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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH PROVIDED BY OPERATING ACTIVITIES:    
Net earnings $ 46,493 $ 98,410
Income items not affecting cash:    
Depreciation and amortization 27,778 24,611
Deferred income taxes (372) 142
Stock-based compensation arrangements 14,381 12,938
Other non-cash items 15,451 (823)
Changes in operating assets and liabilities, net of business acquisitions:    
Decrease in accounts receivable 50,711 22,594
Decrease (increase) in inventories 14,995 (44,072)
(Increase) decrease in prepaid expenses (1,634) 489
(Increase) decrease in other assets (8,613) 1,610
(Decrease) increase in accounts payable (44,165) 24,539
(Decrease) increase in deferred revenue (1,052) 2,303
(Decrease) in accrued payroll and other liabilities (34,534) (28,170)
Increase in accrued income taxes 46,617 5,230
Increase of pension & other long term liabilities 565 4,058
Cash provided by operating activities 126,621 123,859
CASH USED BY INVESTING ACTIVITIES:    
Additions to property and equipment, net (20,876) (30,783)
Proceeds on sale of property and equipment 4,875 30
Cash used by investing activities (58,446) (30,753)
CASH USED BY FINANCING ACTIVITIES:    
Net proceeds from credit agreement and long-term debt 525,766 0
Repayments of credit agreements and long-term debt (112,500) (7,500)
Dividends paid 33,090 30,774
Proceeds from employee stock based compensation plans 6,541 19,636
Excess tax benefits from share-based payment arrangements 1,579 4,041
Other financing activities 10 (8)
Cash provided (used) by financing activities 358,559 (46,031)
Effect of exchange rate changes on cash 3,660 (18,259)
Net increase in cash and cash equivalents 430,394 28,816
Cash and cash equivalents, beginning of period 472,785 531,374
Cash and cash equivalents, end of period 903,179 560,190
Business acquisitions, net of cash acquired $ 42,445 $ 0