XML 45 R6.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income $ 146,509 $ 148,551 $ 132,884
Adjustments to reconcile net income to cash flows provided by operating activities:      
Depreciation and amortization 75,358 67,526 54,727
Stock-based compensation expense 16,077 14,065 20,036
Deferred taxes 3,416 13,874 6,808
Other non-cash items (1,553) (13) 4,371
Changes in assets and liabilities, net of acquisitions of businesses:      
Accounts receivable, net (25,452) (11,352) (12,601)
Inventories, net 57,790 (34,730) (78,698)
Prepaid expenses and other assets 6,882 (17,691) (10,898)
Accounts payable, trade (12,189) (17,335) 20,727
Accrued expenses and other liabilities 2,687 (6,287) 15,346
Net cash flows provided by operating activities 269,525 156,608 152,702
Cash flows from investing activities:      
Capital expenditures (58,202) (119,827) (87,221)
Acquisitions of businesses, net of cash acquired (447,764) (184,792) (60,588)
Other investing activities 2,132 1,824 1,934
Net cash flows used in investing activities (503,834) (302,795) (145,875)
Cash flows from financing activities:      
Exercise of stock-based awards, net of shares tendered for payment of taxes (8,084) (16,097) (10,531)
Proceeds from line of credit borrowings 655,387 1,387,013 28,130
Repayments under line of credit borrowings (628,891) (1,146,953) (28,130)
Proceeds from term loan borrowings 300,000 0 0
Proceeds from other borrowings 0 4,509 0
Payment of dividends (63,813) (59,270) (51,057)
Payment of contingent consideration related to acquisitions (10) (3,068) (5,301)
Repurchases of common stock 0 (28,695) 0
Other financing activities 382 (2,373) (59)
Net cash flows provided by (used in) financing activities 254,971 135,066 (66,948)
Effect of exchange rate changes on cash and cash equivalents (231) 0 0
Net increase (decrease) in cash and cash equivalents 20,431 (11,121) (60,121)
Cash and cash equivalents at beginning of period 14,928 26,049 86,170
Cash and cash equivalents at end of period 35,359 14,928 26,049
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 9,143 5,645 1,650
Cash paid during the period for income taxes, net of refunds 37,836 39,991 53,620
Purchase of property and equipment in accrued expenses $ 3,417 $ 385 $ 2,640