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, 2012
Dec. 31, 2011
Dec. 31, 2010
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 463,962 $ 414,959 $ 292,883
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 74,384 71,853 68,621
Excess tax benefits from share-based payment arrangements (29,684) (26,241) (8,937)
Share based compensation expenses 27,906 24,133 22,969
Amortization of discount and deferred financing costs 1,797 1,007 500
Deferred income taxes (7,758) (21,271) (33,338)
Unrealized foreign exchange transaction loss (gain) 2,121 9,403 (7,142)
Write-off of deferred financing costs   914  
Foreign exchange loss from adoption of highly inflationary accounting in Venezuela     15,131
Other 532 2,206 2,527
Changes in operating assets and liabilities:      
Receivables (28,186) (9,687) (7,593)
Inventories (82,177) (84,880) (31,516)
Prepaid expenses and other current assets 249 3,229 10,254
Other assets (5,288) (13,864) (3,485)
Accounts payable 17,034 15,427 6,650
Royalty overrides 41,868 44,041 15,732
Accrued expenses and accrued compensation 39,440 28,749 31,092
Advance sales deposits 17,790 (1,538) 12,439
Income taxes 28,042 48,565 (2,450)
Deferred compensation plan liability 5,752 3,535 3,538
NET CASH PROVIDED BY OPERATING ACTIVITIES 567,784 510,540 387,875
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property, plant and equipment (121,524) (90,408) (68,125)
Proceeds from sale of property, plant and equipment 280 297 115
Deferred compensation plan assets (3,756) (1,975) (1,126)
NET CASH USED IN INVESTING ACTIVITIES (125,000) (92,086) (69,136)
CASH FLOWS FROM FINANCING ACTIVITIES      
Dividends paid (135,091) (85,489) (53,740)
Borrowings from long-term debt 1,430,560 914,200 427,000
Principal payments on long-term debt (1,146,580) (888,865) (499,451)
Deferred financing costs (4,460) (5,718)  
Share repurchases (556,727) (321,639) (160,008)
Excess tax benefits from share-based payment arrangements 29,684 26,241 8,937
Proceeds from exercise of stock options and sale of stock under employee stock purchase plan 11,373 22,262 15,309
NET CASH USED IN FINANCING ACTIVITIES (371,241) (339,008) (261,953)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 3,216 (11,221) (17,037)
NET CHANGE IN CASH AND CASH EQUIVALENTS 74,759 68,225 39,749
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 258,775 190,550 150,801
CASH AND CASH EQUIVALENTS, END OF YEAR 333,534 258,775 190,550
CASH PAID DURING THE YEAR      
Interest paid 14,268 8,800 9,295
Income taxes paid $ 169,725 $ 118,906 $ 111,497