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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 29, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net income $ 176,191 $ 109,138
Adjustments to reconcile net income from operations to net cash provided by operating activities:    
Depreciation 18,489 16,651
Amortization 13,391 12,942
Stock-based compensation 10,460 9,474
Provision for excess and obsolete inventory 4,057 2,397
Deferred taxes (1,825) 1,206
Contingent consideration adjustment (10,020) 2,970
Losses (gains) on investments 4,657 (2,828)
Other 503 219
Changes in operating assets and liabilities, net of businesses acquired:    
Accounts receivable (126,779) (41,706)
Inventories 15,818 (2,917)
Prepayments and other assets (39,620) (18,648)
Accounts payable and other liabilities (35,323) (53,323)
Deferred revenue and customer advances (913) 6,455
Retirement plans contributions (1,262) (1,210)
Income taxes 15,278 (22,804)
Net cash provided by operating activities 43,102 18,016
Cash flows from investing activities:    
Purchases of property, plant and equipment (36,700) (25,711)
Purchases of marketable securities (187,119) (375,184)
Proceeds from maturities of marketable securities 98,457 141,201
Proceeds from sales of marketable securities 15,005 5,440
Acquisition of businesses, net of cash acquired 149 (6,970)
Proceeds from life insurance   273
Net cash used for investing activities (110,208) (260,951)
Cash flows from financing activities:    
Issuance of common stock under stock purchase and stock option plans 12,752 14,268
Repurchase of common stock (79,039) (156,468)
Dividend payments (16,686) (15,627)
Payments related to net settlement of employee stock compensation awards (22,070) (14,318)
Payments of contingent consideration (8,852) (27,615)
Net cash used for financing activities (113,895) (199,760)
Effects of exchange rate changes on cash and cash equivalents 571 (329)
Decrease in cash and cash equivalents (180,430) (443,024)
Cash and cash equivalents at beginning of period 773,924 926,752
Cash and cash equivalents at end of period $ 593,494 $ 483,728