Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

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Consolidated Statement of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 330,489,000 $ 274,948,000 $ 112,315,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization, and non-cash lease expense 121,725,000 58,230,000 59,945,000
Loss on disposal or impairment of property, plant, and equipment 5,442,000 4,208,000 1,927,000
Deferred income taxes (1,808,000) 1,462,000 44,851,000
Stock-based compensation   14,291,000 11,286,000
Changes in operating assets and liabilities:      
Accounts receivable 37,537,000 25,601,000 24,197,000
Inventories 84,058,000 94,716,000 (46,662,000)
Prepaid expenses and other current assets 15,068,000 9,771,000 19,241,000
Increase (Decrease) in Other Operating Assets (3,547,000) (12,421,000) 931,000
Accounts payable (10,419,000) 19,384,000 30,568,000
Accrued liabilities 18,863,000 66,900,000 11,581,000
Income taxes payable (9,402,000) (3,958,000) 58,702,000
Operating lease assets and liabilities 54,197,000    
Other liabilities 7,137,000 (3,387,000) 5,798,000
Net cash provided by operating activities 285,452,000 289,569,000 341,128,000
Cash flows from investing activities:      
Purchases of short-term investments (136,257,000) (518,755,000) (130,993,000)
Proceeds from Sale, Maturity and Collection of Short-term Investments 400,501,000 352,127,000 36,282,000
Capital expenditures (123,516,000) (65,622,000) (53,352,000)
Proceeds from sale of property, plant, and equipment 0 19,000 279,000
Net cash used in investing activities 140,728,000 (232,231,000) (147,784,000)
Cash flows from financing activities:      
Proceeds from credit facilities 78,186,000 70,576,000 3,374,000
Repayments on credit facilities (78,186,000) (70,576,000) (3,374,000)
Proceeds from issuance of common stock under employee stock plans 19,793,000 18,484,000 19,946,000
Tax payments related to restricted stock unit issuances (5,806,000) (4,285,000) (3,662,000)
Repurchase of common stock (121,702,000) (201,600,000) (35,542,000)
Payments of Ordinary Dividends, Common Stock   (62,664,000) (50,909,000)
Payments of Ordinary Dividends, Noncontrolling Interest   (19,949,000) 0
Repayments of Related Party Debt 0 0 14,236,000
Net cash used in financing activities (190,722,000) (270,014,000) (84,403,000)
Net effect of exchange rate changes on cash (1,244,000) (8,695,000) 12,836,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 234,214,000 (221,371,000) 121,777,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 686,009,000 451,795,000 673,166,000
Cash and cash equivalents, beginning of year 437,825,000    
Cash and cash equivalents, end of year 686,009,000 437,825,000  
Supplemental disclosures of cash flow information:      
Cash paid during the year for income taxes 99,062,000 77,408,000 81,045,000
Cash paid during the year for interest on note payable to related party 0 0 685,000
Supplemental disclosures of non-cash investing activities:      
Capital expenditures incurred but not yet paid 9,543,000 11,831,000 3,188,000
Increase (Decrease) in Operating Liabilities [Abstract]      
Payments to Noncontrolling Interests $ 17,880,000 $ 0 $ 0