| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Consolidated net income | ||||||||||
198,000 | 181,000 | 80,300 | 154,500 | 104,900 | 59,600 | 81,800 | 78,200 | 94,000 | 96,800 | 81,000 |
Adjustments to reconcile consolidated net income to cash flows from operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
75,600 | 64,900 | 63,900 | 54,300 | 53,300 | 59,700 | 61,300 | 59,100 | 52,900 | 36,100 | 29,700 |
Write-down of demonstration inventories to net realizable value | ||||||||||
- | - | - | - | - | 28,200 | 32,700 | 31,500 | 30,000 | 24,400 | 26,100 |
Amortization of deferred financing costs | ||||||||||
- | - | - | - | - | - | - | - | - | - | 700 |
Impairment of assets | ||||||||||
- | - | - | - | - | - | - | 23,800 | - | - | - |
Stock-based compensation expense | ||||||||||
9,600 | 11,300 | 11,000 | 9,400 | 8,000 | 9,400 | 6,600 | 7,800 | 7,900 | 6,900 | 6,300 |
Deferred income taxes | ||||||||||
-5,400 | -15,100 | 28,200 | -22,700 | -29,400 | -9,200 | 7,400 | -11,700 | -4,800 | -3,600 | -2,100 |
Gain (loss) on disposal of product lines | ||||||||||
- | - | - | - | -200 | 8,300 | 900 | 2,200 | - | - | 1,300 |
Other non-cash expenses, net | ||||||||||
10,100 | 39,800 | 11,600 | 24,100 | 45,900 | 14,200 | 2,100 | -4,900 | -1,200 | -1,900 | 200 |
Changes in operating assets and liabilities, net of acquisitions and divestitures: | ||||||||||
Accounts receivable | ||||||||||
5,000 | 30,500 | 55,500 | 8,400 | -45,000 | 14,500 | 19,300 | -1,600 | 52,800 | 27,300 | 9,400 |
Inventories | ||||||||||
60,200 | 35,500 | 6,600 | 43,200 | 5,400 | -4,600 | -5,700 | 49,500 | 103,300 | 68,000 | 4,400 |
Accounts payable and accrued expenses | ||||||||||
15,900 | 5,000 | 33,700 | -19,600 | 12,600 | 9,000 | 7,000 | 4,600 | 23,400 | 29,600 | 5,700 |
Income taxes payable, net | ||||||||||
13,100 | 4,000 | 5,200 | -26,800 | 22,700 | 5,600 | -28,700 | -13,000 | -800 | 20,600 | - |
Deferred revenue | ||||||||||
7,300 | 7,100 | 4,000 | 4,900 | 3,800 | 12,900 | 4,600 | -4,400 | 17,400 | 15,500 | - |
Customer advances | ||||||||||
4,200 | 3,500 | -27,800 | -7,300 | 1,400 | -48,200 | -12,100 | -4,600 | 31,300 | 27,900 | 8,500 |
Other assets | ||||||||||
- | - | - | - | - | - | - | - | - | - | -2,000 |
Other changes in operating assets and liabilities, net | ||||||||||
49,800 | -4,200 | -6,400 | -11,600 | 33,800 | 8,700 | 3,200 | -7,000 | 8,700 | 4,700 | 7,200 |
Net cash provided by operating activities | ||||||||||
213,400 | 239,700 | 154,400 | 130,800 | 229,200 | 114,300 | 145,000 | 133,100 | 87,700 | 156,100 | 149,800 |
Cash flows from investing activities: | ||||||||||
Purchases of short-term investments | ||||||||||
6,400 | - | 118,500 | 126,500 | 159,400 | 211,600 | - | - | - | - | - |
Maturities of short-term investments | ||||||||||
- | 117,000 | 186,800 | 165,000 | 118,700 | 19,000 | - | - | - | - | - |
Cash paid for acquisitions, net of cash acquired | ||||||||||
90,000 | 191,600 | 66,300 | 24,300 | 28,600 | 3,900 | 11,600 | 27,000 | 14,300 | 269,800 | 1,900 |
Proceeds from disposal of product lines | ||||||||||
- | - | - | - | 200 | 25,300 | 500 | 3,300 | - | - | - |
Purchases of property, plant and equipment | ||||||||||
