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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net income $ 12,849 $ 10,212
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation 5,414 4,996
Amortization of intangible assets 7,183 7,797
Amortization of original issue discount and deferred financing costs 490 1,056
Deferred income taxes 6,958 5,069
Share-based compensation expense [1] 2,632 2,485
Other 120 81
Net changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 19,973 8,237
Inventories (35,338) (10,752)
Other assets 192 (3,882)
Accounts payable (24,975) (6,348)
Accrued wages and employee benefits 697 7,301
Other accrued liabilities (305) 2,628
Excess tax benefits from equity awards (436) (6,729)
Net cash (used in) provided by operating activities (4,546) 22,151
Investing activities    
Proceeds from sale of property and equipment 35 7
Expenditures for property and equipment (3,548) (7,093)
Acquisitions of businesses, net of cash acquired 1,610 (61,280)
Net cash used in investing activities (1,903) (68,366)
Financing activities    
Proceeds from short-term borrowings 31,004 8,508
Proceeds from long-term borrowings 1,278
Repayments of short-term borrowings (35,194) (4,151)
Repayments of long-term borrowings and capital lease obligations (1,056) (46)
Cash dividends paid (76)
Taxes paid related to the net share settlement of equity awards (1,903) (12,070)
Proceeds from exercise of stock options 1,107
Excess tax benefits from equity awards 6,729
Net cash used in financing activities (4,764) (1,106)
Effect of exchange rate changes on cash and cash equivalents 1,435 834
Net decrease in cash and cash equivalents (9,778) (46,487)
Cash and cash equivalents at beginning of period 67,272 115,857
Cash and cash equivalents at end of period $ 57,494 $ 69,370
[1] Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.