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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating activities    
Net income $ 21,217 $ 27,225
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation, amortization and accretion 9,840 10,544
Amortization of debt related costs 809 959
Loss on extinguishment of debt 3,196 0
Provision for bad debt 107 288
Provision for excess and obsolete inventory 1,699 2,470
Stock-based compensation 9,501 6,419
Deferred taxes 3,790 7,220
Long-term income tax receivable (842) (2,220)
Long-term income tax payable and other long-term liabilities 1,113 2,397
Other 229 1,001
Increases (decreases) in cash from operating assets and liabilities:    
Accounts receivable 3,078 (7,205)
Inventory 728 (9,832)
Other current assets (196) (49)
Accounts payable 1,454 2,200
Accrued expenses and other liabilities 2,240 2,470
Net cash provided by operating activities 57,963 43,887
Investing activities    
Capital expenditures (17,320) (12,766)
Proceeds from sales of assets 0 1,000
Net cash used in investing activities (17,320) (11,766)
Financing activities    
Proceeds from issuance of long-term debt 199,461 0
Payments on long-term debt and other borrowings (272,821) (2,146)
Deferred financing costs (2,034) 0
Proceeds from stock option exercises 1,173 1,152
Proceeds from issuance of common stock 573 428
Payments for minimum statutory tax withholding related to net share settlement of equity awards (2,410) (3,168)
Net cash used in financing activities (76,058) (3,734)
Effect of foreign exchange rates on cash and cash equivalents 76 (93)
Net (decrease) increase in cash and cash equivalents (35,339) 28,294
Cash and cash equivalents, beginning of period 113,401 76,290
Cash and cash equivalents, end of period $ 78,062 $ 104,584