XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Net revenues:        
Net revenues $ 487,152 $ 486,267 $ 1,614,567 $ 1,404,177
Cost of revenues        
Cost of revenues 255,292 258,272 844,975 751,052
Gross profit 231,860 227,995 769,592 653,125
Research and development 31,898 32,548 103,259 99,510
Selling, general and administrative 70,822 71,347 229,952 217,546
Acquisition and integration costs 36 2,466 (1,132) 4,698
Restructuring 1,364 10 3,374 2,596
Environmental costs     1,000  
Asset impairment       6,719
Fees and expenses related to repricing of term loan   492 378 492
Amortization of intangible assets 10,695 10,977 32,786 34,946
Income from operations 117,045 110,155 399,975 286,618
Interest income 1,516 873 4,077 1,896
Interest expense 3,719 7,172 13,071 23,001
Gain on sale of business       74,856
Other expense, net 326 2,485 1,179 3,741
Income before income taxes 114,516 101,371 389,802 336,628
Provision for income taxes 21,239 25,377 68,542 75,134
Net income 93,277 75,994 321,260 261,494
Other comprehensive income:        
Changes in value of financial instruments designated as cash flow hedges, net of tax expense (benefit) [1] 163 (908) 8,053 (3,578)
Foreign currency translation adjustments, net of tax of $0 (3,576) 8,088 (11,314) 30,352
Unrecognized pension gain (loss), net of tax expense (benefit) [2] 24 (565) (13) (204)
Unrealized gain (loss) on investments, net of tax expense (benefit) [3] 230 1,301 (95) 1,137
Total comprehensive income $ 90,118 $ 83,910 $ 317,891 $ 289,201
Net income per share:        
Basic $ 1.71 $ 1.40 $ 5.89 $ 4.84
Diluted 1.70 1.38 5.82 4.75
Cash dividends per common share $ 0.20 $ 0.175 $ 0.58 $ 0.525
Weighted average common shares outstanding:        
Basic 54,476 54,282 54,539 54,076
Diluted 54,954 55,101 55,171 55,020
Products [Member]        
Net revenues:        
Net revenues $ 426,255 $ 428,891 $ 1,432,931 $ 1,243,146
Cost of revenues        
Cost of revenues 219,311 226,445 747,522 662,985
Services [Member]        
Net revenues:        
Net revenues 60,897 57,376 181,636 161,031
Cost of revenues        
Cost of revenues $ 35,981 $ 31,827 $ 97,453 $ 88,067
[1] Tax expense was $49 and $688 for the three months ended September 30, 2018 and 2017, respectively. Tax expense (benefit) was $2,304 and $(884) for the nine months ended September 30, 2018 and 2017, respectively.
[2] Tax expense (benefit) was $7 and $(312) for the three months ended September 30, 2018 and 2017, respectively. Tax benefit was $(17) and $(315) for the nine months ended September 30, 2018 and 2017, respectively.
[3] Tax expense (benefit) was $17 and $(467) for the three months ended September 30, 2018 and 2017, respectively. Tax (benefit) expense was $(22) and $274 for the nine months ended September 30, 2018 and 2017, respectively.