| SUMMARY CONSOLIDATED CASH FLOWS | |||||||||||||||
| (dollars in thousands) | |||||||||||||||
| (unaudited) | |||||||||||||||
|
For the Three Months
Ended December 31, |
For the Twelve Months
Ended December 31, | ||||||||||||||
| 2016 | 2015 | 2016 | 2015 | ||||||||||||
| Income before income taxes | 205,755 | $ | 46,896 | $ | 422,271 | $ | 181,015 | ||||||||
| Taxes paid | (50,009 | ) | (41,947 | ) | (108,635 | ) | (85,780 | ) | |||||||
| Non-cash expenses | 23,316 | 23,986 | 89,845
| 83,999 | |||||||||||
| Increase in deferred revenue | 202,912 | 22,910 | 527,034 | 113,962 | |||||||||||
| Deferred revenue recognized | (79,209 | ) | (37,396 | ) | (321,313 | ) | (163,354 | ) | |||||||
| (Decrease) increase in operating working capital, deferred charges and other | (69,483 | ) | 72,328 | (178,424 | ) | (15,343 | ) | ||||||||
| Capital spending and capitalized patent costs | (10,789 | ) | (7,625 | ) | (38,540 | ) | (33,466 | ) | |||||||
| FREE CASH FLOW | 222,493 | 79,152 | 392,238 | 81,033 | |||||||||||
| Tax benefit from share-based compensation | 625 | 331 | 625 | 2,457 | |||||||||||
| Payments on long-term debt | — | — | (230,000 | ) | — | ||||||||||
| Acquisition of patents | (100 | ) | — | (4,900 | ) | (20,000 | ) | ||||||||
| Long term investments | — | (6,029 | ) | (2,000 | ) | (12,623 | ) | ||||||||
| Proceeds from noncontrolling interests | 6,804 | 6,808 | 6,804 | 9,358 | |||||||||||
| Dividends paid | (10,286 | ) | (7,093 | ) | (31,135 | ) | (28,937 | ) | |||||||
| Share repurchases | — | (7,358 | ) | (64,685 | ) | (96,410 | ) | ||||||||
| Proceeds from other financing activities | — | — | — | 4,500 | |||||||||||
| Acquisition of business, net of cash acquired | (48,000 | ) | — | (48,000 | ) | — | |||||||||
| Proceeds from issuance of senior convertible notes | — | — | — | 316,000 | |||||||||||
| Purchase of convertible bond hedge | — | — | — | (59,376 | ) | ||||||||||
| Proceeds from issuance of warrants | — | — | — | 42,881 | |||||||||||
| Payment of debt issuance costs | — | — | — | (9,403 | ) | ||||||||||
| Net proceeds from exercise of stock options | 183 | 17 | 485 | 46 | |||||||||||
| Unrealized (loss) gain on short-term investments | (507 | ) | 436 | (379 | ) | 254 | |||||||||
| NET INCREASE IN CASH AND SHORT-TERM INVESTMENTS | $ | 171,212 | $ | 66,264 | $ | 19,053 | $ | 229,780 | |||||||
