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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:      
Net income $ 208,542 $ 205,876 $ 119,317
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 41,295 41,121 51,108
Amortization of intangible assets 15,607 9,367 1,885
Share-based compensation expense 44,138 35,890 27,351
Gain on investment in privately held companies (669) (569) (469)
Net gain on divestiture of discontinued operations 0 0 (13,684)
Deferred income taxes 7,141 (2,397) 6,604
Change in fair value of contingent consideration for business acquisition (4,908) (8,092) 0
Other (11) 107 0
Changes in assets and liabilities, net of acquisitions:      
Accounts receivable, net (26,363) (46,553) 25,513
Inventories 16,047 (15,428) 31,966
Other assets (16,908) (5,309) (1,975)
Accounts payable 17,695 24,459 (58,104)
Accrued and other liabilities 44,655 49,917 (4,317)
Net cash provided by operating activities 346,261 288,389 185,195
Cash flows from investing activities:      
Purchases of property, plant and equipment (39,748) (31,804) (56,615)
Investment in privately held companies (1,240) (960) (2,419)
Proceeds from the return of investment in privately held companies 237 0 0
Payments for the divestiture of discontinued operations, net of cash sold 0 0 (1,395)
Changes in restricted cash 0 715 (715)
Acquisitions, net of cash acquired (88,323) (66,987) 0
Purchases of short-term investments (6,789) 0 0
Purchases of trading investments 6,789 0 0
Purchases of trading investments (6,053) (7,052) (9,619)
Proceeds from sales of trading investments 6,423 7,124 10,073
Net cash used in investing activities (128,704) (98,964) (60,690)
Cash flows from financing activities:      
Payment of cash dividends (104,248) (93,093) (85,915)
Purchases of registered shares (30,722) (83,786) (70,358)
Payment of contingent consideration for business acquisition (5,000) 0 0
Proceeds from exercise of stock options and purchase rights 41,910 39,574 19,767
Tax withholdings related to net share settlements of restricted stock units (29,813) (18,412) (7,247)
Net cash used in financing activities (127,873) (155,717) (143,753)
Effect of exchange rate changes on cash and cash equivalents 4,730 (5,370) 1,405
Net increase (decrease) in cash and cash equivalents 94,414 28,338 (17,843)
Cash and cash equivalents at beginning of the period 547,533 519,195 537,038
Cash and cash equivalents at end of the period 641,947 547,533 519,195
Non-cash investing activities:      
Property, plant and equipment purchased during the period and included in period end liability accounts 3,869 5,072 4,958
Unpaid purchase price for business acquisition 1,000 0 0
Fair value of retained cost method investment as a result of the divestiture of discontinued operations 0 0 5,591
Supplemental cash flow information:      
Income taxes paid, net 15,051 11,323 11,499
The following amounts reflected in the consolidated statements of cash flows are included in discontinued operations:      
Depreciation 0 0 2,207
Amortization of intangible assets 0 0 1,438
Share-based compensation 0 0 332
Purchases of property, plant and equipment 0 0 1,431
Cash and cash equivalents, beginning of the period 0 0 3,659
Cash and cash equivalents, end of the period $ 0 $ 0 $ 0