Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 260,000,000 $ 339,100,000 $ 308,700,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 98,300,000 98,000,000 93,200,000
Excess tax benefits from share-based payment arrangements (400,000) (4,100,000) (10,400,000)
Share-based compensation expenses 40,200,000 44,900,000 45,700,000
Non-cash interest expense 55,700,000 56,200,000 43,500,000
Deferred income taxes (36,400,000) (38,200,000) (84,800,000)
Inventory write-downs 15,800,000 25,300,000 24,500,000
Foreign exchange transaction gain (700,000) (6,300,000) (6,200,000)
Foreign exchange loss and other charges relating to Venezuela 4,500,000 37,200,000 227,800,000
Other (11,800,000) 6,500,000 6,100,000
Changes in operating assets and liabilities:      
Receivables   (6,200,000) 6,000,000
Inventories (71,600,000) (30,500,000) (99,400,000)
Prepaid expenses and other current assets 21,100,000 4,400,000 (34,900,000)
Other assets (26,300,000) (21,300,000) (36,700,000)
Accounts payable (1,300,000) 6,000,000 (5,200,000)
Royalty overrides 20,900,000 21,600,000 6,700,000
Accrued expenses and accrued compensation 22,900,000 71,100,000 (11,500,000)
Advance sales deposits (11,100,000) 2,300,000 10,400,000
Income taxes (15,500,000) 21,800,000 22,200,000
Deferred compensation plan liability 3,000,000 900,000 5,700,000
NET CASH PROVIDED BY OPERATING ACTIVITIES 367,300,000 628,700,000 511,400,000
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property, plant and equipment (143,400,000) (79,000,000) (173,700,000)
Investments in Venezuelan bonds   (100,000) (12,600,000)
Deposit in escrow     (15,000,000)
Other 2,100,000 5,700,000  
NET CASH USED IN INVESTING ACTIVITIES (141,300,000) (73,400,000) (201,300,000)
CASH FLOWS FROM FINANCING ACTIVITIES      
Dividends paid 0 0 (30,400,000)
Dividends received 0 0 3,400,000
Payments for Capped Call Transactions     (123,800,000)
Borrowings from senior secured credit facility and other debt 200,000,000   50,000,000
Proceeds from senior convertible notes     1,150,000,000
Principal payments on senior secured credit facility and other debt (438,800,000) (227,600,000) (131,300,000)
Issuance costs relating to long-term debt and senior convertible notes   (6,200,000) (28,900,000)
Share repurchases (13,200,000) (16,600,000) (1,291,900,000)
Excess tax benefits from share-based payment arrangements 400,000 4,100,000 10,400,000
Other (700,000) (3,700,000) 3,000,000
NET CASH USED IN FINANCING ACTIVITIES (252,300,000) (250,000,000) (389,500,000)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (19,500,000) (60,900,000) (248,200,000)
NET CHANGE IN CASH AND CASH EQUIVALENTS (45,800,000) 244,400,000 (327,600,000)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 889,800,000 645,400,000 973,000,000
CASH AND CASH EQUIVALENTS, END OF YEAR 844,000,000 889,800,000 645,400,000
CASH PAID DURING THE YEAR      
Interest paid 45,400,000 50,500,000 39,200,000
Income taxes paid $ 162,900,000 $ 168,400,000 $ 180,800,000