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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating Activities      
Net income $ 44,315 $ 40,045 $ 43,209
Adjustments to reconcile net income to cash provided by operating activities:      
Provision for doubtful accounts 187 482 965
Depreciation - PP&E 11,616 11,267 11,381
Depreciation - Rental 5,531 6,429 7,607
Amortization of intangibles 3,317 3,104 3,113
Amortization of debt issuance 203 213 214
Stock-based compensation expense 1,869 1,414 1,057
Provision for deferred income tax expense 1,328 2,620 2,804
Gain on sale of property, plant and equipment (341) (345) (4,046)
Changes in operating assets and liabilities, net of effect of acquisitions:      
Accounts receivable (23,134) 3,876 (9,657)
Inventories 142 12,340 9,759
Rental equipment (3,054) 315 (11,699)
Prepaid expenses and other 2,845 (5,634) (3,521)
Trade accounts payable and accrued liabilities 11,688 (5,382) (1,708)
Income taxes payable 2,357 2,908 3,700
Long term tax payable 12,478 0 0
Other assets and liabilities, net (543) 2,132 (760)
Net cash provided by operating activities 70,804 75,784 52,418
Investing Activities      
Acquisitions, net of cash acquired (38,553) (188) (3,465)
Purchase of property, plant and equipment (13,490) (9,711) (15,479)
Proceeds from sale of property, plant and equipment 767 1,293 4,246
Purchase of patents 0 (50) 0
Net cash used in investing activities (51,276) (8,656) (14,698)
Financing Activities      
Borrowings on bank revolving credit facility 143,000 79,000 79,000
Repayment on bank revolving credit facility (153,000) (153,000) (125,000)
Principal payments on long-term debt and capital leases (17) (38) (449)
Proceeds from issuance of long-term debt 0 48 0
Debt issuance cost 0 (593) 0
Dividends paid (4,614) (4,114) (3,628)
Proceeds from exercise of stock options 2,397 1,369 2,023
Common stock repurchased (166) (19) 0
Net cash used in financing activities (12,400) (77,347) (48,054)
Effect of exchange rate changes on cash 1,452 90 (2,277)
Net change in cash and cash equivalents 8,580 (10,129) (12,611)
Cash and cash equivalents at beginning of the year 16,793 26,922 39,533
Cash and cash equivalents at end of the year 25,373 16,793 26,922
Cash paid during the year for:      
Interest 5,217 5,796 6,936
Income taxes $ 23,175 $ 16,637 $ 18,709