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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 $ 20,350 $ 15,359
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 12,445 12,024
Amortization of intangible assets 4,347 3,657
Amortization of debt issuance costs 421 421
Deferred income taxes 6,771 3,810
Non-cash stock compensation expense 2,915 1,775
(Gain) loss on sale of property, equipment and real estate (913) 38
Other non-cash adjustments 1,778 619
Change in assets and liabilities, net of effects of acquisitions    
Accounts receivable, net of allowances (9,463) (33,462)
Inventories, net 1,499 (24,042)
Accounts payable 69,741 40,212
Other assets and liabilities (32,132) 2,801
Net cash provided by operating activities 77,759 23,212
Cash flows from investing activities    
Purchases of businesses, net of cash acquired (52,012) (20,970)
Purchases of property, equipment and real estate (15,429) (10,244)
Proceeds from sale of property, equipment and real estate 2,343 127
Insurance proceeds 0 1,991
Net cash used in investing activities (65,098) (29,096)
Cash flows from financing activities    
Proceeds from revolving line of credit 110,987 235,345
Repayments of proceeds from revolving line of credit (110,987) (227,616)
Repurchases of common stock under share repurchase program (15,219) 0
Payments on finance lease obligations (1,708)  
Payments on finance lease obligations   (2,059)
Principal payments on other notes 0 (25)
Other financing activities, net (4,875) (2,509)
Net cash (used in) provided by financing activities (21,802) 3,136
Net decrease in cash and cash equivalents (9,141) (2,748)
Cash and cash equivalents    
Beginning of period 150,723 11,750
End of period 141,582 9,002
Supplemental disclosure of non-cash investing and financing transactions    
Acquisition-related holdback payments due at future date 2,500 1,460
Accrued repurchases of common stock under share repurchase program $ 490 $ 0