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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating Activities      
Net income $ 262,290 $ 313,404 $ 398,628
Adjustments to reconcile net income to cash provided by operations:      
Depreciation and amortization 103,248 69,795 64,734
Stock-based compensation expense 21,287 20,813 26,019
Deferred income taxes (67,423) (10,228) 4,981
Loss on disposal of property, plant and equipment 1,907 232 587
Changes in operating assets and liabilities, net of acquisitions      
Accounts receivable and unbilled accounts receivable (68,676) 19,728 21,500
Inventories (8,955) 45,340 20,147
Accounts payable (91,722) (18,932) (76,650)
Accrued income taxes 47,644 (11,759) 21,740
Accrued liabilities and customer deposits (18,891) (11,338) (14,837)
Other assets and liabilities 8,102 33,475 (16,005)
Net cash provided by operating activities 188,811 450,530 450,844
Investing Activities      
Purchase of property, plant and equipment (89,466) (50,216) (49,428)
Proceeds from disposal of property, plant and equipment 1,291 363 1,784
Acquisitions of business, net of cash acquired (921,537) (183,113) (129,550)
Deposit in escrow 733,983 (542,099) (202,942)
Net cash used for investing activities (275,729) (775,065) (380,136)
Financing Activities      
Proceeds from debt 1,216,740 1,875,000 787,400
Payments of debt (1,269,537) (1,102,748) (612,680)
Stock re-purchase 0 (212,176) (387,787)
Proceeds from exercise of stock options and other benefit plans 4,428 1,983 3,097
Payment of income tax withholding on share-based compensation (6,844) (6,658) (14,565)
Cash dividends ($0.44, $0.36, and $0.28 per share for the years ended December 31, 2017, 2016 and 2015) (42,218) (32,430) (26,963)
Net cash (used for) provided by financing activities (97,431) 522,971 (251,498)
Effect of changes in currency exchange rates 19,266 (26,143) (18,868)
(Decrease) increase in cash (165,083) 172,293 (199,658)
Cash, beginning of year 398,484 226,191 425,849
Cash, end of year $ 233,401 $ 398,484 $ 226,191