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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 16,210 $ 24,286
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 32,779 25,709
Gain on bargain purchase 0 (11,574)
Loss on sales and/or abandonment of property and equipment 371 234
Write-off of patents and intangible assets 86 19
Acquired in-process research and development 306 75
Amortization of deferred credits (71) (76)
Amortization of long-term debt issuance costs 402 343
Deferred income taxes 0 (295)
Stock-based compensation expense 2,821 1,691
Changes in operating assets and liabilities, net of effects from acquisitions:    
Trade receivables (27,947) (13,248)
Other receivables 966 (114)
Inventories (7,189) (2,160)
Prepaid expenses and other current assets (3,105) (1,230)
Prepaid income taxes (100) (92)
Income tax refund receivables (1,146) 294
Other assets (751) (1,500)
Trade payables 15,767 3,664
Accrued expenses 7,467 7,421
Income taxes payable (2,076) (301)
Deferred compensation payable 438 513
Other long-term obligations (179) 907
Total adjustments 18,839 10,280
Net cash provided by operating activities 35,049 34,566
Capital expenditures for:    
Property and equipment (31,559) (17,782)
Intangible assets (1,755) (1,082)
Proceeds from the sale of property and equipment 4 3
Issuance of note receivable (10,500) 0
Cash paid in acquisitions, net of cash acquired (118,654) (54,809)
Net cash used in investing activities (162,464) (73,670)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 3,251 140,989
Offering costs 0 (815)
Proceeds from issuance of long-term debt 320,827 96,859
Payments on long-term debt (185,827) (179,359)
Contingent payments related to acquisitions (130) (30)
Net cash provided by financing activities 138,121 57,644
EFFECT OF EXCHANGE RATES ON CASH 470 (36)
NET INCREASE IN CASH AND CASH EQUIVALENTS 11,176 18,504
CASH AND CASH EQUIVALENTS:    
Beginning of period 32,336 19,171
End of period 43,512 37,675
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest (net of capitalized interest of $314 and $240, respectively) 5,714 4,386
Income taxes 5,141 2,678
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Property and equipment purchases in accounts payable 3,943 1,560
Acquisition purchases in accrued expenses and other long-term obligations 0 6,000
Merit common stock surrendered (32 and 0 shares, respectively) in exchange for exercise of stock options $ 1,684 $ 0