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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net income $ 22,270 $ 16,363
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation 5,557 4,736
Amortization 365 339
Share-based compensation 3,003 2,280
Excess tax benefits from share-based compensation 0 (2,780)
Equity earnings in unconsolidated investments, net (38) (25)
Other 1,847 2,334
Changes in operating assets and liabilities, net of effects of acquisitions:    
Receivables (123,515) (125,331)
Product inventories (161,668) (119,300)
Prepaid expenses and other assets (2,617) (2,477)
Accounts payable 234,581 189,915
Accrued expenses and other current liabilities (12,209) (5,807)
Net cash used in operating activities (32,424) (39,753)
Investing activities    
Acquisition of businesses, net of cash acquired 0 (100)
Purchase of property and equipment, net of sale proceeds (19,121) (13,405)
Payments to fund credit agreement 0 (2,315)
Other investments, net 2 11
Net cash used in investing activities (19,119) (15,809)
Financing activities    
Proceeds from revolving line of credit 213,189 286,845
Payments on revolving line of credit (206,319) (233,952)
Proceeds from asset-backed financing 55,000 65,000
Payments on asset-backed financing (18,500) 0
Proceeds from short-term borrowings, long-term debt and other long-term liabilities 11,441 5,995
Payments on short-term borrowings, long-term debt and other long term liabilities (2,771) (1,700)
Payments of deferred and contingent acquisition consideration (199) 0
Excess tax benefits from share-based compensation 0 2,780
Proceeds from stock issued under share-based compensation plans 6,149 4,934
Payments of cash dividends (12,799) (10,927)
Purchases of treasury stock (2,725) (65,860)
Net cash provided by financing activities 42,466 53,115
Effect of exchange rate changes on cash and cash equivalents 530 (825)
Change in cash and cash equivalents (8,547) (3,272)
Cash and cash equivalents at beginning of period 21,956 13,237
Cash and cash equivalents at end of period $ 13,409 $ 9,965