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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net income $ 206,084 $ 159,743
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,957 18,633
Amortization of intangible assets 20,667 23,893
Amortization of debt issuance expenses 664 659
Share-based compensation expense 13,252 12,398
Deferred income taxes (3,021) 2,414
Non-cash interest expense associated with forward starting swaps 3,259 3,323
Changes in (net of the effect from acquisitions):    
Receivables (40,044) (31,110)
Inventories (28,011) (4,796)
Other current assets 17,798 (8,446)
Trade accounts payable 5,432 6,469
Accrued expenses (21,131) (9,799)
Other - net (2,480) (801)
Net cash flows provided by operating activities 192,426 172,580
Cash flows from investing activities    
Purchases of property, plant and equipment (20,968) (19,539)
Purchase of intellectual property (4,000) 0
Other - net (861) 96
Net cash flows used in investing activities (25,829) (19,443)
Cash flows from financing activities    
Borrowings under revolving facilities 0 33,000
Payments under revolving credit facilities 0 (166,297)
Dividends paid (61,916) (54,572)
Proceeds from stock option exercises 13,616 12,984
Purchases of common stock (19,499) (9,799)
Shares surrendered for tax withholding (10,750) (5,814)
Settlement of foreign exchange contracts 6,593 4,406
Net cash flows used in financing activities (71,956) (186,092)
Effect of exchange rate changes on cash and cash equivalents (11,840) 15,352
Net increase (decrease) in cash 82,801 (17,603)
Cash and cash equivalents at beginning of year 375,950 235,964
Cash and cash equivalents at end of period 458,751 218,361
Cash paid for:    
Interest 18,223 19,052
Income taxes - net 38,190 50,709
Significant non-cash activities:    
Capital expenditures for construction of new leased facility $ 11,971 $ 0