Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.3.1.900
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 179,851 $ 141,859 $ 93,603
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 56,521 54,017 40,871
Loss on disposal or impairment of property, plant, and equipment 5,098 481 9,344
Deferred income taxes (11,709) (6,978) 8,818
Stock-based compensation 11,672 11,120 8,878
Excess tax benefit from employee stock plans (7,873) (4,927) (1,532)
Changes in operating assets and liabilities:      
Accounts receivable (40,419) (31,478) 27,442
Inventories (103,296) (62,086) 34,089
Prepaid expenses and other current assets 4,411 (4,869) 5,166
Other assets (2,524) 4,291 (4,215)
Accounts payable 11,418 41,941 31,711
Accrued liabilities (2,017) 35,051 12,210
Income taxes payable (10,994) 1,166 5,534
Other liabilities 4,966 6,195 2,356
Net cash provided by operating activities 95,105 185,783 274,275
Cash flows from investing activities:      
Acquisition of business, net of cash acquired 0 (188,467) 0
Purchases of short-term investments (38,208) (48,243) (125,390)
Sales of short-term investments 64,980 112,895 78,636
Capital expenditures (69,917) (60,283) (69,443)
Proceeds from sale of property, plant, and equipment 144 71 111
Net cash used in investing activities (43,001) (184,027) (116,086)
Cash flows from financing activities:      
Proceeds from credit facilities 53,429 52,356 69,136
Repayments on credit facilities (51,479) (52,205) (69,292)
Proceeds from issuance of common stock under employee stock plans 17,442 22,277 19,537
Tax payments related to restricted stock unit issuances (4,895) (3,141) (2,291)
Excess tax benefit from employee stock plans 7,873 4,927 1,532
Repurchase of common stock (70,068) (15,000) 0
Proceeds from related party note payable 0 16,072 0
Capital contribution from non-controlling interest 0 0 8,000
Cash dividends paid (43,547) (39,836) (31,298)
Net cash used in financing activities (91,245) (14,550) (4,676)
Net effect of exchange rate changes on cash (4,647) (11,137) (6,805)
Net increase (decrease) in cash and cash equivalents (43,788) (23,931) 146,708
Cash and cash equivalents, beginning of year 413,558 437,489 290,781
Cash and cash equivalents, end of year 369,770 413,558 437,489
Supplemental disclosures of cash flow information:      
Cash paid during the year for income taxes 87,350 53,958 22,771
Interest Paid 1,115 838 0
Supplemental disclosures of non-cash investing activities:      
Capital expenditures incurred but not yet paid $ 4,698 $ 7,196 $ 5,195