| 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 | |||||||||||
467,468 | 451,779 | 257,692 | -43,421 | 206,477 | 81,272 | 164,947 | 217,049 | 369,873 | 384,820 | -133,837 | -394,227 |
Less: Income from discontinued operations | |||||||||||
- | - | - | - | - | - | - | - | 1,545 | 5,128 | 1,526 | 768 |
Less: Gain on disposal of discontinued operations | |||||||||||
- | - | - | - | - | - | - | - | 24,371 | - | - | - |
Income from continuing operations | |||||||||||
- | - | - | - | - | - | - | - | 343,957 | 379,692 | -135,363 | -394,995 |
Adjustments to reconcile net income from operations to net cash provided by operating activities: | |||||||||||
Depreciation | |||||||||||
70,800 | 67,400 | 66,100 | 64,782 | 68,181 | 73,390 | 57,317 | 55,049 | 51,040 | 52,810 | 58,594 | 71,255 |
Amortization | |||||||||||
49,821 | 45,809 | 41,953 | 55,227 | 72,592 | 79,154 | 93,370 | 90,465 | 55,641 | 40,706 | 45,817 | 23,505 |
Stock-based compensation | |||||||||||
37,897 | 33,577 | 34,097 | 30,750 | 30,451 | 40,307 | 36,612 | 39,920 | 32,337 | 29,777 | 24,354 | 22,250 |
Provision for excess and obsolete inventory | |||||||||||
15,244 | 11,242 | 8,844 | 17,493 | 21,332 | 22,193 | 16,592 | 26,849 | 11,601 | 5,971 | 24,812 | 29,363 |
Revolving credit facility issue cost charge | |||||||||||
- | - | - | - | - | - | - | - | - | - | -2,488 | 0 |
Tax benefit related to stock options and restricted stock units | |||||||||||
- | - | - | - | - | - | - | - | - | - | -1,049 | 0 |
Loss on sale of land and buildings | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -20,883 |
In-process research and development | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 1,600 |
Deferred taxes | |||||||||||
-9,456 | 28,340 | 37,105 | -62,936 | -7,124 | -19,928 | -3,316 | 5,556 | -146,949 | -1,519 | -2,745 | 1,258 |
Investment impairment | |||||||||||
15,000 | - | - | - | - | - | - | - | - | - | - | - |
Contingent consideration adjustment | |||||||||||
-19,257 | 987 | 7,820 | 15,896 | 2,489 | -630 | - | -8,761 | - | - | - | - |
Goodwill impairment | |||||||||||
- | - | - | 254,946 | - | 98,897 | 0 | - | - | - | - | 329,674 |
Acquired intangible assets impairment | |||||||||||
- | - | - | 83,339 | - | - | - | - | - | - | - | - |
Losses (gains) on investments | |||||||||||
6,033 | -3,494 | 878 | 1,050 | - | - | - | - | - | - | - | - |
Retirement plans actuarial losses (gains) | |||||||||||
-8,176 | 3,316 | 6,624 | 3,203 | -17,732 | -46,564 | 10,340 | -23,320 | -13,564 | 1,351 | - | - |
Property insurance recovery, net | |||||||||||
- | - | -4,309 | - | - | - | - | - | - | - | - | - |
Tax benefit related to employee stock compensation awards | |||||||||||
- | - | - | 6,198 | 4,715 | 535 | 2,675 | 8,490 | - | - | - | - |
Gain from the sale of an equity investment | |||||||||||
- | - | - | - | 5,406 | - | 34,212 | - | - | - | - | -16,240 |
Non-cash charge for the sale of inventories revalued at the date of acquisition | |||||||||||
- | - | - | - | 1,567 | - | - | 6,089 | 12,178 | - | 15,413 | 5,046 |
Other | |||||||||||
-766 | -1,083 | -1,585 | -602 | 34 | -2,874 | 5 | 2,250 | 794 | -2,528 | -3,225 | -1,562 |
Changes in operating assets and liabilities, net of businesses acquired: | |||||||||||
