XML 22 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 35,539 $ 27,489
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 18,907 17,625
Equity method earnings (456) (104)
Gain on step acquisition (13,644) 0
Loss on extinguishment of debt 7,220 0
Foreign currency losses 1,764 791
Stock-based compensation 6,761 3,929
Deferred taxes 10,062 4,522
Changes in operating assets and liabilities:    
Accounts receivable (8,589) 3,269
Inventories, net (6,624) 2,340
Prepaid expenses and other (12,915) (12,088)
Other assets (974) (2,023)
Accounts payable 2,179 (125)
Accrued expenses (36,230) (26,282)
Other liabilities (4,113) 1,984
Net cash (used in) provided by operating activities (1,113) 21,327
Cash flows from investing activities:    
Purchases of property and equipment (12,652) (15,928)
Proceeds of investment sales 7,781 4,188
Purchases of investments (4,539) (4,716)
Acquisitions (net of cash acquired) (28,311) 0
Investment in equity investee (4,750) (12,600)
Net cash (used in) investing activities (42,471) (29,056)
Cash flows from financing activities:    
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards 299 164
Payments on long-term debt (9,094) (17,830)
Payment of cash dividends (19,801) (18,987)
Proceeds from debt 75,943 25,000
Repurchases of shares of common stock (17,386) (6,816)
Net cash provided by (used in) financing activities 29,961 (18,469)
Effect of exchange rate changes on cash 8,708 4,530
Net decrease in cash and cash equivalents (4,915) (21,668)
Cash and cash equivalents, beginning of period 426,399 357,246
Cash and cash equivalents, end of period $ 421,484 $ 335,578