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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 467,468 $ 451,779 $ 257,692
Adjustments to reconcile net income from operations to net cash provided by operating activities:      
Depreciation 70,834 67,415 66,122
Amortization 49,821 45,809 41,953
Stock-based compensation 37,897 33,577 34,097
Deferred taxes (9,456) 28,340 37,105
Provision for excess and obsolete inventory 15,244 11,242 8,844
Investment impairment 15,000    
Contingent consideration fair value adjustment (19,257) 987 7,820
(Gains) losses on investments (6,033) 3,494 (878)
Retirement plans actuarial losses (gains) 8,176 (3,316) (6,624)
Property insurance recovery, net     (4,309)
Other 766 1,083 1,585
Changes in operating assets and liabilities, net of businesses acquired:      
Accounts receivable (70,440) (17,938) (80,584)
Inventories (27,408) (29,498) 44,960
Prepayments and other assets (23,784) (58,402) 2,254
Accounts payable and other liabilities 49,279 13,693 43,574
Deferred revenue and customer advances 39,313 13,379 4,984
Retirement plans contributions (5,086) (4,334) (5,902)
Income taxes (13,584) (80,429) 173,802
Net cash provided by operating activities 578,750 476,881 626,495
Cash flows from investing activities:      
Purchases of property, plant and equipment (134,642) (114,379) (105,375)
Proceeds from government subsidy for property, plant and equipment   7,920  
Purchases of marketable securities (662,701) (918,744) (1,391,917)
Proceeds from maturities of marketable securities 611,927 1,270,439 701,681
Proceeds from sales of marketable securities 105,586 846,122 527,746
Proceeds from insurance 2,912 1,126 5,064
Purchase of investment and acquisition of businesses, net of cash acquired (79,742) (169,474)  
Net cash (used for) provided by investing activities (156,660) 923,010 (262,801)
Cash flows from financing activities:      
Issuance of common stock under stock purchase and stock option plans 29,312 20,973 24,493
Repurchase of common stock (500,000) (823,478) (200,304)
Dividend payments (61,305) (67,322) (55,447)
Payments related to net settlement of employee stock compensation awards (14,741) (20,023) (12,881)
Payments of contingent consideration (27,615) (13,571) (1,050)
Net cash used for financing activities (574,349) (903,421) (245,189)
Effects of exchange rate changes on cash and cash equivalents (569) 439 3,454
(Decrease) Increase in cash and cash equivalents (152,828) 496,909 121,959
Cash and cash equivalents at beginning of year 926,752 429,843 307,884
Cash and cash equivalents at end of year 773,924 926,752 429,843
Cash paid for:      
Interest 5,996 6,205 6,446
Income taxes $ 81,410 $ 72,811 $ 53,775