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, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 274,948,000 $ 112,315,000 $ 198,439,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 58,230,000 59,945,000 60,016,000
Loss on disposal or impairment of property, plant, and equipment 4,208,000 1,927,000 4,805,000
Deferred income taxes 1,462,000 44,851,000 (19,178,000)
Stock-based compensation   11,286,000 10,986,000
Changes in operating assets and liabilities:      
Accounts receivable (25,601,000) (24,197,000) 36,710,000
Inventories (94,716,000) 46,662,000 (18,777,000)
Prepaid expenses and other current assets (9,771,000) (19,241,000) (5,452,000)
Increase (Decrease) in Other Operating Assets 12,421,000 (931,000) 5,948,000
Accounts payable 19,384,000 30,568,000 1,483,000
Accrued liabilities 66,900,000 11,581,000 4,847,000
Income taxes payable (3,958,000) 58,702,000 4,768,000
Other liabilities (3,387,000) 5,798,000 2,468,000
Net cash provided by operating activities 289,569,000 341,128,000 275,167,000
Cash flows from investing activities:      
Purchases of short-term investments (518,755,000) (130,993,000) (21,263,000)
Proceeds from Sale, Maturity and Collection of Short-term Investments 352,127,000 36,282,000 21,263,000
Capital expenditures (65,622,000) (53,352,000) (49,987,000)
Proceeds from sale of property, plant, and equipment 19,000 279,000 97,000
Net cash used in investing activities (232,231,000) (147,784,000) (49,890,000)
Cash flows from financing activities:      
Proceeds from credit facilities 70,576,000 3,374,000 62,885,000
Repayments on credit facilities (70,576,000) (3,374,000) (64,825,000)
Proceeds from issuance of common stock under employee stock plans 18,484,000 19,946,000 13,167,000
Tax payments related to restricted stock unit issuances (4,285,000) (3,662,000) (5,117,000)
Repurchase of common stock (201,600,000) (35,542,000) (11,000)
Payments of Ordinary Dividends, Common Stock   (50,909,000) (48,122,000)
Payments of Ordinary Dividends, Noncontrolling Interest   0 0
Repayments of Related Party Debt 0 14,236,000 0
Net cash used in financing activities (270,014,000) (84,403,000) (42,023,000)
Net effect of exchange rate changes on cash (8,695,000) 12,836,000 (1,635,000)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (221,371,000) 121,777,000 181,619,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 451,795,000 673,166,000 551,389,000
Cash and cash equivalents, beginning of year 673,166,000    
Cash and cash equivalents, end of year 437,825,000 673,166,000  
Supplemental disclosures of cash flow information:      
Cash paid during the year for income taxes 77,408,000 81,045,000 70,424,000
Interest Paid, Including Capitalized Interest, Operating and Investing Activities 0 685,000 1,049,000
Supplemental disclosures of non-cash investing activities:      
Capital expenditures incurred but not yet paid $ 11,831,000 $ 3,188,000 $ 2,710,000