Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.3.0.814
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net earnings $ 222,557 $ 126,340
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization of property, plant and equipment 42,467 34,967
Amortization of deferred financing costs 687 901
Amortization of intangible assets 106 701
Provision for bad debts and returns 5,489 9,460
Non-cash share-based compensation 13,547 4,934
Deferred income taxes 2,362 24,664
Other 561 413
(Increase) decrease in assets:    
Receivables (151,003) (123,410)
Inventories (53,488) (7,800)
Prepaid expenses and other current assets (14,650) (19,155)
Other assets (9,866) 662
Increase (decrease) in liabilities:    
Accounts payable 60,332 52,703
Accrued expenses 37,254 14,250
Other long-term liabilities 2,808  
Net cash provided by operating activities 159,163 119,630
Cash flows from investing activities:    
Capital expenditures (58,199) (41,976)
Intangible asset additions (59)  
Purchases of investments (3,369)  
Proceeds from sales of investments 144  
Net cash used in investing activities (61,483) (41,976)
Cash flows from financing activities:    
Net proceeds from the issuances of common stock through employee stock purchase plan 2,238 1,721
Payments on long-term debt (16,537) (8,986)
Proceeds from long-term debt 762  
Proceeds (payments) on short-term borrowings (1,751) 3
Excess tax benefits from share-based compensation 3,420 209
Contribution from non-controlling interests of consolidated entity 485 83
Distributions to non-controlling interests of consolidated entity (37,090) (3,250)
Net cash used in financing activities (48,473) (10,220)
Net increase in cash and cash equivalents 49,207 67,434
Effect of exchange rates on cash and cash equivalents (5,213) 1,345
Cash and cash equivalents at beginning of the period 466,685 372,011
Cash and cash equivalents at end of the period 510,679 440,790
Cash paid during the period for:    
Interest 7,295 7,974
Income taxes $ 59,698 $ 24,179