hedges (100,834)    
Proceeds from issuance of warrants 67,852    
Issuance of common stock under stock option and stock purchase plans 20,473 19,530 21,291
Repurchase of common stock (146,331) (299,949)  
Tax benefit related to employee stock compensation awards 6,198 4,715 535
Dividend payments (48,619) (50,713) (37,425)
Payment of revolving credit facility costs   (2,253)  
Payments of long-term debt     (190,972)
Payments of contingent consideration (11,697)    
Net cash provided by (used for) financing activities 237,842 (328,670) (206,571)
Increase (decrease) in cash and cash equivalents 43,179 (29,551) (47,382)
Cash and cash equivalents at beginning of year 264,705 294,256 341,638
Cash and cash equivalents at end of year 307,884 264,705 294,256
Cash paid for:      
Interest 446 301 4,294
Income taxes $ 40,424 $ 35,218 $ 25,893