XML 34 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 18.7 $ 14.4
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
LIFO and inventory provisions 6.0 6.9
Amortization of debt issuance costs 0.2 0.2
Stock-based compensation expense 4.0 2.8
Bad debt expense, net 0.8 0.7
Depreciation and amortization 18.4 15.1
Foreign currency transaction losses, net 0.6 0.2
Deferred income taxes (0.6) 0.1
Changes in operating assets and liabilities:    
Accounts receivable, net (41.0) (34.2)
Other receivables, net (3.2) 3.7
Inventories, net (9.5) 75.8
Deposits, prepayments and other non-current assets (9.4) (22.0)
Excess tax deductions associated with stock-based compensation (1.9) (1.2)
Accounts payable 24.1 25.3
Cigarette and tobacco taxes payable (14.2) (21.4)
Pension, claims, accrued and other long-term liabilities (3.9) 0.6
Net cash provided by (used in) operating activities (10.9) 67.0
Cash flows from investing activities:    
Acquisition of business, net of cash acquired (8.0) 0.0
Change in restricted cash 3.2 0.8
Additions to property and equipment, net (14.4) (14.8)
Capitalization of software and related development costs (3.9) (1.1)
Proceeds from sale of fixed assets 0.3 0.0
Net cash used in investing activities (22.8) (15.1)
Cash flows from financing activities:    
Borrowing (repayments) under revolving credit facility, net 48.1 (41.3)
Dividends paid (6.1) (5.1)
Payments on capital leases (1.1) (0.8)
Repurchases of common stock (6.0) (3.0)
Proceeds from exercise of common stock options 0.2 1.0
Tax withholdings related to net share settlements of restricted stock units (3.1) (0.9)
Excess tax deductions associated with stock-based compensation 1.9 1.2
Decrease in book overdrafts 0.9 1.8
Net cash provided by (used in) financing activities 34.8 (47.1)
Effects of changes in foreign exchange rates (1.0) 0.1
Change in cash and cash equivalents 0.1 4.9
Cash and cash equivalents, beginning of period 14.4 11.0
Cash and cash equivalents, end of period 14.5 15.9
Cash paid during the period for:    
Income taxes, net 12.8 12.8
Interest 0.6 0.5
Non-cash capital lease obligations incurred 5.2 3.5
Unpaid property and equipment purchases included in accrued liabilities $ 3.4 $ 1.2