| Dec'19 | Dec'18 | 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 (Loss), Including Portion Attributable to Noncontrolling Interest | |||||||||||
427,792 | 377,047 | 263,269 | 222,054 | 192,135 | 181,951 | 187,794 | 178,287 | 161,754 | 141,320 | 122,235 | 116,169 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
88,011 | 83,178 | 83,140 | 78,218 | 68,956 | 58,888 | 54,596 | 52,408 | 48,202 | 45,956 | 49,773 | 47,984 |
Gain on disposal of property and equipment | |||||||||||
- | - | - | - | - | - | - | - | -615 | -1,599 | -2,474 | -835 |
Amortization on marketable securities, net | |||||||||||
- | - | - | 843 | 1,432 | - | - | - | - | - | - | - |
Impairment charge | |||||||||||
968 | 2,629 | 0 | 2,228 | 8,212 | - | - | - | - | - | - | - |
Increase (decrease) in deferred compensation liability | |||||||||||
- | - | - | - | - | - | - | - | -171 | 290 | 484 | -726 |
Gain on disposition of pharmaceutical product lines | |||||||||||
- | - | - | - | - | - | - | -3,500 | -3,000 | -3,000 | 2,000 | -1,479 |
Write-down of equine digital radiography intangible assets | |||||||||||
- | - | - | - | - | - | - | - | - | - | 1,511 | - |
Write-down of marketable securities | |||||||||||
- | - | - | - | - | - | - | - | - | - | 150 | - |
Provision for uncollectible accounts | |||||||||||
662 | 1,609 | 1,881 | 1,170 | 2,200 | 2,035 | 1,601 | 1,108 | 1,484 | 1,575 | 926 | 1,180 |
Benefit of deferred income taxes | |||||||||||
6,162 | 1,209 | -7,918 | 20,881 | 5,143 | 830 | 2,073 | -1,970 | 5,996 | -908 | 3,270 | 5,634 |
Share-based compensation expense | |||||||||||
39,278 | 25,157 | 23,517 | 19,891 | 19,884 | 18,099 | 16,539 | 15,952 | 15,496 | 13,262 | 11,623 | 10,501 |
Other | |||||||||||
1,254 | 895 | 1,007 | 986 | -472 | -160 | 614 | 410 | - | - | - | - |
Tax benefit from share-based compensation arrangements | |||||||||||
- | - | - | 14,702 | 11,315 | 16,078 | 14,158 | 14,676 | 16,007 | 18,126 | 5,194 | 6,237 |
Changes in assets and liabilities: | |||||||||||
Accounts receivable | |||||||||||
22,472 | 18,401 | 24,918 | 22,554 | 50,142 | 3,626 | 15,946 | -3,487 | 24,809 | 6,914 | 1,155 | 10,266 |
Inventories | |||||||||||
37,306 | 25,623 | 19,062 | -7,648 | 34,969 | 38,310 | 1,347 | 17,208 | 7,579 | 19,469 | -6,223 | 18,468 |
Other assets and liabilities | |||||||||||
34,788 | 39,731 | -47,418 | -12,491 | -23,525 | -11,319 | -12,187 | -3,933 | 1,339 | 13,208 | 7,842 | 3,902 |
Accounts payable | |||||||||||
1,957 | -166 | 1,391 | 2,117 | -2,468 | 6,703 | -4,399 | -2,898 | 13,015 | 3,482 | -9,156 | -4,327 |
Deferred revenue | |||||||||||
-12,360 | -7,719 | 3,551 | 7,672 | -319 | 14,195 | 6,442 | 6,888 | 7,341 | 2,370 | 925 | -805 |
Accrued liabilities | |||||||||||
- | - | - | - | - | - | - | 187 | 16,915 | 30,604 | 705 | 4,257 |
Net cash provided by operating activities | |||||||||||
459,158 | 400,084 | 373,276 | 338,943 | 221,802 | 235,846 | 245,996 | 222,408 | 217,913 | 178,833 | 174,952 | 143,308 |
Cash Flows from Investing Activities: | |||||||||||
Purchases of property and equipment | |||||||||||
154,969 | 115,751 | 74,384 | 64,787 | 82,921 | 60,523 | 77,612 | 57,618 | 49,677 | 38,908 | 50,663 | 89,971 |
Purchases of marketable securities | |||||||||||
0 | 87 | 334,164 | 227,894 | 271,958 | - | - | - | - | - | - | - |
Proceeds from the sale and maturities of marketable securities | |||||||||||
0 | 284,125 | 286,759 | 203,859 | 56,775 | - | - | - | - | - | - | - |
