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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash Flows from Operating Activities:    
Net income $ 228,410 $ 198,156
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 42,976 41,696
Benefit of deferred income taxes 3,426 8,638
Share-based compensation expense 13,232 12,352
Other 747 1,613
Changes in assets and liabilities:    
Accounts receivable (37,699) (32,872)
Inventories (22,911) (16,825)
Other assets and liabilities (45,822) (55,781)
Accounts payable (4,030) 3
Deferred revenue (6,849) (3,252)
Net cash provided by operating activities 171,480 153,728
Cash Flows from Investing Activities:    
Purchases of property and equipment (71,987) (51,377)
Purchase of marketable securities 0 (87)
Proceeds from the sale and maturities of marketable securities 0 284,125
Acquisition of a business (304) 0
Net cash (used) provided by investing activities (72,291) 232,661
Cash Flows from Financing Activities:    
Repayments on revolving credit facilities, net (147,519) (218,000)
Issuance of senior notes 100,000 0
Debt issuance costs (142) 0
Payment of acquisition-related contingent consideration (1,695) (1,000)
Repurchases of common stock (74,994) (189,884)
Proceeds from exercises of stock options and employee stock purchase plans 19,653 21,905
Shares withheld for statutory tax withholding on restricted stock (7,572) (8,720)
Net cash used by financing activities (112,269) (395,699)
Net effect of changes in exchange rates on cash 131 (3,806)
Net decrease in cash and cash equivalents (12,949) (13,116)
Cash and cash equivalents at beginning of period 123,794 187,675
Cash and cash equivalents at end of period 110,845 174,559
Supplemental Cash Flow Information:    
Unpaid property and equipment, reflected in accounts payable and accrued liabilities $ 11,633 $ 9,419