XML 66 R7.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 852,881 $ 753,897
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 47,843 42,469
Gain on disposal of property and equipment (7) (634)
Stock-based compensation 46,890 42,436
Deferred income taxes 540 (76)
Effect on cash of changes in operating assets and liabilities:    
Accounts receivable (179,838) (181,683)
Distributor receivables 5,813 7,803
Inventories (44,947) (10,338)
Prepaid expenses and other assets (16,121) (16,465)
Prepaid income taxes 6,174 96,462
Accounts payable 69,480 39,641
Accrued liabilities (9,592) 16,516
Accrued promotional allowances 55,799 48,682
Accrued distributor terminations 6 703
Accrued compensation (3,901) (4,357)
Income taxes payable 10,311 (1,383)
Other liabilities (631) 1,628
Deferred revenue (19,631) (13,941)
Net cash provided by operating activities 821,069 821,360
CASH FLOWS FROM INVESTING ACTIVITIES:    
Sales of available-for-sale investments 558,128 927,410
Purchases of available-for-sale investments (835,964) (711,009)
Purchases of property and equipment (44,392) (49,862)
Proceeds from sale of property and equipment 810 4,009
Increase in intangibles (5,478) (6,275)
Increase in other assets (1,289) (10,125)
Net cash (used in) provided by investing activities (328,185) 154,148
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal payments on debt (12,841) (1,482)
Issuance of common stock 85,245 24,481
Purchases of common stock held in treasury (477,721) (805,149)
Net cash used in financing activities (405,317) (782,150)
Effect of exchange rate changes on cash and cash equivalents (7,463) (8,266)
NET INCREASE IN CASH AND CASH EQUIVALENTS 80,104 185,092
CASH AND CASH EQUIVALENTS, beginning of period 637,513 528,622
CASH AND CASH EQUIVALENTS, end of period 717,617 713,714
Cash paid during the period for:    
Interest 306 44
Income taxes $ 226,883 $ 134,377