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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating activities    
Net income $ 88,001 $ 37,558
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation 12,169 11,271
Amortization of intangible assets 11,114 14,312
Amortization of original issue discount and deferred financing costs 2,367 1,308
Loss on extinguishment of debt [1] 1,332
Deferred income taxes 6,257 16,500
Share-based compensation expense [2] 6,991 5,818
Other 599 377
Net changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (24,876) 2,504
Inventories (85,592) (8,236)
Other assets (13,047) 1,069
Accounts payable 33,442 (26,560)
Accrued wages and employee benefits 4,510 1,902
Other accrued liabilities 36,578 (3,144)
Excess tax benefits from equity awards (188) (403)
Net cash provided by operating activities 79,657 54,276
Investing activities    
Proceeds from sale of property and equipment 196 45
Proceeds from beneficial interests in securitization transactions 1,929 1,398
Expenditures for property and equipment (12,326) (10,030)
Acquisition of business, net of cash acquired (71,926) 1,160
Net cash used in investing activities (82,127) (7,427)
Financing activities    
Proceeds from short-term borrowings 12,133 62,435
Proceeds from long-term borrowings 50,000 3,069
Repayments of short-term borrowings (8,172) (72,971)
Repayments of long-term borrowings and capital lease obligations (50,797) (9,806)
Stock repurchases (25,656) (30,012)
Cash dividends paid to noncontrolling interest of subsidiary (314)
Payment of debt issuance costs (1,473) (1,517)
Taxes paid related to equity awards (1,725) (1,958)
Proceeds from exercise of stock options 2,124 1,254
Net cash used in financing activities (23,880) (49,506)
Effect of exchange rate changes on cash and cash equivalents (408) 2,456
Net decrease in cash and cash equivalents (26,758) (201)
Cash and cash equivalents at beginning of period 138,472 67,272
Cash and cash equivalents at end of period $ 111,714 $ 67,071
[1] Represents the non-cash write-off of original issue discount and deferred financing costs due to a voluntary prepayment of Term Loan debt.
[2] Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.