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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income $ 68,130 $ 65,954
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 9,067 8,580
Amortization of intangible assets 10,890 9,930
Amortization of debt issuance costs 378 434
Share-based compensation expense 6,442 6,882
Deferred income taxes 2,950 1,000
Excess tax benefit from share-based compensation 0 (3,220)
Non-cash interest expense associated with forward starting swaps 1,724 1,772
Changes in (net of effect from acquisitions):    
Receivables (19,267) (18,039)
Inventories (270) (11,215)
Other current assets (6,597) (4,591)
Trade accounts payable 6,451 6,857
Accrued expenses (6,641) (14,230)
Other — net (2,892) (710)
Net cash flows provided by operating activities 70,365 49,404
Cash flows from investing activities    
Additions of property, plant and equipment (8,650) (10,077)
Acquisition of businesses, net of cash acquired 221,556 0
Other — net 91 (48)
Net cash flows used in investing activities (230,115) (10,125)
Cash flows from financing activities    
Borrowings under revolving facilities 275,391 55,000
Payments under revolving facilities (20,994) (77)
Dividends paid (24,662) (22,151)
Proceeds from stock option exercises 8,258 9,185
Excess tax benefit from share-based compensation 0 3,220
Purchase of common stock (46,864) (62,132)
Shares surrendered for tax withholding (4,717) (3,107)
Net cash flows provided by (used in) financing activities 186,412 (20,062)
Effect of exchange rate changes on cash and cash equivalents 3,765 (33,858)
Net increase (decrease) in cash 30,427 (14,641)
Cash and cash equivalents at beginning of year 328,018 509,137
Cash and cash equivalents at end of period 358,445 494,496
Cash paid for:    
Interest 965 791
Income taxes $ 9,516 $ 10,411