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
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net earnings $ 270,190 $ 222,557
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization of property, plant and equipment 47,648 42,467
Amortization of other assets 9,554 793
Provision for bad debts and returns 12,253 5,489
Non-cash share-based compensation 17,118 13,547
Deferred income taxes 789 2,362
Loss on non-current assets 916 561
Net foreign currency adjustments 988  
(Increase) decrease in assets:    
Receivables (93,710) (151,003)
Inventories 100,378 (53,488)
Prepaid expenses and other current assets (10,696) (14,650)
Other assets (4,708) (9,866)
Increase (decrease) in liabilities:    
Accounts payable (92,581) 60,332
Accrued expenses (18,417) 37,254
Other long-term liabilities 3,216 2,808
Net cash provided by operating activities 242,938 159,163
Cash flows from investing activities:    
Capital expenditures (80,751) (58,199)
Intangible asset additions   (59)
Purchases of investments (3,485) (3,369)
Proceeds from sales of investments 170 144
Net cash used in investing activities (84,066) (61,483)
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 (15,210) (16,537)
Proceeds from long-term debt   762
Proceeds from (payments on) short-term borrowings (5,027) 1,751
Excess tax benefits from share-based compensation 4,620 3,420
Distributions to non-controlling interests of consolidated entity (7,945) (37,090)
Contributions from non-controlling interests of consolidated entity 5,707 485
Net cash used in financing activities (4,874) (48,473)
Net increase in cash and cash equivalents 153,998 49,207
Effect of exchange rates on cash and cash equivalents 3,302 (5,213)
Cash and cash equivalents at beginning of the period 507,991 466,685
Cash and cash equivalents at end of the period 665,291 510,679
Cash paid during the period for:    
Interest 4,168 7,295
Income taxes, net $ 44,890 $ 59,698