Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.6.0.2
Consolidated Statement 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 $ 198,439 $ 179,851 $ 141,859
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 60,016 56,521 54,017
Loss on disposal or impairment of property, plant, and equipment 4,805 5,098 481
Deferred income taxes (19,178) (11,709) (6,978)
Stock-based compensation 10,986 11,672 11,120
Excess tax benefit from employee stock plans 0 (7,873) (4,927)
Changes in operating assets and liabilities:      
Accounts receivable 36,710 (40,419) (31,478)
Inventories (18,777) (103,296) (62,086)
Prepaid expenses and other current assets (5,452) 4,411 (4,869)
Other assets (5,948) (2,524) 4,291
Accounts payable 1,483 11,418 41,941
Accrued liabilities 4,847 (2,017) 35,051
Income taxes payable 4,768 (10,994) 1,166
Other liabilities 2,468 4,966 6,195
Net cash provided by operating activities 275,167 95,105 185,783
Cash flows from investing activities:      
Acquisition of business, net of cash acquired 0 0 (188,467)
Purchases of short-term investments (21,263) (38,208) (48,243)
Sales of short-term investments 21,263 64,980 112,895
Capital expenditures (49,987) (69,917) (60,283)
Proceeds from sale of property, plant, and equipment 97 144 71
Net cash used in investing activities (49,890) (43,001) (184,027)
Cash flows from financing activities:      
Proceeds from credit facilities 62,885 53,429 52,356
Repayments on credit facilities (64,825) (51,479) (52,205)
Proceeds from issuance of common stock under employee stock plans 13,167 17,442 22,277
Tax payments related to restricted stock unit issuances (5,117) (4,895) (3,141)
Excess tax benefit from employee stock plans 0 7,873 4,927
Repurchase of common stock (11) (70,068) (15,000)
Proceeds from related party note payable 0 0 16,072
Cash dividends paid (48,122) (43,547) (39,836)
Net cash used in financing activities (42,023) (91,245) (14,550)
Net effect of exchange rate changes on cash (1,635) (4,647) (11,137)
Net increase (decrease) in cash and cash equivalents 181,619 (43,788) (23,931)
Cash and cash equivalents, beginning of year 369,770 413,558 437,489
Cash and cash equivalents, end of year 551,389 369,770 413,558
Supplemental disclosures of cash flow information:      
Cash paid during the year for income taxes 70,424 87,350 53,958
Interest Paid 1,049 1,115 838
Supplemental disclosures of non-cash investing activities:      
Capital expenditures incurred but not yet paid $ 2,710 $ 4,698 $ 7,196