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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Net revenues:        
Net revenues $ 474,110 $ 573,140 $ 937,671 $ 1,127,415
Cost of revenues        
Cost of revenues 263,083 298,263 528,526 589,683
Gross profit 211,027 274,877 409,145 537,732
Research and development 41,855 36,504 80,788 71,361
Selling, general and administrative 83,236 76,181 165,691 159,130
Fees and expenses related to term loan   378 5,847 378
Acquisition and integration costs 3,240 (1,168) 33,407 (1,168)
Restructuring and other 1,242 790 3,165 3,010
Amortization of intangible assets 17,552 10,901 33,279 22,091
Income from operations 63,902 151,291 86,968 282,930
Interest income 1,423 1,456 3,137 2,561
Interest expense 12,674 3,922 21,793 9,352
Other expense, net 788 281 1,113 853
Income before income taxes 51,863 148,544 67,199 275,286
Provision for income taxes 14,124 25,682 17,005 47,303
Net income 37,739 122,862 50,194 227,983
Other comprehensive income:        
Changes in value of financial instruments designated as cash flow hedges, net of tax (benefit) expense [1] (739) 7,712 (687) 7,890
Foreign currency translation adjustments, net of tax of $0 593 (18,508) (3,675) (7,737)
Unrecognized pension gain (loss), net of tax (benefit) expense [2] 2 48 1 (37)
Unrealized loss on investments, net of tax benefit [3] (96) (266) (146) (325)
Total comprehensive income $ 37,499 $ 111,848 $ 45,687 $ 227,774
Net income per share:        
Basic $ 0.69 $ 2.25 $ 0.92 $ 4.18
Diluted $ 0.69 $ 2.22 $ 0.91 $ 4.12
Weighted average common shares outstanding:        
Basic 54,815 54,719 54,481 54,571
Diluted 55,089 55,274 54,966 55,280
Products [Member]        
Net revenues:        
Net revenues $ 401,326 $ 509,999 $ 798,689 $ 1,006,676
Cost of revenues        
Cost of revenues 226,213 266,890 455,923 528,211
Services [Member]        
Net revenues:        
Net revenues 72,784 63,141 138,982 120,739
Cost of revenues        
Cost of revenues $ 36,870 $ 31,373 $ 72,603 $ 61,472
[1] Tax (benefit) expense was $(227) and $2,367 for the three months ended June 30, 2019 and 2018, respectively. Tax (benefit) expense was $(212) and $2,255 for the six months ended June 30, 2019 and 2018, respectively
[2] Tax (benefit) expense was $(1) and $12 for the three months ended June 30, 2019 and 2018, respectively. Tax expense (benefit) was $20 and $(24) for the six months ended June 30, 2019 and 2018, respectively
[3] Tax benefit was $(30) and $(22) for the three months ended June 30, 2019 and 2018, respectively. Tax benefit was $(46) and $(39) for the six months ended June 30, 2019 and 2018, respectively.