XML 24 R7.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income (loss) $ (39,265) $ (663,925) $ 11,946
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Benefit of deferred income taxes (6,566) (2,875) (24,555)
Depreciation and amortization 60,535 83,069 55,188
Provision for arbitration award   11,282  
Impairment of assets 8,618 544,611  
Non-cash interest on convertible notes     224
Provision for bad debts 1,552 3,766 8,699
Provision for inventory reserves and revaluation, net 11,053 21,550 2,334
Stock-based compensation 31,295 34,733 32,793
(Gain) loss on the disposition of property and equipment 2,529 (43) (227)
Loss on conversion of convertible debt     1,806
Changes in operating accounts, net of acquisitions:      
Accounts receivable 27,130 20,890 (55,977)
Inventories (22,178) (31,241) (33,088)
Prepaid expenses and other current assets (4,369) 2,197 (9,235)
Accounts payable (5,878) (18,904) 23,482
Accrued and other current liabilities (6,652) 624 15,406
All other operating activities (902) (8,862) 22,315
Net cash provided by (used in) operating activities 56,902 (3,128) 51,111
Cash flows from investing activities:      
Purchases of property and equipment (16,567) (22,399) (22,727)
Additions to license and patent costs (1,132) (907) (753)
Proceeds from disposition of property and equipment 350    
Purchase of noncontrolling interest (3,533)    
Cash paid for acquisitions, net of cash assumed   (91,799) (345,361)
Other investing activities (1,000) (5,750) (6,600)
Net cash used in investing activities (21,882) (120,855) (375,441)
Cash flows from financing activities:      
Tax benefits (provision) from share-based payment arrangements   (1,243) 7,653
Proceeds from issuance of common stock     299,729
Proceeds, repurchase and retirement of stock, net (2,871) 135 1,896
Repayment of capital lease obligations (1,055) (1,049) (696)
Net cash provided by (used in) financing activities (3,926) (2,157) 308,582
Effect of exchange rate changes on cash and cash equivalents (1,790) (3,079) (5,706)
Net increase (decrease) in cash and cash equivalents 29,304 (129,219) (21,454)
Cash and cash equivalents at the beginning of the period 155,643 284,862 306,316
Cash and cash equivalents at the end of the period 184,947 155,643 284,862
Supplemental Cash Flow Information:      
Cash interest payments 839 707 888
Cash income tax payments 11,045 12,512 15,602
Transfer of equipment from inventory to property and equipment, net [1] 12,493 9,902 5,891
Transfer of equipment to inventory from property and equipment, net [2] $ 1,102 $ 2,764 944
Stock issued for acquisitions of businesses     24,625
Notes redeemed for shares of common stock     $ 12,134
[1] Inventory is transferred from inventory to property and equipment at cost when the Company requires additional machines for training or demonstration or for placement into on-demand parts services locations.
[2] In general, an asset is transferred from property and equipment, net into inventory at its net book value when the Company has identified a potential sale for a used machine.