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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 flows from operating activities      
Net income $ 282,807 $ 279,386 $ 255,215
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on sale of fixed assets (114) (351) (96)
Gain on sale of business (18,070) 0 0
Asset impairments 795 2,473 2,747
Depreciation and amortization 35,694 33,720 35,007
Amortization of intangible assets 42,426 43,187 44,327
Amortization of debt issuance expenses 1,612 1,723 1,703
Share-based compensation expense 20,048 20,717 16,993
Deferred income taxes (339) (8,593) (3,156)
Excess tax benefit from share-based compensation (5,265) (6,275) (8,560)
Non-cash interest expense associated with forward starting swaps 7,030 7,223 7,430
Changes in (net of the effect from acquisitions and divestitures):      
Receivables 8,832 (11,110) 6,195
Inventories 4,557 (7,821) 9,088
Other current assets (2,728) (5,201) 6,562
Trade accounts payable (2,828) (2,466) 15,460
Accrued expenses (16,672) 23,760 11,790
Other — net 2,536 (2,411) 817
Net cash flows provided by operating activities 360,321 367,961 401,522
Cash flows from investing activities      
Purchases of property, plant and equipment (43,776) (47,997) (31,536)
Acquisition of businesses, net of cash acquired (195,013) (25,443) (36,849)
Proceeds from fixed asset disposals 894 1,460 567
Proceeds from sale of business 27,677 0 0
Other — net (273) (280) (344)
Net cash flows used in investing activities (210,491) (72,260) (68,162)
Cash flows from financing activities      
Borrowings under revolving credit facilities 414,032 165,014 73,101
Payment of 2.58% Senior Euro Notes (88,420) 0 0
Payments under revolving credit facilities (333,630) (61,951) (89,478)
Debt issuance costs (1,739) 0 0
Dividends paid (96,172) (85,726) (72,905)
Proceeds from stock option exercises 19,217 17,161 35,306
Excess tax benefit from share-based compensation 5,265 6,275 8,560
Purchase of common stock (210,822) (219,893) (167,503)
Unvested shares surrendered for tax withholding (3,259) (4,952) (1,902)
Other 0   (4,224)
Net cash flows used in financing activities (295,528) (184,072) (219,045)
Effect of exchange rate changes on cash and cash equivalents (35,421) (42,121) 6,450
Net increase (decrease) in cash (181,119) 69,508 120,765
Cash and cash equivalents at beginning of year 509,137 439,629 318,864
Cash and cash equivalents at end of period 328,018 509,137 439,629
Cash paid for:      
Interest 33,502 32,565 33,432
Income taxes 112,613 122,295 73,657
Significant non-cash activities:      
Contingent consideration for acquisition $ 4,705 $ 0 $ 0