XML 18 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Unaudited Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 124,615 $ 115,598
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,934 10,043
Share-based compensation 6,264 5,474
Deferred income tax provision 2,739 2,261
Other, net 1,740 3,321
Changes in operating assets and liabilities:    
Accounts receivable (134,952) (153,702)
Inventories (83,523) (72,370)
Accounts payable and other liabilities 104,573 130,840
Other, net (151) 468
Net cash provided by operating activities 32,239 41,933
Cash flows from investing activities:    
Investment in unconsolidated entity (63,600)  
Capital expenditures (10,312) (5,618)
Proceeds from sale of property and equipment 75 624
Net cash used in investing activities (73,837) (4,994)
Cash flows from financing activities:    
Net proceeds under revolving credit agreement 144,006 22,025
Proceeds from non-controlling interest for investment in unconsolidated entity 12,720  
Net proceeds from issuances of common stock 1,912 2,842
Proceeds from short-term borrowings 1,676 793
Net repayments of other long-term obligations (100) (60)
Distributions to non-controlling interest (6,799) (7,114)
Purchase of additional ownership from non-controlling interest (42,688)  
Dividends on Common and Class B common stock (74,835) (60,164)
Net cash provided by (used in) financing activities 35,892 (41,678)
Effect of foreign exchange rate changes on cash and cash equivalents 730 54
Net decrease in cash and cash equivalents (4,976) (4,685)
Cash and cash equivalents at beginning of period 56,010 35,229
Cash and cash equivalents at end of period $ 51,034 $ 30,544