Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.3.0.814
Condensed Consolidated Statements of Cash Flows (Unaudited)
 9 Months Ended
Sep. 30, 2015
USD ($)
Sep. 30, 2014
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 254,600,000 $ 205,400,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 72,600,000 69,200,000
Excess tax benefits from share-based payment arrangements (1,500,000) (4,200,000)
Share-based compensation expenses 34,200,000 34,400,000
Non-cash interest expense 39,800,000 31,200,000
Deferred income taxes (1,500,000) (59,000,000)
Inventory write-downs 22,300,000 17,700,000
Foreign exchange transaction (gain) loss (11,900,000) 4,000,000
Foreign exchange loss from Venezuela currency devaluation 32,900,000 200,300,000
Impairments and write-downs relating to Venezuela currency devaluation 4,300,000 27,500,000
Other 8,900,000 3,100,000
Changes in operating assets and liabilities:    
Receivables (25,100,000) (5,400,000)
Inventories (3,200,000) (58,700,000)
Prepaid expenses and other current assets 400,000 (59,200,000)
Other assets (16,800,000) (8,800,000)
Accounts payable 18,300,000 15,400,000
Royalty overrides 5,600,000 4,400,000
Accrued expenses and accrued compensation 61,700,000 11,800,000
Advance sales deposits 23,300,000 27,500,000
Income taxes (26,600,000) (11,700,000)
Deferred compensation plan liability 900,000 4,600,000
NET CASH PROVIDED BY OPERATING ACTIVITIES 493,200,000 449,500,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant and equipment (57,500,000) (140,000,000)
Proceeds from sale of property, plant and equipment 300,000  
Investments in Venezuelan bonds (100,000) (11,800,000)
Other 6,000,000  
NET CASH (USED IN) INVESTING ACTIVITIES (51,300,000) (151,800,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid 0 (30,400,000)
Dividends received 0 3,400,000
Payments for Capped Call Transactions   (123,800,000)
Proceeds from senior convertible notes   1,150,000,000
Principal payments on senior secured credit facility and other debt (202,600,000) (56,300,000)
Issuance costs relating to long-term debt and senior convertible notes (6,200,000) (28,900,000)
Share repurchases (10,700,000) (1,278,400,000)
Excess tax benefits from share-based payment arrangements 1,500,000 4,200,000
Proceeds from exercise of stock options and sale of stock under employee stock purchase plan 1,400,000 2,400,000
Other (1,300,000)  
NET CASH (USED IN) FINANCING ACTIVITIES (217,900,000) (357,800,000)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (56,200,000) (234,700,000)
NET CHANGE IN CASH AND CASH EQUIVALENTS 167,800,000 (294,800,000)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 645,400,000 973,000,000
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 813,200,000 $ 678,200,000