XML 17 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 24,710 $ 16,454
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,136 7,643
Operating lease cost 14,930  
Share-based compensation 3,634 2,674
Other non-cash items (911) 154
Changes in operating assets and liabilities:    
Accounts receivable, net of allowances (80,722) (86,850)
Inventories (15,099) (20,853)
Prepaid expenses and other assets 6,875 5,112
Accounts payable, accrued expenses and other liabilities (3,658) 29,065
Operating lease liabilities (19,610)  
Cash used in operating activities (63,715) (46,601)
Cash flows from investing activities:    
Purchases of property, equipment, and software (10,553) (1,668)
Proceeds from disposal of property and equipment 225 16
Cash used in investing activities (10,328) (1,652)
Cash flows from financing activities:    
Proceeds from bank borrowings 95,000 0
Repayments of bank borrowings 0 (400)
Dividends—Series A convertible preferred stock [1] (2,985) (3,000)
Repurchases of common stock (53,478) (20,061)
Other (1,662) (692)
Cash provided by (used in) financing activities 36,875 (24,153)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (22) 2,176
Net change in cash, cash equivalents, and restricted cash (37,190) (70,230)
Cash, cash equivalents, and restricted cash—beginning of period 127,530 177,055
Cash, cash equivalents, and restricted cash—end of period $ 90,340 $ 106,825
[1] Represents $3.0 million paid to induce conversion of Series A Convertible Preferred Stock to common stock for the three months ended March 31, 2019 and $3.0 million paid in Series A Convertible Preferred Stock cash dividends for the three months ended March 31, 2018.