v2.4.1.9
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 28, 2015
Mar. 29, 2014
Operating Activities:    
Net income $ 66,793us-gaap_NetIncomeLoss $ 118,818us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 12,280us-gaap_Depreciation 11,672us-gaap_Depreciation
Amortization 6,584us-gaap_AdjustmentForAmortization 6,740us-gaap_AdjustmentForAmortization
Gain (loss) on sale of property and equipment 24us-gaap_GainLossOnSaleOfPropertyPlantEquipment (617)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Provision for doubtful accounts (1,080)us-gaap_ProvisionForDoubtfulAccounts (189)us-gaap_ProvisionForDoubtfulAccounts
Deferred income taxes (3,647)us-gaap_DeferredIncomeTaxesAndTaxCredits 5,942us-gaap_DeferredIncomeTaxesAndTaxCredits
Unrealized foreign currency loss (gain) 47,877us-gaap_ForeignCurrencyTransactionGainLossUnrealized (15,334)us-gaap_ForeignCurrencyTransactionGainLossUnrealized
Provision for obsolete and slow moving inventories 4,344us-gaap_InventoryWriteDown 3,384us-gaap_InventoryWriteDown
Stock compensation expense 7,769us-gaap_ShareBasedCompensation 6,325us-gaap_ShareBasedCompensation
Realized (gain) loss on marketable securities (340)us-gaap_GainLossOnSaleOfInvestments 1,544us-gaap_GainLossOnSaleOfInvestments
Changes in operating assets and liabilities:    
Accounts receivable 129,448us-gaap_IncreaseDecreaseInAccountsReceivable 137,198us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories (56,897)us-gaap_IncreaseDecreaseInInventories (64,083)us-gaap_IncreaseDecreaseInInventories
Other current and non-current assets (11,537)us-gaap_IncreaseDecreaseInOtherOperatingAssets (1,591)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable (25,957)us-gaap_IncreaseDecreaseInAccountsPayable (20,411)us-gaap_IncreaseDecreaseInAccountsPayable
Other current and non-current liabilities (73,408)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (80,011)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Deferred revenue (29,870)us-gaap_IncreaseDecreaseInDeferredRevenue (45,290)us-gaap_IncreaseDecreaseInDeferredRevenue
Deferred cost 6,470us-gaap_IncreaseDecreaseInDeferredCharges 8,129us-gaap_IncreaseDecreaseInDeferredCharges
Income taxes payable 2,802us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable (1,053)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Net cash provided by operating activities 81,655us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 71,173us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Investing activities:    
Purchases of property and equipment (18,143)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (15,537)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Proceeds from sale of property and equipment 664us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 609us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Purchase of intangible assets (717)us-gaap_PaymentsToAcquireIntangibleAssets (1,111)us-gaap_PaymentsToAcquireIntangibleAssets
Purchase of marketable securities (254,741)us-gaap_PaymentsToAcquireMarketableSecurities (298,695)us-gaap_PaymentsToAcquireMarketableSecurities
Redemption of marketable securities 308,751us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities 223,786us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities
Proceeds from repayment on loan receivable 0us-gaap_PaymentsForProceedsFromLoansReceivable 94,507us-gaap_PaymentsForProceedsFromLoansReceivable
Change in restricted cash (5)us-gaap_IncreaseDecreaseInRestrictedCash 3us-gaap_IncreaseDecreaseInRestrictedCash
Acquisitions, net of cash acquired (12,632)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Net cash provided by investing activities 23,177us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations 3,562us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Financing activities:    
Dividends paid (91,964)us-gaap_PaymentsOfDividends (87,853)us-gaap_PaymentsOfDividends
Purchase of treasury stock under share repurchase plan (16,260)grmn_PaymentsForPurchaseOfTreasuryStockShareRepurchasePlan (32,986)grmn_PaymentsForPurchaseOfTreasuryStockShareRepurchasePlan
Purchase of treasury stock related to equity awards (89)grmn_PaymentsForPurchaseOfTreasuryStockRelatedToEquityAwards (58)grmn_PaymentsForPurchaseOfTreasuryStockRelatedToEquityAwards
Proceeds from issuance of treasury stock related to equity awards 246us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions 1,107us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
Tax benefit from issuance of equity awards 399us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 2,199us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Net cash used in financing activities (107,668)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (117,591)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate changes on cash and cash equivalents (22,044)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 398us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net decrease in cash and cash equivalents (24,880)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (42,458)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of period 1,196,268us-gaap_CashAndCashEquivalentsAtCarryingValue 1,179,149us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period $ 1,171,388us-gaap_CashAndCashEquivalentsAtCarryingValue $ 1,136,691us-gaap_CashAndCashEquivalentsAtCarryingValue