XML 30 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 392,896 $ 339,132 $ 104,809
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 79,853 82,556 65,926
Amortization of inventory step-up adjustment to fair value     15,090
Amortization of debt issuance cost and original issue discount 4,718 10,699 9,265
Stock-based compensation 27,262 24,378 25,228
Provision for excess and obsolete inventory 22,324 20,213 16,039
Provision for doubtful accounts 1,435 825 1,109
Deferred income taxes (19,388) (4,831) (38,822)
Excess tax benefits from stock-based compensation     (1,468)
Asset impairment   6,719 5,000
Gain on sale of business   (74,856)  
Other 2,649 824 256
Changes in operating assets and liabilities:      
Trade accounts receivable (546) (44,077) (58,111)
Inventories (73,779) (72,471) (13,798)
Income taxes (11,430) 12,805 30,914
Other current and non-current assets (1,639) (8,631) (12,165)
Accrued compensation (8,649) 32,502 10,965
Other current and non-current liabilities (3,948) 18,030 3,681
Accounts payable 2,023 11,405 16,180
Net cash provided by operating activities 413,781 355,222 180,098
Cash flows from investing activities:      
Acquisition of business, net of cash acquired     (939,591)
Net proceeds from sale of business   72,509  
Purchases of investments (253,598) (229,557) (268,458)
Maturities of investments 181,749 157,342 160,917
Sales of investments 207,542 53,564 338,996
Purchases of property, plant and equipment (62,941) (31,287) (19,123)
Other   66 273
Net cash provided by (used in) investing activities 72,752 22,637 (726,986)
Cash flows from financing activities:      
Proceeds from short-term borrowings 67,629 28,360 18,964
Payments of short-term borrowings (67,163) (29,711) (11,742)
Proceeds from long-term borrowings 40 191 744,653
Payments of long-term borrowings (50,003) (228,141) (153,395)
Repurchases of common stock (75,000)   (1,545)
Net proceeds related to employee stock awards (11,104) (12,216) (1,922)
Dividend payments (42,405) (38,178) (36,361)
Excess tax benefit from stock-based compensation     1,468
Net cash (used in) provided by financing activities (178,006) (279,695) 560,120
Effect of exchange rate changes on cash and cash equivalents 1,931 1,813 (6,896)
Increase in cash and cash equivalents 310,458 99,977 6,336
Cash and cash equivalents, including restricted cash, at beginning of year 333,887 233,910 227,574
Cash and cash equivalents, including restricted cash, at end of year 644,345 333,887 233,910
Cash paid during the period for:      
Interest 14,593 20,467 20,839
Income taxes $ 91,765 $ 104,691 $ 44,967