Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.8.0.1
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income $ 112,315 $ 198,439 $ 179,851
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 59,945 60,016 56,521
Loss on disposal or impairment of property, plant, and equipment 1,927 4,805 5,098
Deferred income taxes 44,851 (19,178) (11,709)
Stock-based compensation 11,286 10,986 11,672
Excess tax benefit from employee stock plans 0 0 (7,873)
Changes in operating assets and liabilities:      
Accounts receivable (24,197) 36,710 (40,419)
Inventories 46,662 (18,777) (103,296)
Prepaid expenses and other current assets (19,241) (5,452) 4,411
Other assets 931 (5,948) (2,524)
Accounts payable 30,568 1,483 11,418
Accrued liabilities 11,581 4,847 (2,017)
Income taxes payable 58,702 4,768 (10,994)
Other liabilities 5,798 2,468 4,966
Net cash provided by operating activities 341,128 275,167 95,105
Cash flows from investing activities:      
Purchases of short-term investments (130,993) (21,263) (38,208)
Sales of short-term investments 36,282 21,263 64,980
Capital expenditures (53,352) (49,987) (69,917)
Proceeds from sale of property, plant, and equipment 279 97 144
Net cash used in investing activities (147,784) (49,890) (43,001)
Cash flows from financing activities:      
Proceeds from credit facilities 3,374 62,885 53,429
Repayments on credit facilities (3,374) (64,825) (51,479)
Proceeds from issuance of common stock under employee stock plans 19,946 13,167 17,442
Tax payments related to restricted stock unit issuances (3,662) (5,117) (4,895)
Excess tax benefit from employee stock plans 0 0 7,873
Repurchase of common stock (35,542) (11) (70,068)
Cash dividends paid (50,909) (48,122) (43,547)
Repayments of Related Party Debt 14,236 0 0
Net cash used in financing activities (84,403) (42,023) (91,245)
Net effect of exchange rate changes on cash 12,836 (1,635) (4,647)
Net increase (decrease) in cash and cash equivalents 121,777 181,619 (43,788)
Cash and cash equivalents, beginning of year 551,389 369,770 413,558
Cash and cash equivalents, end of year 673,166 551,389 369,770
Supplemental disclosures of cash flow information:      
Cash paid during the year for income taxes 81,045 70,424 87,350
Interest Paid 685 1,049 1,115
Supplemental disclosures of non-cash investing activities:      
Capital expenditures incurred but not yet paid $ 3,188 $ 2,710 $ 4,698