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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net income $ 38,594 $ 31,155
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation 11,271 10,429
Amortization of intangible assets 14,312 16,014
Amortization of original issue discount and deferred financing costs 1,308 2,122
Deferred income taxes 17,164 9,072
Share-based compensation expense [1] 5,818 5,386
Other 377 46
Net changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 5,362 (9,389)
Inventories (13,981) (1,046)
Other assets 1,069 2,297
Accounts payable (26,560) 17,537
Accrued wages and employee benefits 1,902 6,166
Other accrued liabilities (559) (1,825)
Excess tax benefits from equity awards (403) (6,729)
Net cash provided by operating activities 55,674 81,235
Investing activities    
Proceeds from sale of property and equipment 45 47
Expenditures for property and equipment (10,030) (14,004)
Acquisitions of businesses, net of cash acquired 1,160 (60,886)
Net cash used in investing activities (8,825) (74,843)
Financing activities    
Proceeds from short-term borrowings 62,435 10,278
Proceeds from long-term borrowings 3,069
Repayments of short-term borrowings (72,971) (6,327)
Repayments of long-term borrowings and capital lease obligations (9,806) (10,652)
Stock repurchases (30,012) (34,576)
Payment of debt issuance costs (1,517)
Cash dividends paid (76)
Taxes paid related to the net share settlement of equity awards (1,958) (12,099)
Proceeds from exercise of stock options 1,254
Excess tax benefits from equity awards 6,729
Net cash used in financing activities (49,506) (46,723)
Effect of exchange rate changes on cash and cash equivalents 2,456 115
Net decrease in cash and cash equivalents (201) (40,216)
Cash and cash equivalents at beginning of period 67,272 115,857
Cash and cash equivalents at end of period $ 67,071 $ 75,641
[1] Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.