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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating Activities    
Net income $ 98,841 $ 170,728
Adjustments to reconcile net income to cash provided by operations:    
Depreciation and amortization 165,064 53,227
Stock-based compensation expense 23,932 13,983
Below market intangible amortization (9,400) 0
Loss on disposal of property, plant and equipment 461 1,353
Changes in operating assets and liabilities, net of acquisitions    
Accounts receivable and unbilled accounts receivable (35,705) (59,979)
Inventories 147,424 (116,131)
Accounts payable (71,935) 59,411
Accrued income taxes 21,399 (202)
Accrued liabilities and customer deposits 24,188 27,545
Other assets and liabilities 79,655 (82,031)
Net cash provided by operating activities 443,924 67,904
Investing Activities    
Purchase of property, plant and equipment (61,867) (39,723)
Proceeds from disposal of property, plant and equipment 3,055 8,900
Acquisitions of businesses, net of cash acquired (2,981,552) (38,277)
Net cash used for investing activities (3,040,364) (69,100)
Financing Activities    
Proceeds from debt 2,325,934 591,890
Payments of debt (1,552,121) (546,394)
Proceeds from exercise of stock options and other benefit plans 775 6,867
Payment of income tax withholding on share-based compensation (4,117) (6,503)
Payment of contingent consideration on acquisitions (10,100) 0
Cash dividends (34,263) (23,096)
Net cash provided by financing activities 726,108 22,764
Effect of changes in currency exchange rates (10,651) (9,395)
(Decrease) increase in cash (1,880,983) 12,173
Cash, cash equivalents and restricted cash beginning of period 2,342,354 233,401
Cash and cash equivalents end of period $ 461,371 $ 245,574