XML 16 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows provided by operating activities:    
Net income $ 59,322 $ 96,775
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 43,757 16,606
Amortization of inventory step-up adjustment to fair value 15,090  
Amortization of debt issuance cost and original issue discount 6,453  
Stock-based compensation 19,826 10,025
Provision for excess and obsolete inventory 11,045 9,235
Provision for bad debt 167 (358)
Deferred income taxes (9,567) (2,153)
Excess tax benefits from stock-based compensation (678) (884)
Other 125 248
Changes in operating assets and liabilities:    
Trade accounts receivable (44,508) (11,424)
Inventories (5,077) (25,219)
Income taxes 20,418 10,461
Other current assets (8,846) (7,935)
Accrued compensation 4,460 3,619
Other current and non-current liabilities 4,568 4,557
Accounts payable 14,110 (7,542)
Other assets (3,288) (441)
Net cash provided by operating activities 127,377 95,570
Cash flows used in investing activities:    
Acquisition of businesses, net of cash acquired (939,591) (9,910)
Purchases of investments (116,075) (318,340)
Maturities of investments 148,606 131,004
Sales of investments 337,592 35,720
Proceeds from sale of property, plant and equipment 40 8
Purchases of property, plant and equipment (11,959) (8,831)
Net cash used in investing activities (581,387) (170,349)
Cash flows provided by (used in) financing activities:    
Restricted cash (6,176)  
Proceeds from short-term borrowings 15,434 2,020
Payments of short-term borrowings (8,289) (2,020)
Net proceeds from long-term borrowings 743,746  
Payments of long-term borrowings (111,825)  
Repurchase of common stock (1,545) (8,866)
Net payments related to employee stock awards (3,108) (800)
Dividend payments to common stockholders (27,249) (26,928)
Excess tax benefits from stock-based compensation 678 884
Net cash provided by (used in) financing activities 601,666 (35,710)
Effect of exchange rate changes on cash and cash equivalents (8,356) 199
Increase (decrease) in cash and cash equivalents 139,300 (110,290)
Cash and cash equivalents at beginning of period 227,574 305,437
Cash and cash equivalents at end of period $ 366,874 $ 195,147