Accounts receivable | |||||||||||
70,440 | 17,938 | 80,584 | -18,325 | 57,267 | -8,060 | 3,656 | 24,093 | -66,367 | 50,418 | 19,312 | -118,196 |
Inventories | |||||||||||
27,408 | 29,498 | -44,960 | -34,263 | -15,559 | -51,803 | -22,282 | -17,652 | 615 | -3,715 | -63,185 | 3,074 |
Prepayments and other assets | |||||||||||
23,784 | 58,402 | -2,254 | 19,194 | -3,034 | -41,537 | 49,572 | 2,995 | 21,509 | -8,460 | - | - |
Accounts payable and other liabilities | |||||||||||
49,279 | 13,693 | 43,574 | 6,820 | 58,448 | -45,430 | 15,205 | -32,810 | -48,222 | 62,201 | 7,928 | -45,171 |
Other assets | |||||||||||
- | - | - | - | - | - | - | - | - | - | 1,196 | 32,709 |
Deferred revenue and customer advances | |||||||||||
39,313 | 13,379 | 4,984 | -3,634 | 17,011 | 22,033 | -28,979 | -14,627 | -68,359 | 72,744 | 43,306 | 13,574 |
Retirement plans contributions | |||||||||||
-5,086 | -4,334 | -5,902 | -6,044 | -12,095 | -33,916 | -5,540 | -4,778 | -11,851 | -52,452 | -15,291 | -7,158 |
Income taxes | |||||||||||
-13,584 | -80,429 | 173,802 | 18,434 | -5,156 | 24,417 | 680 | 19,804 | -8,727 | 8,465 | 271 | -5,008 |
Net cash used for operating activities | |||||||||||
- | - | - | - | 423,076 | 492,062 | 268,710 | 402,949 | 279,659 | 561,329 | 114,437 | 163,167 |
Net cash used for discontinued operations | |||||||||||
- | - | - | - | - | - | - | - | -4,804 | 4,957 | 7,428 | -768 |
Net cash provided by operating activities | |||||||||||
578,750 | 476,881 | 626,495 | 455,197 | - | - | - | - | 274,855 | 566,286 | 121,865 | 163,935 |
Cash flows from investing activities: | |||||||||||
Purchases of property, plant and equipment | |||||||||||
134,642 | 114,379 | 105,375 | 85,272 | 89,878 | 168,982 | 106,731 | 119,080 | 86,097 | 76,044 | 41,306 | 87,202 |
Proceeds from government subsidy for property, plant and equipment | |||||||||||
- | 7,920 | - | - | - | - | - | - | - | - | - | - |
Purchases of marketable securities | |||||||||||
662,701 | 918,744 | 1,391,917 | 1,656,267 | 1,424,002 | 1,578,743 | 1,170,506 | 748,229 | 685,823 | 870,777 | 90,369 | 135,475 |
Proceeds from maturities of marketable securities | |||||||||||
611,927 | 1,270,439 | 701,681 | 243,232 | 360,264 | 570,358 | 516,499 | 225,085 | 442,080 | 136,837 | - | - |
Proceeds from sales of marketable securities | |||||||||||
105,586 | 846,122 | 527,746 | 852,794 | 1,316,131 | 859,729 | 458,491 | 38,284 | 746,810 | 154,903 | 38,036 | 286,206 |
Purchase of investment and acquisition of businesses, net of cash acquired | |||||||||||
79,742 | 169,474 | - | - | - | - | - | - | - | - | - | - |
Acquisition of businesses, net of cash acquired | |||||||||||
- | - | - | - | 282,741 | 19,419 | 14,999 | - | 537,489 | - | 3,741 | 574,342 |
Proceeds from the sale of an equity investment | |||||||||||
- | - | - | - | 5,406 | - | 34,212 | - | - | - | - | - |
Proceeds from sales of trading marketable securities | |||||||||||
- | - | - | - | - | - | - | - | - | 26,330 | 3,000 | 0 |
Proceeds from life insurance | |||||||||||
-2,912 | -1,126 | -5,064 | -5,051 | -1,098 | -4,184 | 307 | -1,451 | 1,091 | 1,091 | 1,076 | 14,832 |
Proceeds from sale of land and buildings | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 44,072 |
