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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Net revenues:        
Products $ 434,710 $ 335,156 $ 1,259,582 $ 774,248
Services 51,557 45,504 144,595 115,954
Total net revenues 486,267 380,660 1,404,177 890,202
Cost of revenues:        
Cost of products 225,174 183,789 659,538 433,134
Cost of services 33,098 28,486 91,514 74,857
Total cost of revenues (exclusive of amortization shown separately below) 258,272 212,275 751,052 507,991
Gross profit 227,995 168,385 653,125 382,211
Research and development 32,548 32,268 99,510 77,709
Selling, general and administrative 71,839 68,016 218,038 161,545
Acquisition and integration costs 2,466 2,641 4,698 25,190
Restructuring 10   2,596 24
Asset impairment     6,719  
Amortization of intangible assets 10,977 12,452 34,946 22,990
Income from operations 110,155 53,008 286,618 94,753
Interest income 873 404 1,896 1,858
Interest expense 7,172 12,007 23,001 20,526
Gain on sale of business     74,856  
Other (expense) income, net (2,485) 843 (3,741) 2,336
Income before income taxes 101,371 42,248 336,628 78,421
Provision for income taxes 25,377 9,699 75,134 19,099
Net income 75,994 32,549 261,494 59,322
Other comprehensive income:        
Changes in value of financial instruments designated as cash flow hedges, net of tax benefit [1] (908) (229) (3,578) (2,104)
Foreign currency translation adjustments, net of tax of $0 8,088 5,698 30,352 (536)
Unrecognized pension loss, net of tax expense [2] (565)   (204)  
Unrealized gain (loss) on investments, net of tax expense (benefit) [3] 1,301 (31) 1,137 424
Total comprehensive income $ 83,910 $ 37,987 $ 289,201 $ 57,106
Net income per share:        
Basic $ 1.40 $ 0.61 $ 4.84 $ 1.11
Diluted 1.38 0.60 4.75 1.10
Cash dividends per common share $ 0.175 $ 0.170 $ 0.525 $ 0.510
Weighted average common shares outstanding:        
Basic 54,282 53,574 54,076 53,423
Diluted 55,101 54,315 55,020 53,895
[1] Tax expense (benefit) was $688 and $(117) for the three months ended September 30, 2017 and 2016, respectively. Tax benefit was $884 and $1,357 for the nine months ended September 30, 2017 and 2016, respectively.
[2] Tax benefit was $312 and $315 for the three and nine months ended September 30, 2017, respectively.
[3] Tax benefit was $467 and $15 for the three months ended September 30, 2017 and 2016, respectively. Tax (benefit) expense was $(737) and $274 for the nine months ended September 30, 2017 and 2016, respectively.