Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Cash Flows

v3.6.0.2
Consolidated Statement of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net earnings $ 285,359 $ 261,047 $ 152,196
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization of property, plant and equipment 66,083 52,433 47,557
Amortization of other assets 13,099 1,214 1,948
Provision for bad debts and returns 30,820 7,520 14,153
Non-cash share-based compensation 23,081 18,296 8,684
Deferred income taxes (11,936) (4,844) 22,411
Loss on non-current assets 413 656 837
Net foreign currency adjustments (3,949)    
(Increase) decrease in assets:      
Receivables (10,350) (100,032) (70,695)
Inventories (58,152) (176,062) (100,162)
Prepaid expenses and other current assets (15,343) (2,082) (31,788)
Other assets (5,056) (6,423) 4,548
Increase in liabilities:      
Accounts payable 38,247 130,075 98,686
Accrued expenses and other long-term liabilities 9,306 50,416 15,507
Net cash provided by operating activities 361,622 232,214 163,882
Cash flows from investing activities:      
Capital expenditures (119,471) (118,144) (56,905)
Intangible asset additions   (55)  
Purchases of investments (3,810) (8,428)  
Proceeds from sales of investments 170 144  
Acquisition of South Korea distributor (22,534)    
Net cash used in investing activities (145,645) (126,483) (56,905)
Cash flows from financing activities:      
Net proceeds from the issuances of common stock through employee stock purchase plan 5,120 4,318 3,363
Payments on long-term debt (15,653) (32,656) (12,028)
Proceeds from long-term debt   762  
Proceeds (payments) on short-term borrowings 6,091 (1,733) 1,723
Excess tax benefits from share-based compensation 4,682 8,009 1,446
Contribution from non-controlling interests of consolidated entity 13,980 2,272 503
Distributions to non-controlling interests of consolidated entity (17,744) (39,148) (4,050)
Net cash used in financing activities (3,524) (58,176) (9,043)
Net increase in cash and cash equivalents 212,453 47,555 97,934
Effect of exchange rates on cash and cash equivalents (1,908) (6,249) (3,260)
Cash and cash equivalents at beginning of the period 507,991 466,685 372,011
Cash and cash equivalents at end of the period 718,536 507,991 466,685
Cash paid during the period for:      
Interest 5,724 9,891 10,822
Income taxes $ 65,260 $ 63,479 $ 29,499