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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net income $ 144,710 $ 128,936
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 150,269 65,714
Provision for doubtful accounts 978 148
Amortization of debt issuance costs 535 220
Stock-based compensation expense 6,303 2,303
Loss from disposition of property, plant and equipment 2,899 309
Gains realized from sales of securities 0 (52)
Write-off of debt issuance costs 659 0
Deferred income taxes (6,273) 58,637
Windfall tax benefits from share-based payment arrangements 0 (266)
Loss (income) from equity method investments, net of dividends 511 (223)
Gain on involuntary conversion of assets (1,555) 0
Other losses (gains), net (835) 661
Changes in operating assets and liabilities, net of effect of business acquisitions    
Accounts receivable (64,676) (36,324)
Inventories (19,244) (40,878)
Prepaid expenses and other current assets 5,572 (10,791)
Accounts payable 49,377 23,752
Accrued liabilities (121,851) (54,257)
Other, net 10,015 (8,954)
Net cash provided by operating activities 157,394 128,935
Cash flows from investing activities    
Additions to property, plant and equipment (134,285) (136,328)
Additions to cost method investment (15,000) 0
Proceeds from disposition of assets 66 104
Proceeds from involuntary conversion of assets 1,555 0
Proceeds from sales and maturities of securities 0 26,859
Purchase of securities 0 (36,637)
Settlements of derivative instruments (355) (1,219)
Net cash used for investing activities (148,019) (147,221)
Cash flows from financing activities    
Debt issuance costs (319) 0
Dividends paid (24,656) (23,700)
Distributions to noncontrolling interests (4,463) (3,985)
Proceeds from issuance of notes payable 1,874 2,050
Proceeds from drawdown of revolver 50,000 0
Restricted cash associated with term loan 154,000 0
Repayment of term loan (150,000) 0
Repayment of notes payable (2,469) (7,095)
Repayment of revolver (125,000) 0
Repurchase of common stock for treasury 0 (679)
Other 1,354 288
Net cash used for financing activities (99,679) (33,121)
Effect of exchange rate changes on cash and cash equivalents 3,442 3,858
Net decrease in cash and cash equivalents (86,862) (47,549)
Cash and cash equivalents at beginning of period 459,453 662,525
Cash and cash equivalents at end of period $ 372,591 $ 614,976