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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH PROVIDED BY OPERATING ACTIVITIES:      
Net earnings $ 241,686 $ 200,261 $ 177,015
Income items not affecting cash:      
Depreciation and amortization 49,534 57,245 62,796
Deferred income taxes 2,863 (1,242) (2,709)
Stock-based compensation arrangements 25,748 30,788 27,823
Gain on sale of certain optics assets (19,166) (4,129) 0
Other non-cash items 7,722 (791) 4,564
Changes in operating assets and liabilities, net of acquisitions:      
(Increase) decrease in accounts receivable,net 28,258 (76,705) 48,640
Decrease (increase) in inventories (74,816) 11,363 35,181
Decrease (increase) in prepaid expenses and other current assets 1,858 5,754 5,434
(Increase) decrease in other assets (4,333) (24,261) (1,520)
Increase) decrease in accounts payable 38,660 15,040 (8,617)
Increase (decrease) in deferred revenue 3,503 93 (659)
Increase (decrease) in accrued payroll and other liabilities (20,072) 17,240 36,017
(Decrease) increase in accrued income taxes (9,319) (8,501) (18,898)
Increase (decrease) in pension and other long-term liabilities 3,688 4,089 (10,102)
Cash provided by operating activities 275,814 226,244 354,965
CASH USED BY INVESTING ACTIVITIES:      
Additions to property and equipment (68,234) (61,262) (52,061)
Business acquisitions, net of cash acquired (92,260) 0 (20,073)
Proceeds from sale of certain optics assets 25,649 12,000 0
Cash used by investing activities (134,845) (49,262) (72,134)
CASH (USED) PROVIDED BY FINANCING ACTIVITIES:      
Net proceeds of long-term debt, including current portion 0 0 150,000
Repayment of long-term debt (15,000) (15,000) (11,250)
Repurchase of common stock (123,193) (139,238) (162,078)
Dividends paid (61,399) (56,513) (51,404)
Proceeds from shares issued pursuant to stock-based compensation plans 24,835 47,581 8,650
Excess tax benefit of stock options exercised 8,243 11,161 1,069
Other financing activities (24) (18) (1,100)
Cash (used) provided by financing activities (166,538) (152,027) (66,113)
Effect of exchange rate changes on cash (33,020) (36,057) 4,019
Net decrease (increase) in cash and cash equivalents (58,589) (11,102) 220,737
Cash and cash equivalents, beginning of year 531,374 542,476 321,739
Cash and cash equivalents, end of year $ 472,785 $ 531,374 $ 542,476