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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jul. 31, 2015
Jul. 31, 2014
Cash flows from operating activities:    
Net income including noncontrolling interests $ 15,573 $ 19,599
Adjustments to reconcile net income to net cash provided by / (used in) operating activities:    
Depreciation and amortization 6,131 6,097
Transactional (gains) / losses (1,178) 1,077
Write-down of inventories 798 872
Deferred income taxes 376 137
Stock-based compensation 3,100 2,612
Excess tax benefit from stock-based compensation (42) (1,204)
Gain on available-for-sale securities   (131)
Operating efficiency initiatives and other items [1] 2,670  
Loss on disposal of fixed assets 310  
Changes in assets and liabilities:    
Trade receivables (7,192) (22,450)
Inventories (21,948) (15,158)
Other current assets (101) 1,444
Accounts payable 4,329 4,086
Accrued liabilities 5,247 (2,363)
Income taxes payable (6,083) 124
Other non-current assets (645) (2,977)
Other non-current liabilities 1,229 2,556
Net cash provided by / (used in) operating activities 2,574 (5,679)
Cash flows from investing activities:    
Capital expenditures (3,668) (4,294)
Proceeds from short-term investments   33,736
Proceeds from available-for-sale securities   307
Trademarks (138) (32)
Net cash (used in) / provided by investing activities (3,806) 29,717
Cash flows from financing activities:    
Proceeds from bank borrowings 50,000  
Repayments of bank borrowings (10,000)  
Stock options exercised and other changes (489) 108
Excess tax benefit from stock-based compensation 42 1,204
Dividends paid (5,239) (5,059)
Stock repurchase (39,129) (7,684)
Net cash (used in) financing activities (4,815) (11,431)
Effect of exchange rate changes on cash and cash equivalents (5,793) (617)
Net (decrease) / increase in cash and cash equivalents (11,840) 11,990
Cash and cash equivalents at beginning of period 199,852 157,659
Cash and cash equivalents at end of period $ 188,012 $ 169,649
[1] This pre-tax charge was the net of a $0.9 million transfer of the provision related to severance agreements and a charge of $3.6 million in the United States and International locations of the Wholesale segment, respectively.