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 earnings $ 261,047 $ 152,196 $ 60,868
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization of property, plant and equipment 52,433 47,557 42,397
Amortization of deferred financing costs 687 1,201 1,201
Amortization of intangible assets 527 747 912
Provision for bad debts and returns 7,520 14,153 2,868
Non-cash share-based compensation 18,296 8,684 2,388
Deferred income taxes (4,844) 22,411 11,583
Other 656 837 (447)
(Increase) decrease in assets:      
Receivables (100,032) (70,695) (21,279)
Inventories (176,062) (100,162) (22,589)
Prepaid expenses and other current assets (2,082) (31,788) 1,205
Other assets (6,423) 4,548 (3,239)
Increase in liabilities:      
Accounts payable 130,075 98,686 17,596
Accrued expenses and other long-term liabilities 50,416 15,507 5,714
Net cash provided by operating activities 232,214 163,882 99,178
Cash flows from investing activities:      
Capital expenditures (118,144) (56,905) (41,294)
Intangible asset additions (55)   (87)
Purchases of investments (8,428)    
Proceeds from sales of investments 144    
Net cash used in investing activities (126,483) (56,905) (41,381)
Cash flows from financing activities:      
Net proceeds from the issuances of common stock through employee stock purchase plan 4,318 3,363 2,947
Payments on long-term debt (32,656) (12,028) (11,667)
Proceeds from long-term debt 762    
Proceeds (payments) on short-term borrowings (1,733) 1,723 (2,382)
Excess tax benefits from share-based compensation 8,009 1,446 531
Contribution from non-controlling interests of consolidated entity 2,272 503 3,635
Distributions to non-controlling interests of consolidated entity (39,148) (4,050) (3,175)
Net cash used in financing activities (58,176) (9,043) (10,111)
Net increase in cash and cash equivalents 47,555 97,934 47,686
Effect of exchange rates on cash and cash equivalents (6,249) (3,260) (1,501)
Cash and cash equivalents at beginning of the period 466,685 372,011 325,826
Cash and cash equivalents at end of the period 507,991 466,685 372,011
Cash paid during the period for:      
Interest 9,891 10,822 10,624
Income taxes $ 63,479 $ 29,499 $ 5,480