XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 38,656 $ 37,459
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 7,113 6,718
Provision for doubtful accounts 231 39
Noncash stock compensation 706 590
Deferred tax benefit (2,556) (508)
Change in fair value of derivatives 314 670
Changes in:    
Accounts receivable (48,735) (44,778)
Inventories (4,979) (10,737)
Other assets 71 (2,106)
Accounts payable and accrued expenses (7,784) (6,189)
Income taxes, net 4,391 6,346
Net cash used in operating activities (12,572) (12,496)
Cash flows from investing activities:    
Purchases of short-term investments (48,629) (56,216)
Proceeds from sale of short-term investments 15,621 141,009
Purchases of equipment and leasehold improvements (4,260) (2,500)
Payment for intangible assets acquired (642) (119,541)
Net cash used in investing activities (37,910) (37,248)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 0 111,440
Repayments of long-term debt (16,567) (6,404)
Proceeds from exercise of options 1,235 451
Proceeds from sale of stock of subsidiary 1,449 690
Dividends paid (13,349) (11,775)
Dividends paid to noncontrolling interest (4,863) (3,836)
Purchase of stock of subsidiary (2,470) 0
Net cash provided by (used in) financing activities (34,565) 90,566
Effect of exchange rate changes on cash 4,032 (6,431)
Net increase (decrease) in cash and cash equivalents (81,015) 34,391
Cash and cash equivalents - beginning of period 176,967 90,138
Cash and cash equivalents - end of period 95,952 124,529
Cash paid for:    
Interest 1,758 1,688
Income taxes $ 18,881 $ 16,692