XML 28 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Unaudited Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net income $ 133,925 $ 115,212
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 11,276 8,549
Share-based compensation 5,609 4,658
Deferred income tax provision 4,743 3,333
Non-cash contribution for 401(k) plan 1,772 1,718
Provision for doubtful accounts 396 1,115
Loss on sale of property and equipment 179 409
Excess tax benefits from share-based compensation (913) (724)
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (81,793) (62,539)
Inventories (98,001) (96,620)
Accounts payable and other liabilities 87,696 (26,805)
Other, net (446) (7,010)
Net cash provided by (used in) operating activities 64,443 (58,704)
Cash flows from investing activities:    
Business acquisitions, net of cash acquired (132,359) (44,695)
Capital expenditures (9,228) (9,180)
Proceeds from sale of property and equipment 404 422
Net cash used in investing activities (141,183) (53,453)
Cash flows from financing activities:    
Net proceeds from issuances of common stock 3,977 3,356
Excess tax benefits from share-based compensation 913 724
Net proceeds (repayments) of other long-term obligations 2 (51)
Return of capital contribution to noncontrolling interest   (32,000)
Payment of fees related to revolving credit agreement (2,072) (38)
Distributions to noncontrolling interest (16,003) (15,824)
Dividends on Common and Class B common stock (62,379) (54,486)
Net cash provided by financing activities 106,709 6,681
Effect of foreign exchange rate changes on cash and cash equivalents 319  
Net increase (decrease) in cash and cash equivalents 30,288 (105,476)
Cash and cash equivalents at beginning of period 15,673 126,498
Cash and cash equivalents at end of period 45,961 21,022
Supplemental cash flow information:    
Common stock issued for Carrier Enterprise III 93,250  
Net assets of locations contributed to Carrier Enterprise II   14,769
Current Revolving Credit Facility
    
Cash flows from financing activities:    
Net (repayments) proceeds under prior revolving credit agreements 252,271  
Previous Revolving Credit Facility
    
Cash flows from financing activities:    
Net (repayments) proceeds under prior revolving credit agreements $ (70,000) $ 105,000