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Consolidated Statement of Cash Flows Statement
$ in Thousands
12 Months Ended
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Net income (loss) $ 127,454 $ (158,486) $ 46,982
Income (loss) from discontinued operations, net of income taxes 10,506 (241,968) (22,513)
Income from continuing operations, net of income taxes 116,948 83,482 69,495
Depreciation and amortization 7,813 8,832 10,461
Stock-based compensation expense 6,332 2,810 3,712
Provision for deferred income taxes 3,570 3,498 (21,561)
Non-cash reserve for potential bad debts 0 5,967 0
Net loss (gain) on disposal of assets 319 (1,019) 502
Accounts receivable (21,603) 17,919 (3,835)
Inventories (6,359) (6,715) (7,416)
Other current assets (1,358) (2,366) 4,605
Accounts payable 18,957 3,220 1,866
Other current liabilities and accrued expenses 2,169 (9,500) (5,135)
Income taxes 356 17,994 11,085
Net cash provided by operating activities from continuing operations 127,144 124,122 63,779
Net cash (used in) provided by operating activities from discontinued operations (7,857) (19,413) 13,383
Net cash provided by operating activities 119,287 104,709 77,162
Purchases of marketable securities (763) (30,172) (6,432)
Proceeds from sale of marketable securities 7,884 21,095 14,835
Proceeds from the sale of assets 0 0 (156)
Acquisitions, net of cash acquired 0 (128) (57,138)
Purchases of property and equipment (6,821) (4,014) (3,449)
Net cash provided by (used in) investing activities from continuing operations 300 (13,219) (52,340)
Net cash used in investing activities from discontinued operations 0 (46) (2,656)
Net cash provided by (used in) investing activities 300 (13,265) (54,996)
Settlement of performance stock units 0 0 (11,198)
Purchase and retirement of common stock 0 (50,000) (25,000)
Proceeds from exercise of stock options 2,175 4,476 15,830
Other financing activities (4) (4) (2)
Net cash provided by (used in) financing activities from continuing operations 2,171 (45,528) (20,370)
Net cash used in financing activities from discontinued operations (29) (14) (13,686)
Net cash provided by (used in) financing activities 2,142 (45,542) (34,056)
EFFECT OF CURRENCY TRANSLATION ON CASH (1,932) (1,467) (950)
INCREASE (DECREASE ) IN CASH AND CASH EQUIVALENTS 119,797 44,435 (12,840)
CASH AND CASH EQUIVALENTS, beginning of period 169,720 125,285 138,125
CASH AND CASH EQUIVALENTS, end of period 289,517 169,720 125,285
Less cash and cash equivalents from discontinued operations 7,564 11,277 3,884
Cash and cash equivalents 281,953 158,443 121,401
Cash paid for interest 173 361 234
Cash paid for income taxes 5,647 7,161 5,241
Cash received for refunds of income taxes 2,232 5,377 7,261
Cash held in banks outside the United States $ 230,168 $ 116,259 $ 44,573