Proceeds from sale of equity investments and product lines | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -2,811 |
Net cash provided by investing activities | |||||||||||
- | - | - | - | -113,722 | -332,873 | -283,341 | -602,489 | -121,610 | -627,660 | -93,304 | - |
Net cash provided by discontinued operations | |||||||||||
- | - | - | - | - | - | - | - | 39,062 | - | -626 | - |
Net cash used for investing activities | |||||||||||
-156,660 | 923,010 | -262,801 | -640,462 | - | - | - | - | -82,548 | -627,660 | -93,930 | -449,098 |
Cash flows from financing activities: | |||||||||||
Issuance of common stock under stock purchase and stock option plans | |||||||||||
29,312 | 20,973 | 24,493 | 20,473 | 19,530 | 21,291 | 17,596 | 18,477 | 17,385 | 44,679 | 15,703 | 17,817 |
Net proceeds from revolving credit facility | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 119,674 |
Repurchase of common stock | |||||||||||
500,000 | 823,478 | 200,304 | 146,331 | 299,949 | - | - | - | 31,175 | - | - | 91,192 |
Dividend payments | |||||||||||
61,305 | 67,322 | 55,447 | 48,619 | 50,713 | 37,425 | - | - | - | - | - | - |
Payments related to net settlement of employee stock compensation awards | |||||||||||
14,741 | 20,023 | 12,881 | 9,398 | 10,235 | - | - | - | - | - | - | - |
Payments of contingent consideration | |||||||||||
27,615 | 13,571 | 1,050 | 11,697 | - | - | 388 | 59,710 | - | - | - | - |
Proceeds from issuance of convertible notes, net of issuance costs | |||||||||||
- | - | - | 450,800 | - | - | - | - | - | - | - | - |
Purchase of convertible note hedges | |||||||||||
- | - | - | 100,834 | - | - | - | - | - | - | - | - |
Proceeds from issuance of warrants | |||||||||||
- | - | - | 67,852 | - | - | - | - | - | - | - | - |
Net proceeds from long-term debt | |||||||||||
- | - | - | - | - | - | - | - | - | - | 172,914 | 0 |
Repayment of revolving credit facility | |||||||||||
- | - | - | - | - | - | - | - | - | - | 122,500 | 0 |
Tax benefit related to employee stock compensation awards | |||||||||||
- | - | - | 6,198 | 4,715 | 535 | 2,675 | 8,490 | - | - | 1,049 | 0 |
Payment of revolving credit facility costs | |||||||||||
- | - | - | - | 2,253 | - | - | - | - | - | - | - |
Payments of long-term debt | |||||||||||
- | - | - | - | - | 190,972 | 2,534 | 2,533 | 2,518 | 2,305 | 1,069 | 0 |
Net cash used for financing activities | |||||||||||
-574,349 | -903,421 | -245,189 | 228,444 | -338,905 | -206,571 | 17,349 | -35,276 | -16,308 | 42,374 | 66,097 | 46,299 |
Effects of exchange rate changes on cash and cash equivalents | |||||||||||
-569 | 439 | 3,454 | - | - | - | - | - | - | - | - | -802 |
Decrease in cash and cash equivalents | |||||||||||
-152,828 | 496,909 | 121,959 | 43,179 | -29,551 | -47,382 | 2,718 | -234,816 | 175,999 | -19,000 | 94,032 | -239,666 |
Supplementary disclosure of cash flow information: | |||||||||||
Cash paid for: | |||||||||||
Interest | |||||||||||
5,996 | 6,205 | 6,446 | 446 | 301 | 4,294 | 8,590 | 8,602 | 8,645 | 8,695 | 7,106 | 1,063 |
Income taxes | |||||||||||
81,410 | 72,811 | 53,775 | 40,424 | 35,218 | 25,893 | 38,156 | 8,084 | 36,043 | -2,091 | -5,838 | 17,952 |