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v3.8.0.1

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2018 | Mar. 31, 2017
Cash Flows from Operating Activities: |  |
Net income | $ 89,476 | $ 69,058
Adjustments to reconcile net income to net cash provided by operating activities: |  |
Depreciation and amortization | 20,804 | 20,307
Benefit of deferred income taxes | 3,005 | 1,941
Share-based compensation expense | 5,960 | 5,655
Other | 1,091 | 860
Changes in assets and liabilities: |  |
Accounts receivable | (21,800) | (19,429)
Inventories | (8,070) | (5,369)
Other assets and liabilities | (52,302) | (38,531)
Accounts payable | (1,939) | (3,687)
Deferred revenue | (1,327) | 469
Net cash provided by operating activities | 34,898 | 31,274
Cash Flows from Investing Activities: |  |
Purchases of property and equipment | (23,726) | (23,647)
Purchase of marketable securities | (87) | (90,492)
Proceeds from the sale and maturities of marketable securities | 284,125 | 87,476
Acquisitions of a business, net of cash acquired |  | (2,349)
Net cash provided (used) by investing activities | 260,312 | (29,012)
Cash Flows from Financing Activities: |  |
(Repayments) borrowings on revolving credit facilities, net | (247,500) | 60,000
Repurchases of common stock | (83,487) | (63,910)
Proceeds from exercises of stock options and employee stock purchase plans | 14,551 | 12,526
Shares withheld for statutory tax withholding on restricted stock | (8,555) | (7,303)
Net cash (used) provided by financing activities | (324,991) | 1,313
Net effect of changes in exchange rates on cash | 1,335 | 1,932
Net (decrease) increase in cash and cash equivalents | (28,446) | 5,507
Cash and cash equivalents at beginning of period | 187,675 | 154,901
Cash and cash equivalents at end of period | $ 159,229 | $ 160,408

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