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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating activities    
Net income $ 72,906 $ 92,877
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 15,500 15,139
Stock-based compensation expense 6,254 6,482
(Gain) loss on sale of equipment (29) 75
Deferred income taxes (3,828) (4,935)
Changes in operating assets and liabilities:    
Trade receivables, net 64,200 70,508
Inventories, net 763 3,348
Prepaids and other assets 20,658 (2,958)
Excess tax benefits of stock options and awards (26) (57)
Accounts payable and accrued expenses (13,537) (67,468)
Net cash provided by operating activities 162,861 113,011
Investing activities    
Purchase of property, plant and equipment (15,276) (11,204)
Proceeds from sale of equipment 139 136
Net cash used in investing activities (15,137) (11,068)
Financing activities    
Repurchase of common stock (24,238) (19,943)
Proceeds from exercise of stock options 508 1,952
Excess tax benefits of stock options and awards 26 57
Net cash used in financing activities (23,704) (17,934)
Effect of exchange rate changes on cash activities (13,627) (41)
Increase in cash and cash equivalents 110,393 83,968
Cash and cash equivalents at beginning of period 381,336 298,705
Cash and cash equivalents at end of period $ 491,729 $ 382,673