XML 55 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
OPERATING ACTIVITIES:    
Net income $ 13,232 $ 11,646
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 2,248 914
Amortization of intangible assets 2,642 2,234
Compensation expense for restricted stock 724 431
Tax benefit related to vesting of restricted stock (373) (163)
Deferred income taxes (2,820) (105)
Changes in operating assets and liabilities, net of assets and liabilities acquired in business acquisitions:    
Trade accounts receivable (14,424) (9,482)
Inventories 1,703 (897)
Prepaid expenses and other assets 1,948 (567)
Accounts payable and accrued expenses 12,052 22,630
Net cash provided by operating activities 16,932 26,641
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (2,360) (852)
Acquisitions of businesses, net of cash acquired 0 (42,413)
Net cash used in investing activities (2,360) (43,265)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from debt 94,727 60,323
Principal payments on revolving line of credit and other long-term debt (112,833) (41,824)
Dividends paid (23) (23)
Tax benefit related to vesting of restricted stock 373 163
Net cash provided by (used in) financing activities (17,756) 18,639
EFFECT OF FOREIGN CURRENCY ON CASH (36) 0
(DECREASE) INCREASE IN CASH AND CASH (3,220) 2,015
CASH AT BEGINNING OF PERIOD 10,455 1,507
CASH AT END OF PERIOD $ 7,235 $ 3,522