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Condensed Consolidated Unaudited Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 151,714 $ 150,641
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 11,656 11,027
Share-based compensation 8,174 7,336
Deferred income tax provision 1,156 1,569
Other income from investment in unconsolidated entity (4,409) (4,795)
Other, net 5,644 3,260
Changes in operating assets and liabilities, net of effects of acquisition:    
Accounts receivable (146,441) (183,105)
Inventories (117,591) (113,831)
Accounts payable and other liabilities 161,685 107,908
Other, net (3,141) 734
Net cash provided by (used in) operating activities 68,447 (19,256)
Cash flows from investing activities:    
Business acquisition, net of cash acquired (16,761)  
Capital expenditures (9,197) (8,824)
Investment in unconsolidated entity (4,940)  
Proceeds from sale of property and equipment 92 86
Net cash used in investing activities (30,806) (8,738)
Cash flows from financing activities:    
Dividends on Common and Class B common stock (120,178) (100,765)
Purchase of additional ownership from non-controlling interest (32,400)  
Repurchases of common stock to satisfy employee withholding tax obligations (983) (2,213)
Net repayments of long-term obligations (230) (121)
Distributions to non-controlling interest   (2,178)
Proceeds from short-term borrowings   1,510
Proceeds from non-controlling interest for investment in unconsolidated entity 988  
Net proceeds from issuances of common stock 3,076 4,741
Net proceeds under revolving credit agreement 84,400 119,800
Net cash (used in) provided by financing activities (65,327) 20,774
Effect of foreign exchange rate changes on cash and cash equivalents 707 (1,276)
Net decrease in cash and cash equivalents (26,979) (8,496)
Cash and cash equivalents at beginning of period 82,894 80,496
Cash and cash equivalents at end of period 55,915 $ 72,000
Supplemental cash flow information:    
Common stock issued for Dunphey & Associates Supply Co., Inc. $ 7,450