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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 72,495 $ 48,637
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 8,337 9,157
Deferred taxes (347) 145
Share-based compensation 4,329 3,561
Gain on disposal of long-lived assets and deferred gain amortization (124) (510)
Gain on sale of golf-related investments (17,662) 0
Discount amortization on convertible notes 0 395
Unrealized losses on foreign currency hedges 884 0
Change in assets and liabilities:    
Accounts receivable, net (86,452) (112,433)
Inventories 61,843 35,166
Other assets 918 2,962
Accounts payable and accrued expenses (18,475) (9,941)
Accrued employee compensation and benefits (8,119) (9,979)
Accrued warranty expense 466 840
Income taxes receivable/payable (161) (378)
Other liabilities (171) (289)
Net cash provided by (used in) operating activities 17,761 (32,667)
Cash flows from investing activities:    
Proceeds from sale of investments in golf-related ventures 23,429 0
Collection of note receivable 3,104 0
Capital expenditures (7,487) (5,912)
Investment in golf-related ventures (1,560) 0
Proceeds from sales of property and equipment 20 2
Net cash provided by (used in) investing activities 17,506 (5,910)
Cash flows from financing activities:    
(Repayments of) proceeds from asset-based credit facilities, net (9,638) 27,364
Acquisition of treasury stock (5,133) (1,915)
Dividends paid (1,882) (1,565)
Exercise of stock options 2,096 5,330
Net cash (used in) provided by financing activities (14,557) 29,214
Effect of exchange rate changes on cash and cash equivalents (2,892) (1,558)
Net increase (decrease) in cash and cash equivalents 17,818 (10,921)
Cash and cash equivalents at beginning of period 49,801 37,635
Cash and cash equivalents at end of period 67,619 26,714
Supplemental disclosures:    
Cash paid for income taxes, net 3,920 3,596
Cash paid for interest and fees 1,109 3,494
Noncash investing and financing activities:    
Issuance of treasury stock for compensatory stock awards released from restriction 817 3,669
Accrued capital expenditures at period-end $ 640 $ 553