Proceeds from sale of equity investment | |||||||||||
- | - | - | - | - | 5,400 | - | - | - | - | - | - |
Proceeds from disposition of pharmaceutical product lines | |||||||||||
- | - | - | - | - | - | 3,500 | 3,000 | 3,000 | - | 3,377 | 7,025 |
Proceeds from sale of property and equipment | |||||||||||
- | - | - | - | - | - | - | 45 | 225 | 112 | 2,079 | - |
Acquisitions of intangible assets | |||||||||||
255 | 7,185 | 2,320 | 0 | - | 175 | 1,024 | 900 | 1,000 | 394 | 500 | 4,758 |
Investment in notes receivable and related business | |||||||||||
- | - | - | - | - | - | - | - | - | 4,000 | - | - |
Acquisitions of businesses | |||||||||||
50,304 | 22,500 | 14,579 | 1,964 | 10,302 | 25,115 | 10,923 | 2,658 | 46,757 | - | 7,914 | 3,891 |
Net cash used by investing activities | |||||||||||
-205,528 | 138,602 | -138,688 | -90,786 | -308,406 | -80,413 | -86,059 | -58,131 | -94,209 | -43,190 | -53,621 | -91,595 |
Cash Flows from Financing Activities: | |||||||||||
Borrowing (repayments) on revolving credit facilities, net | |||||||||||
-110,275 | -256,040 | 44,000 | 38,000 | 24,000 | 272,000 | 65,000 | -31,000 | 113,903 | 10,143 | -32,830 | 79,550 |
Issuance of senior notes | |||||||||||
100,000 | 0 | 0 | - | 250,097 | 200,000 | 150,000 | - | - | - | - | - |
Debt issuance costs | |||||||||||
154 | 0 | 0 | 56 | 1,380 | 1,406 | -976 | - | - | - | - | - |
Payment of acquisition-related contingent consideration | |||||||||||
2,375 | 1,266 | 0 | 4,728 | - | - | - | - | - | - | - | - |
Payment of notes payable | |||||||||||
- | - | - | - | - | 1,394 | 1,107 | 917 | 863 | 813 | 926 | 595 |
Repurchases of common stock, net | |||||||||||
301,658 | 369,319 | 282,565 | 304,086 | 401,981 | 618,158 | 367,761 | 132,268 | 255,505 | 143,090 | 83,099 | 132,342 |
Proceeds from exercises of stock options and employee stock purchase plans | |||||||||||
36,106 | 38,201 | 38,622 | 38,344 | 22,397 | 29,442 | 38,235 | 24,166 | 28,801 | 28,865 | 16,366 | 16,360 |
Shares withheld for statutory tax withholding on restricted stock | |||||||||||
8,053 | 9,375 | 8,073 | 4,372 | 5,438 | - | - | - | - | - | - | - |
Tax benefit from share-based compensation arrangements | |||||||||||
- | - | - | 14,702 | 11,315 | 16,078 | 14,158 | 14,676 | 16,007 | 18,126 | 5,194 | 6,237 |
Net cash provided (used) by financing activities | |||||||||||
-286,409 | -597,799 | -208,016 | -222,196 | -100,990 | -103,438 | -102,451 | -125,343 | -97,657 | -86,769 | -95,295 | -30,790 |
Net effect of changes in exchange rates on cash | |||||||||||
-689 | -4,768 | 6,202 | -54 | -5,948 | -8,517 | -2,414 | 1,157 | 933 | 1,313 | 1,824 | -2,415 |
Net decrease in cash and cash equivalents | |||||||||||
-33,468 | -63,881 | 32,774 | 25,907 | -193,542 | 43,478 | 55,072 | 40,091 | 26,980 | 50,187 | 27,860 | 18,508 |
Supplemental Cash Flow Information: | |||||||||||
Interest paid | |||||||||||
- | - | - | - | - | - | 5,024 | 3,944 | 3,763 | 2,598 | 2,773 | 5,076 |
Income taxes paid | |||||||||||
- | - | - | - | - | - | 67,721 | 68,921 | 44,347 | 48,113 | 45,731 | 49,547 |
Supplemental Disclosure of Non-Cash Information: | |||||||||||
Market value of common shares received from employees in connection with share-based compensation - see Note 17 | |||||||||||
- | - | - | - | - | - | - | 4,662 | 4,316 | 2,797 | 1,270 | 1,380 |
Receivable on disposition of pharmaceutical product lines | |||||||||||
- | - | - | - | - | - | - | 3,500 | 3,000 | 3,000 | - | - |