| Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||
Net income | |||||||||
240,622 | 238,808 | 206,861 | 179,413 | 191,419 | 170,487 | 89,780 | 195,041 | 228,513 | 266,548 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
114,017 | 122,888 | 122,354 | 122,408 | 129,348 | 138,796 | 150,618 | 132,141 | 123,473 | 129,437 |
Write-off impairment on marketable securities | |||||||||
0 | 86 | 0 | 0 | 254 | 616 | 15,977 | 1,284 | 3,017 | 10,514 |
Acquired IPR&D | |||||||||
- | - | - | - | - | - | - | - | - | 1,000 |
Other-than-temporary impairment of available for sale marketable securities | |||||||||
- | - | - | - | - | - | - | - | - | 17,885 |
Stock-based compensation | |||||||||
13 | 70 | 139 | 322 | 440 | 3,028 | 1,996 | 5,211 | 5,134 | 5,067 |
Amortization of Series A Notes discount (premium) and related issuance costs, net | |||||||||
-92 | -92 | -92 | -91 | -92 | 153 | 422 | -258 | - | - |
Deferred income taxes and reserve, net | |||||||||
28,774 | 2,683 | 15,928 | -47,456 | 221 | 6,579 | -8,777 | -28,162 | 7,606 | -8,488 |
Loss (gain) on sale of property, plant and equipment | |||||||||
2,440 | 3,347 | -1,742 | 3,266 | 147 | -1,197 | 1,645 | 1,426 | 723 | 1 |
Loss (gain) on sale of investments and deconsolidation of subsidiary | |||||||||
-1,358 | 16,734 | -33 | 4,957 | -873 | 829 | -2,189 | 19,151 | 2,734 | -100,031 |
Equity in net (earnings) losses of affiliated companies and partnerships, net of dividend received() | |||||||||
1,987 | 1,728 | -19,999 | -7,449 | -468 | 1,602 | 270 | 8,791 | 1,824 | 1,866 |
Changes in operating assets and liabilities, net of amounts acquired: | |||||||||
Decrease (increase) in short and long-term trade receivables, and prepaid expenses | |||||||||
315,236 | 297,439 | -31,860 | 67,177 | 108,337 | - | - | - | - | - |
Increase in short and long-term trade receivables, and prepaid expenses | |||||||||
- | - | - | - | - | 91,988 | 65,062 | 84,708 | 136,224 | 39,698 |
Decrease (increase) in inventories, net | |||||||||
59,699 | 8,040 | -39,801 | 112,747 | 4,785 | -10,022 | 95,363 | 49,724 | -75,431 | 169,482 |
Increase (decrease) in trade payables, other payables and accrued expenses | |||||||||
63,273 | 253,413 | -74,280 | 81,687 | 55,935 | -75,426 | 17,225 | 76,807 | 20,223 | 120,734 |
Severance, pension and termination indemnities, net | |||||||||
2,003 | 315 | -799 | 6,282 | -3,595 | -10,612 | 1,879 | 4,160 | -16,773 | 15,211 |
Increase (decrease) in advances received from customers | |||||||||
30,287 | -82,881 | 71,282 | 15,970 | -95,027 | 47,962 | 81,946 | -36,396 | -95,397 | -37,402 |
Net cash provided by operating activities | |||||||||
100,893 | 208,002 | 434,828 | 177,837 | 166,975 | 198,383 | 190,915 | 186,028 | 209,722 | 209,428 |
CASH FLOWS FROM INVESTING ACTIVITIES | |||||||||
Purchase of property, plant and equipment and other assets | |||||||||
107,880 | 124,221 | 99,175 | 71,211 | 63,019 | 81,637 | 121,977 | 138,644 | 107,893 | 129,241 |
Acquisitions of subsidiaries and business operations (Schedule A) | |||||||||
25,440 | 0 | 141,436 | -787 | 0 | 0 | 12,173 | 229,556 | 48,234 | 20,637 |
Investments in affiliated companies and other companies | |||||||||
4,964 | 19,277 | 23,852 | 4,620 | 6,222 | 4,241 | 13,555 | 4,956 | 19,415 | 4,001 |
Deconsolidation of subsidiary() | |||||||||
