XML 18 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Unaudited Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 204,634 $ 196,116
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 16,509 15,078
Share-based compensation 9,599 8,359
Deferred income tax provision 4,101 3,984
Non-cash contribution to 401(k) plan 2,428 2,348
Other income from investment in unconsolidated entity (2,294)  
Other, net 103 1,901
Changes in operating assets and liabilities:    
Accounts receivable (89,394) (96,692)
Inventories (97,685) (63,480)
Accounts payable and other liabilities 137,211 83,549
Other, net (507) (4,863)
Net cash provided by operating activities 184,705 146,300
Cash flows from investing activities:    
Investment in unconsolidated entity (63,600)  
Capital expenditures (13,829) (8,989)
Proceeds from sale of property and equipment 139 675
Net cash used in investing activities (77,290) (8,314)
Cash flows from financing activities:    
Dividends on Common and Class B common stock (119,468) (90,298)
Purchase of additional ownership from non-controlling interest (42,688)  
Distributions to non-controlling interest (6,799) (26,027)
Net proceeds (repayments) of other long-term obligations 41 (110)
Net proceeds from issuances of common stock 3,115 4,962
Net proceeds from the sale of Common stock 5,391  
Proceeds from non-controlling interest for investment in unconsolidated entity 12,720  
Net proceeds (repayments) under revolving credit agreement 49,406 (25,900)
Net cash used in financing activities (98,282) (137,373)
Effect of foreign exchange rate changes on cash and cash equivalents 1,524 68
Net increase in cash and cash equivalents 10,657 681
Cash and cash equivalents at beginning of period 56,010 35,229
Cash and cash equivalents at end of period $ 66,667 $ 35,910