XML 52 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
CASH FLOW FROM OPERATING ACTIVITIES:    
Net income $ 11,618 $ 13,232
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 2,984 2,248
Amortization of intangible assets 4,570 2,642
Compensation expense for restricted stock 685 724
Tax benefit related to vesting of restricted stock (637) (373)
Deferred income taxes (2,804) (2,820)
Changes in operating assets and liabilities, net of assets and liabilities acquired in business acquisitions:    
Trade accounts receivable (8,181) (14,424)
Inventories 1,041 1,703
Prepaid expenses and other assets 925 1,948
Accounts payable and accrued expenses 10,449 12,052
Net cash provided by operating activities 20,650 16,932
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (1,684) (2,360)
Sale of long-term investment (1,688) 0
Acquisitions of businesses, net of cash acquired (287,043) 0
Net cash used in investing activities (290,415) (2,360)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from debt 380,439 94,727
Principal payments on revolving line of credit and other long-term debt (104,454) (112,833)
Dividends paid (23) (23)
Tax benefit related to vesting of restricted stock 637 373
Net cash (used in) provided by financing activities 276,599 (17,756)
EFFECT OF FOREIGN CURRENCY ON CASH (172) (36)
NET CHANGE IN CASH AND CASH EQUIVALENTS 6,662 (3,220)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 5,469 10,455
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 12,131 $ 7,235