0 | 1,538 | 0 | 0 | - | - | - | - | - | - |
Proceeds from sale of property, plant and equipment | |||||||||
6,270 | 15,745 | 11,563 | 24,969 | 3,755 | 7,335 | 15,059 | 10,667 | 9,055 | 8,779 |
Proceeds from sale of investments | |||||||||
12,067 | 0 | 0 | 110 | 3,550 | 705 | 329 | 27,941 | 33,026 | 50,254 |
Investment in long-term deposits | |||||||||
1,396 | 417 | 396 | 796 | 2,076 | 779 | 609 | 14,484 | 24,004 | 19,166 |
Proceeds from sale of long-term deposits | |||||||||
176 | 894 | 721 | 790 | 795 | 2,849 | 40,396 | 30,240 | 12,994 | 939 |
Investment in short-term deposits and available-for-sale marketable securities | |||||||||
40,893 | 25,622 | 57,175 | 89,521 | 52,975 | 340,899 | 88,842 | 189,345 | 152,457 | 62,518 |
Proceeds from sale of short-term deposits and available-for-sale marketable securities | |||||||||
46,491 | 36,619 | 128,187 | 59,374 | 42,899 | 299,029 | 126,306 | 252,550 | 99,625 | 3,884 |
Net cash used in investing activities | |||||||||
-115,569 | -117,817 | -181,563 | -80,118 | -73,293 | -117,638 | -55,066 | -255,587 | -197,303 | -171,707 |
CASH FLOWS FROM FINANCING ACTIVITIES | |||||||||
Proceeds from exercise of options | |||||||||
119 | 505 | 1,616 | 3,542 | 18,364 | 1,352 | 3,833 | 3,590 | 9,871 | 188 |
Purchase of non-controlling interests | |||||||||
- | - | - | - | - | - | 71,000 | - | 110,250 | - |
Repayment of long-term loans | |||||||||
167,425 | 48,250 | 226,635 | 345,839 | 230,532 | 319,601 | 73,666 | 488,657 | 148,652 | 333,590 |
Proceeds from long-term loans | |||||||||
118,623 | 0 | 196,550 | 376,500 | 242,247 | 122,038 | 172,303 | 387,692 | 256,354 | 183,211 |
Proceeds from issuance of Series A Notes | |||||||||
- | - | - | - | - | 246,973 | 0 | 283,213 | - | - |
Series A Notes issuance costs | |||||||||
- | - | - | - | - | 2,035 | 0 | 2,530 | - | - |
Purchase of treasury shares | |||||||||
- | - | - | - | - | 26,006 | 10,101 | - | - | - |
Repayment of Series A Notes | |||||||||
55,532 | 55,532 | 55,532 | 55,532 | 55,535 | 53,530 | 29,998 | - | - | - |
Purchase of convertible debentures of a subsidiary | |||||||||
- | - | - | - | - | - | 2,121 | - | - | - |
Dividends paid () | |||||||||
75,300 | 68,447 | 69,792 | 68,277 | 75,549 | 50,616 | 61,633 | 63,137 | 76,172 | 32,770 |
Tax benefit in respect of options exercised | |||||||||
- | - | - | - | - | 161 | 169 | 710 | - | 116 |
Change in short-term bank credit and loans, net | |||||||||
127,455 | 5,027 | -557 | 557 | -181 | -2,817 | -12,117 | -40,972 | -7,531 | -13,008 |
Net cash provided by (used in) financing activities | |||||||||
-52,060 | -166,697 | -154,350 | -89,049 | -101,186 | -84,081 | -84,331 | 79,909 | -76,380 | -195,853 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | |||||||||
-66,736 | -76,512 | 98,915 | 8,670 | -7,504 | -3,336 | 51,518 | 10,350 | -63,961 | -158,132 |
dividend received from affiliated companies and partnership | |||||||||
9,374 | 3,496 | 24,541 | 12,998 | 13,500 | 9,558 | 15,107 | 10,925 | 17,468 | 12,569 |
SUPPLEMENTAL CASH FLOW ACTIVITIES: | |||||||||
Cash paid during the year for: | |||||||||
Income taxes, net | |||||||||
47,707 | 28,603 | 37,410 | 17,347 | 33,223 | 5,734 | 18,955 | 60,759 | 47,946 | 30,827 |
Interest | |||||||||
9,379 | 6,254 | 3,631 | 5,078 | 6,046 | 19,168 | 10,258 | 13,524 | 11,665 | 21,356 |