XML 19 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 86,500 $ 69,530
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 40,142 35,080
Equity method earnings (43) (358)
Gain on step acquisitions (13,644) 0
Loss on extinguishment of debt 7,220 0
Foreign currency losses 10,194 (256)
Stock-based compensation 13,267 7,581
Deferred taxes 3,023 5,390
Changes in operating assets and liabilities:    
Accounts receivable (6,775) (2,812)
Inventories, net (16,743) 8,706
Prepaid expenses and other (19,676) (15,140)
Other assets (546) (2,567)
Accounts payable 1,040 (4,357)
Accrued expenses (45,363) (21,607)
Other liabilities (6,663) 4,839
Net cash provided by operating activities 51,933 84,029
Cash flows from investing activities:    
Purchases of property and equipment (28,429) (27,751)
Proceeds of investment sales 7,964 7,741
Purchases of investments (4,722) (4,716)
Acquisitions (net of cash acquired) (28,311) (25,095)
Investment in equity investee (4,750) 0
Net cash used in investing activities (58,248) (49,821)
Cash flows from financing activities:    
Exercise of employee stock options and taxes paid related to the net shares settlement of stock awards 5,951 7,795
Payments on long-term debt (514,177) (64,495)
Payment of cash dividends (40,091) (38,042)
Payment of debt issuance costs (7,243) 0
Proceeds from debt 582,398 67,000
Repurchases of shares of common stock (35,823) (22,135)
Net cash (used in) in financing activities (8,985) (49,877)
Effect of exchange rate changes on cash (9,068) 3,525
Net (decrease) in cash and cash equivalents (24,368) (12,144)
Cash and cash equivalents, beginning of period 426,399 357,246
Cash and cash equivalents, end of period $ 402,031 $ 345,102