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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2013
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2013
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2013
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
OPERATING ACTIVITIES:                        
Consolidated net income (loss) $ 37,538 $ 9,494 $ 10,842 $ 70,046 $ 8,238 $ 23,479 $ 118,013 $ (4,095) $ 35,684 $ 150,798 $ 13,884 $ 52,362
Loss from discontinued operations, net of tax         504     504     504  
Adjustments to reconcile consolidated net income to net cash provided by operating activities:                        
Depreciation and amortization 21,109 6,675 3,289 44,742 18,565 6,651 63,835 37,270 9,925 86,924 57,831 14,476
Impairment of intangible assets             2,627     33,003    
Amortization of deferred financing fees 997 226 204 2,490 6,599 411 3,576 8,870 622 4,350 9,984 842
Amortization of favorable (unfavorable) contracts 18 18 (159) 35 35 (318) 53 53 (475) 71 71 (1,905)
Amortization of inventory step-up 4,682     4,682 3,559   4,682 9,844   4,681 20,798  
Non-cash stock compensation expense 2,974 1,282 1,703 6,062 3,275 4,244 9,270 5,065 5,674 12,997 7,752 7,050
Non-cash interest expense 1,186 1,249 1,226 1,889 2,655 2,263 2,342 3,955 3,426 2,778 4,871 4,634
Non-cash gain on bargain purchase (849)     (849)     (849)     (849)   (3,707)
Gain from product divestiture         (9,329)     (9,329)     (9,329)  
Deferred income taxes, net (9,186) (1,722) 798 (18,288) (20,103) 1,201 (27,579) (40,270) 1,829 (46,130) (17,511) 2,091
Excess tax benefit from stock compensation (29,944) (33) (238) (47,997) (722) (745) (47,997) (32,047) (1,192) (47,997) (29,517) (2,928)
Non-cash settlement of product warranty liability           (1,299)     (1,299)     (1,299)
Equity in earnings of unconsolidated joint venture     (76)     (76)     (76)     (80)
Loss on extinguishment of debt 98     1,189     1,211     1,243 990  
Gain (loss) on sale of available for sale security 146     230     238     237 (7)  
Changes in operating assets and liabilities, net of business acquisitions:                        
Trade accounts receivable, net 384 (450) (7,958) 60,449 (13,716) (6,908) 52,056 (9,821) (10,858) 40,287 (72,796) (14,277)
Inventories, net (14,559) (5,987) (1,441) (21,356) (10,227) (4,428) (41,177) (14,037) (4,575) (50,729) (19,385) (3,797)
Prepaid expenses and other current assets 2,896 1,026 1,002 21,452 55,636 538 15,442 41,078 867 17,574 30,372 (648)
Trade accounts payable 7,916 6,100 (1,861) (3,623) 11,524 (151) 9,357 1,888 1,444 (4,819) 13,963 1,975
Accrued expenses and other liabilities 19,860 5,498 (409) 59,896 (35,240) (3,464) 86,999 14,429 1,414 93,229 27,967 2,537
NET CASH PROVIDED BY OPERATING ACTIVITIES 45,266 23,376 6,922 181,049 21,253 21,398 252,099 13,357 42,410 297,648 40,442 57,326
INVESTING ACTIVITIES:                        
Payments for acquisitions and equity investments, net of cash acquired (24,637) (7,500) (269) (27,136) (579,315) (513) (26,908) (929,772) (513) (24,408) (987,428) (55,482)
Proceeds from disposal of assets 2,358     2,372 58,721   2,459 58,750   2,459 59,361  
Payments for other intangible assets       (800) (6,300)   (3,135) (8,498)   (3,835) (8,908)  
Purchases of property, plant and equipment (7,088) (5,198) (2,689) (15,600) (11,912) (5,159) (21,628) (17,778) (7,936) (27,934) (29,899) (11,642)
Distributions from unconsolidated joint venture                       250
NET CASH USED IN INVESTING ACTIVITIES (29,367) (12,698) (2,958) (41,164) (538,806) (5,672) (49,212) (897,298) (8,449) (53,718) (966,874) (66,874)
FINANCING ACTIVITIES:                        
Proceeds from issuances of debt         600,000     1,045,044     1,045,000  
Proceeds under stock option and stock purchase plans 10,958 1,022 868 11,916 2,071 1,265 11,917 6,867 2,439 11,916 8,842 3,222
Payments of contingent acquisition liabilities (1,500)     (6,492)     (6,492)     (8,991) (15,000)  
Debt financing costs   (408)   (1,714) (19,775)   (4,457) (28,365) (2,557) (8,564) (28,365) (3,032)
Proceeds from warrant exercises         8,171     8,171     8,171  
Excess tax benefits from stock compensation 29,944 33 238 47,997 722 745 47,997 32,047 1,192 47,997 29,517 2,928
Debt repayment (2,613)     (5,225)     (7,838) (82,436)   (10,450) (85,049)  
NET CASH PROVIDED BY FINANCING ACTIVITIES 36,789 647 1,106 46,482 591,189 2,010 41,127 981,328 1,074 31,908 963,116 3,118
Effect of changes in exchange rates on cash and cash equivalents 165 103 12 44 102 (105) (228) (99) (218) (251) (183) (173)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 52,853 11,428 5,082 186,411 73,738 17,631 243,786 97,288 34,817 275,587 36,501 (6,603)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 70,679 34,178 40,781 70,679 34,178 40,781 70,679 34,178 40,781 70,679 34,178 40,781
CASH AND CASH EQUIVALENTS AT END OF YEAR $ 123,532 $ 45,606 $ 45,863 $ 257,090 $ 107,916 $ 58,412 $ 314,465 $ 131,466 $ 75,598 $ 346,266 $ 70,679 $ 34,178