XML 18 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 115,420 $ 103,372
Adjustments to reconcile net income to cash flows provided by operating activities:    
Depreciation and amortization 39,856 33,720
Stock-based compensation expense 15,042 11,421
Deferred taxes 0 183
Other non-cash items 3,655 1,728
Changes in assets and liabilities, net of acquisitions of businesses:    
Accounts receivable, net (69,720) (46,028)
Inventories, net (33,780) 13,451
Prepaid expenses and other assets (18,662) (7,659)
Accounts payable, trade 29,856 23,827
Accrued expenses and other liabilities 27,192 30,093
Net cash flows provided by operating activities 108,859 164,108
Cash flows from investing activities:    
Capital expenditures (60,342) (21,927)
Acquisitions of businesses, net of cash acquired (67,876) (34,237)
Proceeds from sales of fixed assets 348 533
Other investing activities (105) (316)
Net cash flows used for investing activities (127,975) (55,947)
Cash flows from financing activities:    
Exercise of stock-based awards, net of shares tendered for payment of taxes (7,313) 409
Proceeds from line of credit borrowings 9,715 81,458
Repayments under line of credit borrowings (9,715) (81,458)
Payment of dividends 37,346 22,078
Payment of contingent consideration related to acquisitions (2,574) (2,719)
Other financing activities (59) (1,018)
Net cash flows used for financing activities (47,292) (25,406)
Net (decrease) increase in cash and cash equivalents (66,408) 82,755
Cash and cash equivalents at beginning of period 86,170 12,305
Cash and cash equivalents at end of period 19,762 95,060
Supplemental disclosure of cash flow information:    
Cash paid during the period for interest 1,291 1,525
Cash paid during the period for income taxes, net of refunds 48,181 51,524
Purchase of property and equipment in accrued expenses $ 1,205 $ 279