73,000 | 49,200 | 43,700 | 37,100 | 34,200 | 33,800 | 50,300 | 72,800 | 61,600 | 31,900 | 16,300 |
Proceeds from sales of property, plant and equipment | ||||||||||
11,000 | 400 | 11,500 | 1,100 | 900 | 3,100 | 1,400 | 3,300 | 7,200 | 2,700 | - |
Net cash used in investing activities | ||||||||||
-158,400 | -123,400 | -30,200 | -21,800 | -102,400 | -201,900 | -60,000 | -93,200 | -68,700 | -299,000 | -18,200 |
Repayments of Note Purchase Agreement | ||||||||||
15,000 | - | 20,000 | - | - | - | - | - | - | - | - |
Proceeds from 2019 Note Purchase Agreement | ||||||||||
297,900 | - | - | - | - | - | - | - | - | - | - |
(Repayments) proceeds of revolving lines of credit | ||||||||||
- | - | - | - | - | - | - | - | - | - | -62,400 |
Proceeds from 2019 Term Loan Agreement | ||||||||||
300,000 | - | - | - | - | - | - | 240,000 | - | - | - |
Repayments of revolving lines of credit | ||||||||||
361,900 | 218,100 | 130,000 | - | 129,500 | - | - | 216,500 | - | - | - |
Proceeds from term debt | ||||||||||
- | - | - | - | - | - | - | - | - | - | 1,600 |
Proceeds from revolving lines of credit | ||||||||||
250,600 | 129,400 | 154,000 | 146,000 | 42,000 | - | 19,500 | 93,000 | 30,700 | 185,000 | - |
Repayment of other debt, net | ||||||||||
-4,600 | -4,800 | -900 | -100 | -600 | 800 | 1,600 | 83,200 | 29,300 | 21,600 | 23,900 |
Payment of deferred financing costs | ||||||||||
4,400 | - | - | - | - | - | - | 1,400 | 1,300 | - | - |
Proceeds from issuance of common stock, net | ||||||||||
10,900 | 9,400 | 20,000 | 11,500 | 10,800 | 7,900 | 8,200 | 4,500 | 3,300 | 6,000 | 1,500 |
Payment of contingent consideration | ||||||||||
6,200 | 2,300 | 3,500 | - | 3,000 | - | - | - | - | - | - |
Payment of dividends | ||||||||||
25,000 | 25,100 | 25,400 | 25,800 | - | - | - | - | - | - | - |
Repurchase of common stock | ||||||||||
142,300 | - | 152,200 | 160,000 | 90,000 | - | - | - | - | - | - |
Changes in restricted cash | ||||||||||
- | - | - | - | - | 700 | 1,000 | -1,400 | 100 | -1,300 | -1,500 |
Cash payments to noncontrolling interest | ||||||||||
- | 900 | 1,000 | 700 | 1,300 | 1,100 | 600 | 600 | 400 | 100 | - |
Excess tax benefits related to stock option awards | ||||||||||
- | - | - | 1,200 | 2,200 | - | - | - | 200 | 300 | 600 |
Net cash provided by (used in) financing activities | ||||||||||
300,000 | -112,400 | -159,000 | -27,900 | -169,400 | 6,700 | 26,500 | 34,400 | 3,300 | 168,300 | -84,100 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||
600 | -6,500 | 17,800 | -6,400 | -11,000 | -38,300 | 16,600 | -9,700 | -6,700 | -2,100 | -6,600 |
Net change in cash, cash equivalents and restricted cash | ||||||||||
355,600 | -2,600 | -17,000 | 74,700 | -53,600 | -119,200 | 128,100 | 64,600 | 15,600 | 23,300 | 40,900 |
Supplemental cash flow information: | ||||||||||
Cash paid for interest | ||||||||||
16,000 | 11,700 | 15,200 | 12,500 | 12,200 | 12,700 | 12,700 | 10,100 | 6,700 | 4,500 | 6,300 |
Cash paid for taxes | ||||||||||
61,300 | 60,500 | 53,100 | 72,400 | 56,600 | 55,900 | 84,300 | 79,900 | 69,700 | 38,700 | 54,200 |
Non-cash financing activities: | ||||||||||
Issuance of common stock in connection with acquisition of Michrom Bioresources Inc. | ||||||||||
- | - | - | - | - | - | - | - | 2,900 | - | - |