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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 29, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 253,396 $ 267,628
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 19,255 18,971
Deferred income taxes 1,632 (2,992)
Depreciation 28,704 30,585
Amortization of intangibles 24,911 25,251
Change in operating assets and liabilities:    
Decrease in accounts receivable 52,508 36,591
Increase in inventories (62,200) (33,877)
Increase in other current assets (11,627) (15,264)
Increase in other assets (15,060) (2,857)
Decrease in accounts payable and other current liabilities (10,439) (77,848)
Increase in deferred revenue and customer advances 54,672 40,134
Effect of the 2017 Tax & Jobs Act (3,229) 12,450
Decrease in other liabilities (29,720) (22,215)
Net cash provided by operating activities 302,803 276,557
Cash flows from investing activities:    
Additions to property, plant, equipment and software capitalization (65,188) (36,831)
Investment in unaffiliated companies (4,750) (3,215)
Purchases of investments (35,523) (513,342)
Maturities and sales of investments 890,524 1,759,770
Net cash provided by investing activities 785,063 1,206,382
Cash flows from financing activities:    
Proceeds from debt issuances 363 226
Payments on debt (245) (850,000)
Proceeds from stock plans 30,129 34,845
Purchases of treasury shares (1,329,635) (553,144)
Proceeds from (payments for) derivative contracts 4,654 (2,158)
Net cash used in financing activities (1,294,734) (1,370,231)
Effect of exchange rate changes on cash and cash equivalents (1,414) (12,823)
(Decrease) increase in cash and cash equivalents (208,282) 99,885
Cash and cash equivalents at beginning of period 796,280 642,319
Cash and cash equivalents at end of period $ 587,998 $ 742,204