|
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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|
2014 |
2013 |
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|
Cash flow from operating activities: |
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|
Net Income |
$ 213,888 |
$ 218,166 |
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|
Adjustments to reconcile net income to net cash provided by |
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|
operating activities: |
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|
Depreciation expense |
33,129 |
26,736 |
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|
Amortization expense |
158,512 |
162,841 |
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|
Provision for doubtful accounts |
3,747 |
1,909 |
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|
Deferred income taxes |
(1,650) |
(14,963) |
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|
Stock-based compensation |
43,398 |
36,442 |
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|
Income from equity method investments |
(12,368) |
(20,680) |
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|
Gain (loss) on an equity sale |
(15,091) |
- |
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|
Acquisition / divestiture (gain)/loss |
2,899 |
1,430 |
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|
Excess tax benefit for stock-based compensation |
(14,098) |
(13,540) |
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|
Provision for excess and obsolete inventories |
4,817 |
3,157 |
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|
Other non-cash items |
4,653 |
(657) |
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|
Add decrease (increase) in assets: |
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|
Accounts receivables |
(10,882) |
(4,070) |
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|
Other receivables |
(2,321) |
2,302 |
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|
Inventories |
(31,778) |
(11,351) |
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|
Other current and non-current assets |
(7,101) |
(11,811) |
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|
Add increase (decrease) in liabilities: |
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|
Accounts payable |
(7,185) |
(15,834) |
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|
Accrued compensation and benefits |
527 |
4,047 |
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|
Deferred revenue |
45,865 |
29,394 |
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|
Accrued warranty expense |
3,045 |
675 |
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|
Other liabilities |
(4,923) |
20,442 |
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|
Net cash provided by operating activities |
407,083 |
414,635 |
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|
Cash flow from investing activities: |
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|
Acquisitions of businesses, net of cash acquired |
(307,945) |
(258,797) |
||
|
Acquisitions of property and equipment |
(47,312) |
(70,877) |
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|
Acquisitions of intangible assets |
(7,633) |
(242) |
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|
(Purchases) sales of equity method investments |
(10,939) |
2,430 |
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|
Dividends received from equity method investments |
32,231 |
7,672 |
||
|
Other |
(2,448) |
(4,950) |
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|
Net cash used in investing activities |
(344,046) |
(324,764) |
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|
Cash flow from financing activities: |
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|
Issuance of common stock, net of tax withholdings |
56,095 |
47,707 |
||
|
Repurchase and retirement of common stock |
(97,757) |
- |
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|
Excess tax benefit for stock-based compensation |
14,098 |
13,540 |
||
|
Proceeds from debt and revolving credit lines |
816,166 |
407,678 |
||
|
Payments on debt and revolving credit lines |
(840,126) |
(567,344) |
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|
Net cash used in financing activities |
(51,524) |
(98,419) |
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|
Effect of exchange rate changes on cash and cash equivalents |
(10,741) |
(1,996) |
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|
Net decrease in cash and cash equivalents |
773 |
(10,544) |
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|
Cash and cash equivalents - beginning of period |
147,227 |
157,771 |
||
|
Cash and cash equivalents - end of period |
$ 148,000 |
$ 147,227 |
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