Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net earnings $ 193,648 $ 148,723
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization of property, plant and equipment 30,555 27,676
Amortization of other assets 5,820 617
Provision for bad debts and returns 8,385 4,216
Non-cash share-based compensation 10,870 8,874
Deferred income taxes 692 2,215
Loss (gain) on non-current assets 557 (20)
Net foreign currency adjustments (441)  
(Increase) decrease in assets:    
Receivables (130,707) (166,970)
Inventories 33,789 (19,209)
Prepaid expenses and other current assets (4,142) 4,997
Other assets (3,867) (8,223)
Increase (decrease) in liabilities:    
Accounts payable 54,213 75,679
Accrued expenses (19,149) 8,368
Other long-term liabilities 2,059  
Net cash provided by operating activities 182,282 86,943
Cash flows from investing activities:    
Capital expenditures (55,034) (33,004)
Intangible asset additions   (95)
Purchases of investments (2,194) (2,106)
Proceeds from sales of investments 131 105
Net cash used in investing activities (57,097) (35,100)
Cash flows from financing activities:    
Net proceeds from the issuances of common stock through the employee stock purchase plan 2,928 2,238
Payments on long-term debt (14,768) (5,599)
Proceeds from (payments on) short-term borrowings (3,232) 487
Excess tax benefits from share-based compensation 4,469 2,656
Distributions to non-controlling interests of consolidated entity (5,199) (2,350)
Contributions from non-controlling interests of consolidated entity 2,905 485
Net cash used in financing activities (6,433) (3,057)
Net increase in cash and cash equivalents 118,752 48,786
Effect of exchange rates on cash and cash equivalents 2,084 (1,569)
Cash and cash equivalents at beginning of the period 507,991 466,685
Cash and cash equivalents at end of the period 628,827 513,902
Cash paid during the period for:    
Interest 3,041 4,947
Income taxes, net $ 34,391 $ 32,487