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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net income $ 8,799 $ 7,983
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 1,383 1,404
Stock-based compensation expense 1,911 1,715
Deferred income taxes (1,331) 137
Distribution of income from unconsolidated subsidiaries 852  
Equity in income of unconsolidated subsidiaries (1,255)  
Gain (loss) on disposition of assets 59 (220)
Changes in assets and liabilities:    
Cash held in escrow 2,828 (2,317)
Accounts receivable (1,309) 2,183
Inventories (21,254) (51,637)
Prepaid expenses and other assets 47 347
Accounts payable (7,429) 2,571
Accrued expenses and other liabilities 6,237 270
Net cash used in operating activities (10,462) (37,564)
Investing activities    
Purchases of property and equipment (1,052) (2,784)
Proceeds from sale of assets   636
Proceeds from secured note receivable 25 24
Net cash used in investing activities (1,027) (2,124)
Financing activities    
Borrowings under revolving credit facilities 45,000 50,000
Payments on revolving credit facilities (175,000) (25,000)
Proceeds from issuance of senior notes 127,500  
Principal payments on notes payable (1,582) (515)
Debt issuance costs (2,533)  
Net proceeds from issuances of common stock 15,023  
Repurchases of common stock upon vesting of restricted stock awards (2,904) (254)
Repurchases of common stock under our stock repurchase program   (2,393)
Net cash provided by financing activities 5,504 21,838
Net decrease in cash and cash equivalents (5,985) (17,850)
Cash and cash equivalents, Beginning of period 29,450 29,287
Cash and cash equivalents, End of period $ 23,465 11,437
Supplemental cash flow disclosure    
Cash paid for income taxes   $ 582