Sheet1Horizontal AnalysisVertical AnalysisConsolidated Statements of Income (In thousands, except per share amounts)Increase or (decrease) Consolidated Statements of Income (In thousands, except per share amounts)20142013AmountPercent2014Percent2013PercentNet Revenues$3,084,370$2,332,051$752,31932%Net Revenues$3,084,370100%$2,332,051100%Cost of goods sold$1,572,164$1,195,381$376,78332%Cost of goods sold1,572,16451%1,195,38151%Gross profit$1,512,206$1,136,670$375,53633%Gross profit1,512,20649%1,136,67049%Selling, general and administrative expenses$1,158,251$871,572$286,67933%Selling, general and administrative expenses1,158,25138%871,57237%Income from operations$353,955$265,098$88,85734%Income from operations353,95511%265,09811%Interest expense, net-$5,335-$2,933-$2,40282%Interest expense, net-5,335-0%-2,933-0%Other expense, net-$6,410-$1,172-$5,238447%Other expense, net-6,410-0%-1,172-0%Income before income taxes$342,210$260,993$81,21731%Income before income taxes342,21011%260,99311%Provision for income taxes$134,168$98,663$35,50536%Provision for income taxes134,1684%98,6634%Net income$208,042$162,330$45,71228%Net income$208,0427%162,3307%

Horizontal AnalysisVertical AnalysisConsolidated Balance Sheets (In thousands, except share data)Increase or (decrease) Consolidated Balance Sheets (In thousands, except share data)Dec. 31, 2014Dec. 31, 2013AmountPercentDec. 31, 2014PercentDec. 31, 2013PercentAssetsAssetsCurrent AssetsCurrent AssetsCash and cash equivlents$593,175$347,489$245,68671%Cash and cash equivlents$593,17528%$347,48922%Accounts receivable, net$279,835$209,952$69,88333%Accounts receivable, net279,83513%209,95213%Inventories$536,714$469,006$67,70814%Inventories536,71426%469,00630%Prepaid expenses and other current assets$87,177$63,987$23,19036%Prepaid expenses and other current assets87,1774%63,9874%Deferred income taxes$52,498$38,377$14,12137%Deferred income taxes52,4983%38,3772%Total current assets$1,549,399$1,128,811$420,58837%Total current assets1,549,39974%1,128,81172%Property and equipment, net$305,564$223,952$81,61236%Property and equipment, net305,56415%223,95214%Goodwill$123,256$122,244$1,0121%Goodwill123,2566%122,2448%Intangible assets, net$26,230$24,097$2,1339%Intangible assets, net26,2301%24,0972%Deferred income taxes$33,570$31,094$2,4768%Deferred income taxes33,5702%31,0942%Other long term assets$57,064$47,543$9,52120%Other long term assets57,0643%47,5433%Total assets$2,095,083$1,577,741$517,34233%Total assets$2,095,083100%$1,577,741100%Liabilities and Stockholders EquityLiabilities and Stockholders EquityCurrent liabilitiesCurrent liabilitiesRevolving credit facility$ $100,000-$100,000Revolving credit facility$ 0%$100,0006%Accounts payable$210,432$165,456$44,97627%Accounts payable210,43210%165,45610%Accrued expenses$147,681$133,729$13,95210%Accrued expenses147,6817%133,7298%Current maturities of long term debt$28,951$4,972$23,979482%Current maturities of long term debt28,9511%4,9720%Other current liabilities$34,563$22,473$12,09054%Other current liabilities34,5632%22,4731%Total current liabilities$421,627$426,630-$5,003-1%Total current liabilities421,62720%426,63027%Long term debt, net of current maturities$255,250$47,951$207,299432%Long term debt, net of current maturities255,25012%47,9513%Other long term liabilities$67,906$49,806$18,10036%Other long term liabilities67,9063%49,8063%Total liabilities$744,783$524,387$220,39642%Total liabilities744,78336%524,38733%Stockholders equityStockholders equityClass A Common Stock595724%Class A Common Stock590%570%Class B Convertible Common Stock1213-1-8%Class B Convertible Common Stock120%130%Additional paid-in capital508,350397,248111,10228%Additional paid-in capital508,35024%397,24825%Retained earnings856,687653,842202,84531%Retained earnings856,68741%653,84241%Accumulated other comprehensive income (loss)-14,8082,194-17,002-775%Accumulated other comprehensive income (loss)-14,808-1%2,1940%Total stockholders equity1,350,3001,053,354296,94628%Total stockholders equity1,350,30064%1,053,35467%Total liabilities and stockholders equity$2,095,083$1,577,741517,34233%Total liabilities and stockholders equity$2,095,083100%$1,577,741100%

Horizontal AnalysisConsolidated Statements of Cash Flows(In thousands)Year Ended December 31,20142013AmountPercentCash Flows from operating activitiesNet income$208,042$162,330$45,71228%Adjustments to reconcile net income to net cash used in operating activitiesDepreciation and amortization$72,093$50,549$21,54443%Unrealized foreign currency exchange rate losses (gains)$11,739$1,905$9,834516%Loss on disposal of property and equipment$261$332-$71-21%Stock-based compensation$50,812$43,184$7,62818%Deferred income taxes-$17,584-$18,832$1,248-7%Changes in reserves and allowances$31,350$13,945$17,405125%Changes in operating assets and liabilities, net of effects of acquisitions:Accounts receivable-$101,057-$35,960-$65,097181%Inventories-$84,658-$156,900$72,242-46%Prepaid expenses and other assets-$33,345-$19,049-$14,29675%Accounts payable$49,137$14,642$34,495236%Accrued expenses and other liabilities$28,856$56,481-$27,625-49%Income taxes payable and receivable$3,387$7,443-$4,056-54%Net cash provided by operating activities$219,033$120,070$98,96382%

Cash Flows from investing activitiesPurchases of property and equipment-$140,528-$87,830-$52,69860%Purchase of business-$10,924-$148,097$137,173-93%Purchases of other assets-$860-$475-$38581%Change in loans receivable$0-$1,700$1,700-100%Net cash used in investing activities-$152,312-$238,102$85,790-36%

Cash Flows from financing activitiesProceeds from revolving credit facility$0$100,000-$100,000-100%Payments on revolving credit facility-$100,000$0-$100,000Proceeds from term loan$250,000$0$250,000Payments on term loan-$13,750$0-$13,750Payments on long term debt-$4,972-$5,471$499-9%Excess tax benefits from stock-based compensation arrangements$36,965$17,167$19,798115%Proceeds from exercise of stock options and other stock issuances$15,776$15,099$6774%Payments of debt financing costs-$1,713$0-$1,713Net cash provided by financing activities$182,306$126,795$55,51144%

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