XML 20 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 $ 404,169 $ 347,588 $ 260,716
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 80,271 64,568 51,475
Deferred income taxes (4,576) 22,881 (12,908)
Stock-based compensation 28,027 23,021 21,734
Unrealized losses (gains) on foreign currency transactions (2,670) 7,949 2,298
Other (3,586) 986 2,724
Provisions for inventory, warranty and bad debt 38,862 44,978 46,469
Changes in assets and liabilities that (used) provided cash, net of acquisitions:      
Accounts receivable (18,814) (63,225) (11,444)
Inventories (135,440) (71,080) (53,626)
Prepaid expenses and other current assets (7,062) (911) (4,069)
Accounts payable (1,426) 2,309 (407)
Accrued expenses and other liabilities (19,666) 9,612 5,480
Income and other taxes payable 35,212 16,719 (10,746)
Net cash provided by operating activities 393,301 405,395 297,696
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (160,343) (126,535) (127,042)
Proceeds from sales of property, plant and equipment 1,026 15,882 658
Proceeds from short-term investments 470,328 212,515 198,808
Purchases of short and long-term investments (765,310) (211,832) (299,508)
Acquisitions of businesses, net of cash acquired (109,115) (60,483) (47,792)
Other 415 (352) 468
Net cash used in investing activities (562,999) (170,805) (274,408)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from line-of-credit facilities 255 6,761 7,992
Payments on line-of-credit facilities (255) (6,761) (7,992)
Purchase of noncontrolling interests 0 (197) (950)
Proceeds on long-term borrowings 0 28,000 23,750
Proceeds from issuance of common stock under employee stock option and purchase plans less payments for taxes related to net share settlement of equity awards 12,183 28,654 16,183
Principal payments on long-term borrowings (3,604) (19,842) (2,594)
Cash contributed by noncontrolling interest 839 0 0
Purchase of treasury stock, at cost (176,065) (39,987) (8,946)
Net cash (used in) provided by financing activities (166,647) (3,372) 27,443
EFFECT OF CHANGES IN EXCHANGE RATES ON CASH AND CASH EQUIVALENTS (29,197) 54,827 (9,408)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (365,542) 286,045 41,323
CASH AND CASH EQUIVALENTS — Beginning of period 909,900 623,855 582,532
CASH AND CASH EQUIVALENTS — End of period 544,358 909,900 623,855
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:      
Cash paid for interest 3,052 2,583 942
Cash paid for income taxes 112,762 155,559 126,964
Non-cash transactions:      
Demonstration units transferred from inventory to other assets 6,270 4,114 6,293
Property, plant and equipment transferred from inventory 2,535 8,425 4,529
Changes in accounts payable related to property, plant and equipment $ (2,852) $ 1,594 $ 973