Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net earnings $ 371,273 $ 235,104 $ 285,359
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization of property, plant and equipment 98,966 82,764 66,083
Amortization of other assets 10,714 13,746 13,099
Provision for bad debts and returns 35,730 18,398 30,820
Non-cash share-based compensation 30,468 28,902 23,081
Deferred income taxes (9,767) (3,947) (11,936)
Gain (loss) on non-current assets 550 (2,187) 413
Net foreign currency adjustments 10,072 (7,749) (3,949)
(Increase) decrease in assets:      
Receivables (136,188) (102,222) (10,350)
Inventories (7,212) (158,628) (58,152)
Prepaid expenses and other current assets (28,356) (9,145) (15,343)
Other assets (1,713) (8,916) (5,056)
Increase (decrease) in liabilities:      
Accounts payable 174,352 (12,806) 38,247
Accrued expenses and other long-term liabilities 19,663 86,023 9,306
Net cash provided by operating activities 568,552 159,337 361,622
Cash flows from investing activities:      
Capital expenditures (143,036) (135,976) (119,471)
Intangible asset additions   (214)  
Purchases of investments (446,127) (2,344) (3,810)
Proceeds from sales of investments 269,749 284 170
Acquisition of South Korea distributor     (22,534)
Net cash used in investing activities (319,414) (138,250) (145,645)
Cash flows from financing activities:      
Net proceeds from the issuances of common stock through employee stock purchase plan 5,297 5,479 5,120
Payments on long-term debt (1,683) (1,783) (15,653)
Proceeds from long-term debt 18,626 5,745  
Proceeds (payments) on short-term borrowings (787) 1,925 6,091
Payments for taxes related to net share settlement of equity awards (14,191)    
Excess tax benefits from share-based compensation     4,682
Distributions to non-controlling interests of consolidated entity (27,000) (25,953) (17,744)
Contribution from non-controlling interests of consolidated entity   46 13,980
Net cash used in financing activities (119,715) (14,541) (3,524)
Net increase in cash and cash equivalents 129,423 6,546 212,453
Effect of exchange rates on cash and cash equivalents 6,383 11,349 (1,908)
Cash and cash equivalents at beginning of the year 736,431 718,536 507,991
Cash and cash equivalents at end of the year 872,237 736,431 718,536
Cash paid during the year for:      
Interest 5,568 6,392 5,724
Income taxes, net 93,041 $ 56,633 $ 65,260
Class A Common Stock [Member]      
Cash flows from financing activities:      
Repurchase of Class A common stock $ (99,977)