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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Operating activities      
Net income $ 93,221 $ 192,008 $ 208,712
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 31,857 30,477 31,155
Stock-based compensation expense 12,217 13,125 11,856
Loss (gain) on sale of equipment (103) 69 (146)
Deferred income taxes (3,400) (3,465) (3,145)
Changes in operating assets and liabilities:      
Trade receivables, net 106,544 36,729 (102,696)
Inventories, net 7,873 28,539 (36,814)
Prepaids and other assets 9,816 (17,883) (13,239)
Excess tax benefits of stock options and awards (135) (70) (558)
Accounts payable and accrued expenses (11,368) (89,374) 54,188
Net cash provided by operating activities 246,522 190,155 149,313
Investing activities      
Purchase of property, plant and equipment (25,763) (27,079) (42,549)
Proceeds from sale of equipment 357 424 978
Acquisition of business, net of cash acquired (132,443) 0 0
Net cash used in investing activities (157,849) (26,655) (41,571)
Financing activities      
Repurchase of common stock (24,234) (75,805) (190,234)
Proceeds from exercise of stock options 2,206 2,170 2,849
Excess tax benefits of stock options and awards 135 70 558
Net cash used in financing activities (21,893) (73,565) (186,827)
Effect of exchange rate changes on cash activities (24,619) (7,304) (6,566)
Increase (decrease) in cash and cash equivalents 42,161 82,631 (85,651)
Cash and cash equivalents at beginning of year 381,336 298,705 384,356
Cash and cash equivalents at end of year $ 423,497 $ 381,336 $ 298,705