Revision of Previously Issued Financial Statements- Consolidated Statement of Cash Flows (Details) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Cash flows from operating activities: | | | |
Net income | $118,550 | $63,686 | |
Adjustments to reconcile net income to net cash provided by operating activities: | | | |
Depreciation | 29,559 | 32,755 | |
Amortization of other intangible assets | 7,624 | 14,990 | |
Share-based compensation expense | 20,046 | 17,412 | |
Impairment of investments | 2,259 | 568 | |
Loss on disposal of property, plant and equipment | -44 | 3,878 | |
Excess Tax Benefit from Share-based Compensation, Operating Activities | -2,533 | -572 | |
Deferred income taxes | -3,151 | -3,561 | |
Changes in assets and liabilities, net of acquisitions: | | | |
Accounts receivable, net | -131,026 | -130,871 | |
Inventories | -30,171 | 13,496 | |
Other assets | -6,592 | -2,968 | |
Accounts payable | 111,310 | 61,423 | |
Accrued and other liabilities | 21,227 | 40,463 | |
Net cash provided by operating activities | 137,058 | 110,699 | |
Cash flows from investing activities: | | | |
Purchases of property, plant and equipment | -34,777 | -34,910 | |
Acquisitions, net of cash acquired | 0 | -650 | |
Proceeds from return of investment from strategic investment | 0 | 261 | |
Purchase of trading investments | -3,463 | -7,831 | |
Proceeds from sales of trading investments | 3,856 | 8,311 | |
Net cash used in investing activities | -36,934 | -34,819 | |
Cash flows from financing activities: | | | |
Payment of cash dividends | -43,767 | -36,123 | |
Proceeds from sales of shares upon exercise of options and purchase rights | 2,466 | 8,465 | |
Tax withholdings related to net share settlements of restricted stock units | -7,456 | -2,937 | |
Excess tax benefits from share-based compensation | 2,533 | 572 | |
Net cash used in financing activities | -47,402 | -30,023 | |
Effect of exchange rate changes on cash and cash equivalents | -5,521 | 184 | |
Net increase in cash and cash equivalents | 47,201 | 46,041 | |
Cash and cash equivalents, beginning of the period | 469,412 | 333,824 | |
Cash and cash equivalents, end of the period | 516,613 | 379,865 | |
Property, plant and equipment purchased during the period and included in period end liability accounts | 2,990 | 4,134 | |
As Reported | | | |
Cash flows from operating activities: | | | |
Net income | | 63,944 | |
Adjustments to reconcile net income to net cash provided by operating activities: | | | |
Depreciation | | 28,756 | |
Amortization of other intangible assets | | 14,990 | |
Share-based compensation expense | | 17,412 | |
Impairment of investments | | 568 | |
Loss on disposal of property, plant and equipment | | 3,878 | |
Excess Tax Benefit from Share-based Compensation, Operating Activities | | -572 | |
Deferred income taxes | | -3,559 | |
Changes in assets and liabilities, net of acquisitions: | | | |
Accounts receivable, net | | -130,265 | |
Inventories | | 14,652 | |
Other assets | | -2,968 | |
Accounts payable | | 62,931 | |
Accrued and other liabilities | | 38,118 | |
Net cash provided by operating activities | | 107,885 | |
Cash flows from investing activities: | | | |
Purchases of property, plant and equipment | | -32,096 | |
Acquisitions, net of cash acquired | | -650 | |
Proceeds from return of investment from strategic investment | | 261 | |
Purchase of trading investments | | -7,831 | |
Proceeds from sales of trading investments | | 8,311 | |
Net cash used in investing activities | | -32,005 | |
Cash flows from financing activities: | | | |
Payment of cash dividends | | -36,123 | |
Proceeds from sales of shares upon exercise of options and purchase rights | | 8,465 | |
Tax withholdings related to net share settlements of restricted stock units | | -2,937 | |
Excess tax benefits from share-based compensation | | 572 | |
Net cash used in financing activities | | -30,023 | |
Effect of exchange rate changes on cash and cash equivalents | | 184 | |
Net increase in cash and cash equivalents | | 46,041 | |
Cash and cash equivalents, beginning of the period | | 333,824 | |
Cash and cash equivalents, end of the period | | 379,865 | |
Property, plant and equipment purchased during the period and included in period end liability accounts | | 4,134 | |
Adjustments | | | |
Cash flows from operating activities: | | | |
Net income | | -258 | [1],[2] |
Adjustments to reconcile net income to net cash provided by operating activities: | | | |
Depreciation | | 3,999 | [1] |
Deferred income taxes | | -2 | [1] |
Changes in assets and liabilities, net of acquisitions: | | | |
Accounts receivable, net | | -606 | [1] |
Inventories | | -1,156 | [1] |
Other assets | | 0 | [1] |
Accounts payable | | -1,508 | [1] |
Accrued and other liabilities | | 2,345 | [1] |
Net cash provided by operating activities | | 2,814 | [1] |
Cash flows from investing activities: | | | |
Purchases of property, plant and equipment | | -2,814 | [1] |
Acquisitions, net of cash acquired | | 0 | [1] |
Purchase of trading investments | | 0 | [1] |
Proceeds from sales of trading investments | | 0 | [1] |
Net cash used in investing activities | | ($2,814) | [1] |
|
[1] | The adjustments included in these financial statements for the nine months ended December 31, 2013 primarily related to a correction to revenue that was previously recorded as an out-of-period adjustment and is now being reported in the correct period, capitalization of property, plant and equipment which was previously incorrectly expensed, pension obligation, other misstatements, and the tax impact of these adjustments. |
[2] | The adjustments included in these financial statements for the three and nine months ended December 31, 2013 primarily related to a correction to revenue that was previously recorded as an out-of-period adjustment and is now being reported in the correct period, capitalization of property, plant and equipment which was previously incorrectly expensed, pension obligation, other misstatements, and the tax impact of these adjustments. |