|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
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|
(In thousands) |
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|
(Unaudited) |
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|
Fiscal Years |
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|
2013 |
2012 |
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|
Cash flow from operating activities: |
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|
Net Income |
$ 218,166 |
$ 189,716 |
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|
Adjustments to reconcile net income to net cash provided by operating activities: |
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|
Depreciation expense |
26,736 |
23,691 |
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|
Amortization expense |
162,841 |
125,707 |
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|
Provision for doubtful accounts |
1,909 |
2,030 |
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|
Deferred income taxes |
(14,963) |
(1,369) |
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|
Stock-based compensation |
36,442 |
32,660 |
||
|
Income from equity method investments |
(20,680) |
(24,727) |
||
|
Acquisition / divestiture (gain)/loss |
1,430 |
(7,257) |
||
|
Excess tax benefit for stock-based compensation |
(13,540) |
(25,345) |
||
|
Provision for excess and obsolete inventories |
3,157 |
6,234 |
||
|
Other non-cash items |
(657) |
(4,221) |
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|
Add decrease (increase) in assets: |
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|
Accounts receivables |
(4,070) |
(24,388) |
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|
Other receivables |
2,302 |
(5,017) |
||
|
Inventories |
(11,351) |
(8,402) |
||
|
Other current and non-current assets |
(11,811) |
(7,945) |
||
|
Add increase (decrease) in liabilities: |
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|
Accounts payable |
(15,834) |
25,985 |
||
|
Accrued compensation and benefits |
4,047 |
7,889 |
||
|
Deferred revenue |
29,394 |
16,560 |
||
|
Accrued warranty expense |
675 |
(1,520) |
||
|
Other liabilities |
20,442 |
20,419 |
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|
Net cash provided by operating activities |
414,635 |
340,700 |
||
|
Cash flow from investing activities: |
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|
Acquisitions of businesses, net of cash acquired |
(258,797) |
(728,114) |
||
|
Acquisitions of property and equipment |
(70,877) |
(54,071) |
||
|
Dividends received from equity method investments |
7,672 |
13,178 |
||
|
Other |
(2,762) |
4,721 |
||
|
Net cash used in investing activities |
(324,764) |
(764,286) |
||
|
Cash flow from financing activities: |
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|
Issuance of common stock, net of tax withholdings |
47,706 |
59,187 |
||
|
Excess tax benefit for stock-based compensation |
13,540 |
25,345 |
||
|
Proceeds from debt and revolving credit lines |
407,678 |
1,199,352 |
||
|
Payments on debt and revolving credit lines |
(567,343) |
(857,477) |
||
|
Net cash provided by (used in) financing activities |
(98,419) |
426,407 |
||
|
Effect of exchange rate changes on cash and cash equivalents |
(1,996) |
329 |
||
|
Net increase (decrease) in cash and cash equivalents |
(10,544) |
3,150 |
||
|
Cash and cash equivalents - beginning of period |
157,771 |
154,621 |
||
|
Cash and cash equivalents - end of period |
$ 147,227 |
$ 157,771 |
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