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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net income $ 29,754 $ 11,956
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of business (18,647) 0
Depreciation and amortization 8,637 8,572
Inventory step-up amortization 0 1,806
Deferred income taxes (981) (632)
Stock based compensation 1,464 1,303
Loss on disposition of property, plant and equipment 222 0
Changes in operating assets and liabilities:    
Accounts receivable (13,659) (20,986)
Inventories (7,924) 6,920
Accounts payable 2,009 6,451
Accrued payroll and other compensation (2,818) 1,285
Accrued taxes 3,261 533
Other, net 3,177 (3,834)
Net cash provided by operating activities 4,495 13,374
Cash flows from investing activities:    
Business acquisitions, net of cash acquired 0 (79,157)
Proceeds from the sale of business, net 28,550 0
Proceeds from the sale of business, net (11,678) (5,626)
Net cash provided by (used for) investing activities 16,872 (84,783)
Cash flows from financing activities:    
Proceeds from borrowings 0 60,000
Debt repayments (282) (331)
Common stock issued 1,055 837
Common stock repurchased (8,450) (479)
Excess tax benefit on stock awards 485 459
Net cash (used for) provided by financing activities (7,192) 60,486
Effect of exchange rate changes on cash (1,950) (59)
Increase (Decrease) in cash and cash equivalents 12,225 (10,982)
Cash and cash equivalents at beginning of period 62,051 75,407
Cash and cash equivalents at end of period 74,276 $ 64,425
Non-cash capital expenditures included in accounts payable $ 2,400