Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net earnings $ 286,865 $ 270,190
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization of property, plant and equipment 59,576 47,648
Amortization of other assets 10,474 9,554
Provision for bad debts and returns 13,397 12,253
Non-cash share-based compensation 21,737 17,118
Deferred income taxes (4,694) 789
Loss (gain) on non-current assets (1,614) 916
Net foreign currency adjustments (7,431) 988
(Increase) decrease in assets:    
Receivables (164,379) (93,710)
Inventories 10,139 100,378
Prepaid expenses and other current assets (9,819) (10,696)
Other assets (7,319) (4,708)
Decrease in liabilities:    
Accounts payable (25,118) (92,581)
Accrued expenses and other long-term liabilities (6,311) (15,201)
Net cash provided by operating activities 175,503 242,938
Cash flows from investing activities:    
Capital expenditures (102,163) (80,751)
Intangible asset additions (134)  
Purchases of investments (1,890) (3,485)
Proceeds from sales of investments 284 170
Net cash used in investing activities (103,903) (84,066)
Cash flows from financing activities:    
Net proceeds from the issuances of common stock through the employee stock purchase plan 3,011 2,928
Payments on long-term debt (1,336) (15,210)
Proceeds from long-term debt 5,580  
Net proceeds from short-term borrowings 4,543 5,026
Excess tax benefits from share-based compensation   4,620
Distributions to non-controlling interests of consolidated entity (9,347) (7,945)
Contributions from non-controlling interests of consolidated entity 46 5,707
Net cash provided by (used in) financing activities 2,497 (4,874)
Net increase in cash and cash equivalents 74,097 153,998
Effect of exchange rates on cash and cash equivalents 10,299 3,302
Cash and cash equivalents at beginning of the period 718,536 507,991
Cash and cash equivalents at end of the period 802,932 665,291
Cash paid during the period for:    
Interest 4,754 4,168
Income taxes, net $ 48,305 $ 44,890