Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
CASH FLOWS FROM OPERATING ACTIVITIES      
Net Income $ 412,578 $ 299,215 $ 203,346
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 71,853 68,621 62,437
Excess tax benefits from share-based payment arrangements (27,450) (7,728) (3,266)
Share-based compensation expenses 24,133 22,969 20,907
Amortization of discount and deferred financing costs 1,007 500 491
Deferred income taxes (12,984) (33,313) (11,226)
Unrealized foreign exchange transaction loss (gain) 9,403 (7,142) 4,809
Write-off of deferred financing costs 914    
Foreign exchange loss from adoption of highly inflationary accounting in Venezuela   15,131  
Other 2,206 2,527 340
Changes in operating assets and liabilities:      
Receivables (9,687) (7,593) 2,361
Inventories (84,880) (31,516) (1,742)
Prepaid expenses and other current assets 3,229 10,254 (7,781)
Other assets (13,864) (3,485) 2,109
Accounts payable 15,427 6,650 (9,500)
Royalty overrides 44,041 15,732 9,102
Accrued expenses and accrued compensation 28,749 31,092 (3,461)
Advance sales deposits (1,538) 12,439 8,779
Income taxes 42,659 (8,807) 4,700
Deferred compensation plan liability 3,535 3,538 2,651
NET CASH PROVIDED BY OPERATING ACTIVITIES 509,331 389,084 285,056
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property, plant and equipment (90,408) (68,125) (59,768)
Proceeds from sale of property, plant and equipment 297 115 102
Deferred compensation plan assets (1,975) (1,126) (1,656)
Acquisition of business     (10,000)
NET CASH USED IN INVESTING ACTIVITIES (92,086) (69,136) (71,322)
CASH FLOWS FROM FINANCING ACTIVITIES      
Dividends paid (85,489) (53,740) (48,721)
Borrowings from Long-term debt 914,200 427,000 211,974
Principal payments on long-term debt (888,865) (499,451) (313,089)
Deferred financing costs (5,718)    
Share repurchases (321,639) (160,008) (74,641)
Excess tax benefits from share-based payment arrangements 27,450 7,728 3,266
Proceeds from exercise of stock options and sale of stock under employee stock purchase plan 22,262 15,309 7,884
NET CASH USED IN FINANCING ACTIVITIES (337,799) (263,162) (213,327)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (11,221) (17,037) (453)
NET CHANGE IN CASH AND CASH EQUIVALENTS 68,225 39,749 (46)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 190,550 150,801 150,847
CASH AND CASH EQUIVALENTS, END OF YEAR 258,775 190,550 150,801
CASH PAID DURING THE YEAR      
Interest paid 8,800 9,295 10,011
Income taxes paid $ 118,906 $ 111,497 $ 95,139