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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities:    
Net income $ 225,475 $ 198,666
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 76,135 75,057
Equity-based compensation 12,841 11,303
Deferred income taxes 9,545 7,716
Other adjustments 30 (104)
Changes in certain assets and liabilities:    
Accounts receivable (118,818) (153,364)
Inventories (80,711) (86,819)
Other assets (105) 2,094
Accounts payable 66,332 133,809
Income taxes receivable/payable 63,962 96,319
Accrued expenses (76,751) (44,247)
Net cash provided by operating activities 177,935 240,430
Investing activities:    
Purchases of property, plant and equipment (50,606) (41,677)
Purchase of short term investments (40,000)  
Other investing activities 229 26,918
Net cash used in investing activities (90,377) (14,759)
Financing activities:    
Issuance of current and long-term debt 93,058  
Repayment of current and long-term debt (113,034) (1,429)
Dividends paid (36,797) (34,130)
Purchases of treasury stock (69,269) (61,256)
Other financing activities (5,180) (3,532)
Net cash provided by (used in) financing activities (131,222) (100,347)
Increase (decrease) in cash and equivalents (43,664) 125,324
Cash and equivalents at beginning of period 1,035,085 848,105
Cash and equivalents at end of period 991,421 973,429
Supplemental disclosure information:    
Cash paid for interest 8,629 12,649
Cash paid for income taxes, net $ (1,045) $ 1,554