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, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net earnings (loss) $ (67,484) $ 136,148 $ 54,699
Adjustments to reconcile net earnings (loss) to net cash provided by (used in) operating activities:      
Noncontrolling interest in subsidiaries (96) 258 (3,817)
Depreciation of property, plant and equipment 33,652 24,707 19,694
Amortization of deferred financing costs 1,128 1,482 741
Amortization of intangible assets 1,580 1,683 935
Provision for bad debts and returns 5,882 6,212 3,249
Tax benefits from stock-based compensation (640) 0 (81)
Non-cash stock compensation 14,320 13,739 5,736
Deferred income taxes (7,863) (5,170) 1,954
Inventory write-down 9,971 0 0
(Gain) loss on disposal of equipment (9,632) 36 (18)
Impairment of property, plant and equipment 1,481 0 761
Impairment of intangible assets 1,649 0 0
(Increase) decrease in assets:      
Receivables 86,114 (50,040) (46,562)
Inventories 160,241 (172,417) 39,362
Prepaid expenses and other current assets (38,247) (21,402) 2,812
Other assets 3,291 (7,571) (1,023)
Increase (decrease) in liabilities:      
Accounts payable (18,074) 32,828 28,136
Accrued expenses (12,354) (7,872) 8,531
Net cash provided by (used in) operating activities 164,919 (47,379) 115,109
Cash flows from investing activities:      
Capital expenditures (122,238) (82,269) (35,341)
Purchases of investments 0 0 (30,000)
Maturities of investments 0 30,000 375
Redemption of auction rate securities 0 0 95,250
Proceeds from the sale of property, plant and equipment 17,100 0 0
Intangible additions (10) (41) (4,500)
Net cash (used in) provided by investing activities (105,148) (52,310) 25,784
Cash flows from financing activities:      
Net proceeds from the issuances of stock through employee stock purchase plan and the exercise of stock options 3,321 14,040 2,807
Shares redeemed for employee tax withholdings 0 (5,604) 0
Contribution from noncontrolling interest of consolidated entity 2,115 3,500 4,000
Excess tax benefits from stock-based compensation 0 9,042 0
Increase in short-term borrowings 31,958 16,271 2,006
Proceeds from long-term debt 37,326 39,293 0
Payments on long-term debt (14,287) (9,121) (413)
Net cash provided by financing activities 60,433 67,421 8,400
Net increase (decrease) in cash and cash equivalents 120,204 (32,268) 149,293
Effect of exchange rates on cash and cash equivalents (2,618) 151 1,441
Cash and cash equivalents at beginning of year 233,558 265,675 114,941
Cash and cash equivalents at end of year 351,144 233,558 265,675
Cash paid during the year for:      
Interest 7,692 3,438 4,445
Income taxes 15,772 87,063 17,492
Non-cash transactions:      
Land contribution from noncontrolling interest 0 30,000 0
Note payable contribution from noncontrolling interest 0 17,358 0
Acquisition of Chilean distributor $ 0 $ 0 $ 4,382