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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Operating activities    
Net income $ 36,769 $ 53,664
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 7,775 7,455
Stock-based compensation expense 3,192 3,363
Loss (gain) on sale of equipment (13) (63)
Deferred income taxes (962) (2,755)
Changes in operating assets and liabilities:    
Trade receivables, net (8,942) 62,837
Inventories, net 1,899 (7,010)
Prepaids and other assets 8,050 (1,259)
Excess tax benefits of stock options and awards (11) (24)
Accounts payable and accrued expenses 4,766 (29,139)
Net cash provided by operating activities 52,523 87,069
Investing activities    
Purchase of property, plant and equipment (7,732) (6,156)
Proceeds from sale of equipment 76 121
Net cash used in investing activities (7,656) (6,035)
Financing activities    
Repurchase of common stock 0 0
Proceeds from exercise of stock options 155 282
Excess tax benefits of stock options and awards 11 24
Net cash used in financing activities 166 306
Effect of exchange rate changes on cash activities (3,003) (5,914)
Increase (decrease) in cash and cash equivalents 42,030 75,426
Cash and cash equivalents at beginning of period 381,336 298,705
Cash and cash equivalents at end of period $ 423,366 $ 374,131