XML 20 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating activities    
Net income $ 91,919 $ 143,654
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 23,092 22,777
Stock-based compensation expense 9,442 9,794
(Gain) loss on sale of equipment (93) 73
Deferred income taxes (3,435) (7,420)
Changes in operating assets and liabilities:    
Trade receivables, net 92,075 60,329
Inventories, net (12,515) 8,993
Prepaids and other assets 34,350 (8,747)
Excess tax benefits of stock options and awards (58) (57)
Accounts payable and accrued expenses (13,283) (70,658)
Net cash provided by operating activities 221,494 158,738
Investing activities    
Purchase of property, plant and equipment (20,289) (16,746)
Proceeds from sale of equipment 281 183
Net cash used in investing activities (20,008) (16,563)
Financing activities    
Repurchase of common stock (24,238) (40,911)
Proceeds from exercise of stock options 940 1,952
Excess tax benefits of stock options and awards 58 57
Net cash used in financing activities (23,240) (38,902)
Effect of exchange rate changes on cash activities (16,952) (5,009)
Increase in cash and cash equivalents 161,294 98,264
Cash and cash equivalents at beginning of period 381,336 298,705
Cash and cash equivalents at end of period $ 542,630 $ 396,969