Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v2.3.0.15
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 307,221 $ 212,930
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 54,440 51,755
Excess tax benefits from share-based payment arrangements (24,030) (6,572)
Share-based compensation expenses 17,244 16,870
Amortization of discount and deferred financing costs 721 374
Deferred income taxes (7,000) (16,989)
Unrealized foreign exchange transaction loss (gain) 8,324 (7,536)
Write-off of deferred financing costs 914  
Foreign exchange loss from adoption of highly inflationary accounting in Venezuela   15,131
Other 1,383 2,911
Changes in operating assets and liabilities:    
Receivables (31,834) (13,965)
Inventories (51,649) (32,921)
Prepaid expenses and other current assets (3,733) 5,744
Other assets (4,742) (2,328)
Accounts payable 19,484 12,852
Royalty overrides 33,851 3,601
Accrued expenses and accrued compensation 7,579 11,622
Advance sales deposits 27,416 32,399
Increase (Decrease) in Income Taxes Payable 35,914 (16,955)
Deferred compensation plan liability 2,123 2,198
NET CASH PROVIDED BY OPERATING ACTIVITIES 393,626 271,121
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property (61,514) (42,199)
Proceeds from sale of property 213 64
Deferred compensation plan assets (527) (371)
NET CASH USED IN INVESTING ACTIVITIES (61,828) (42,506)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends paid (62,177) (38,934)
Borrowings from Long-term debt 791,700 338,000
Principal payments on long-term debt (747,896) (379,465)
Deferred financing costs (5,728)  
Share repurchases (268,795) (106,163)
Excess tax benefits from share-based payment arrangements 24,030 6,572
Proceeds from exercise of stock options and sale of stock under employee stock purchase plan 15,947 11,521
NET CASH USED IN FINANCING ACTIVITIES (252,919) (168,469)
EFFECT OF EXCHANGE RATE CHANGES ON CASH (7,908) (17,457)
NET CHANGE IN CASH AND CASH EQUIVALENTS 70,971 42,689
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 190,550 150,801
CASH AND CASH EQUIVALENTS, END OF PERIOD 261,521 193,490
CASH PAID DURING THE PERIOD    
Interest paid 6,457 7,195
Income taxes paid $ 88,079 $ 84,120