Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.0.8
Condensed Consolidated Statements of Cash Flows(USD ($))
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 74,628 $ 118,873
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 21,283 20,964
Excess tax benefits from share-based payment arrangements (3,154) (447)
Share-based compensation expenses 10,995 7,866
Non-cash interest expense and amortization of deferred financing and issuance costs 7,154 650
Deferred income taxes (2,313) (3,773)
Inventory write-downs 11,037 6,554
Unrealized foreign exchange transaction loss (gain) 3,390 (10,971)
Foreign exchange loss relating to Venezuela 86,108 15,116
Other 4,462 (890)
Changes in operating assets and liabilities:    
Receivables (17,953) 3,216
Inventories 14,198 (1,542)
Prepaid expenses and other current assets (23,850) (8,200)
Other assets (5,180) (15)
Accounts payable 6,224 4,900
Royalty overrides (3,703) (21,472)
Accrued expenses and accrued compensation (12,487) (15,517)
Advance sales deposits 17,416 (3,857)
Income taxes (903) 23,097
Deferred compensation plan liability 3,297 3,075
NET CASH PROVIDED BY OPERATING ACTIVITIES 190,649 137,627
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (58,517) (24,856)
Proceeds from sale of property, plant and equipment 2 24
Investments in Venezuelan bonds (3,224)  
NET CASH USED IN INVESTING ACTIVITIES (61,739) (24,832)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid (30,399) (30,904)
Dividends received 3,444  
Payments for Capped Call Transactions (123,825)  
Borrowings from Long-Term Debt 1,150,000 513,223
Principal payments on long-term debt (18,750) (25,509)
Debt issuance costs (28,837)  
Share repurchases (694,503) (164,485)
Excess tax benefits from share-based payment arrangements 3,154 447
Proceeds from exercise of stock options and sale of stock under employee stock purchase plan 60 425
NET CASH PROVIDED BY FINANCING ACTIVITIES 260,344 293,197
EFFECT OF EXCHANGE RATE CHANGES ON CASH (100,307) (17,052)
NET CHANGE IN CASH AND CASH EQUIVALENTS 288,947 388,940
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 972,974 333,534
CASH AND CASH EQUIVALENTS, END OF PERIOD 1,261,921 722,474
CASH PAID DURING THE PERIOD    
Interest paid 7,533 5,486
Income taxes paid 39,403 31,853
NON CASH ACTIVITIES    
Accrued capital expenditures $ 20,452 $ 10,070