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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 $ 161,135 $ 98,812 $ 77,747
Adjustment to reconcile net income to net cash provided by operating activities:      
Depreciation 23,127 21,465 16,742
Amortization of Intangible Assets 28,861 32,953 23,591
Amortization of original issue discount and deferred financing costs 3,516 3,940 5,429
Tradename and goodwill impairment [1] 0 0 40,687
Loss on extinguishment of debt 574 [2] 4,795 [2]
Loss on change in contractual interest rate 2,957 [3] 2,381 [3]
Deferred income taxes 21,439 39,347 26,955
Share-based compensation expense [4] 10,205 9,493 8,241
Other 410 127 540
Net changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (29,771) (9,082) 9,610
Inventories (16,278) 15,514 9,084
Other assets (14,783) 406 5,063
Accounts payable 42,788 32,908 (27,771)
Accrued wages and employee benefits 6,105 5,196 (5,361)
Other accrued liabilities 27,514 6,719 445
Excess tax benefits from equity awards (3,152) (7,920) (9,559)
Net cash provided by operating activities 261,116 253,409 188,619
Investing activities      
Proceeds from sale of property and equipment 82 1,360 105
Expenditures for property and equipment (33,261) (30,467) (30,651)
Acquisition of business, net of cash acquired 1,257 (61,386) (73,782)
Deposit paid related to acquisition (15,329)
Net cash used in investing activities (31,922) (105,822) (104,328)
Financing activities      
Proceeds from short-term borrowings 101,991 28,712 26,384
Proceeds from long-term borrowings 3,069 100,000
Repayments of short-term borrowings (114,874) (27,755) (23,149)
Repayments of long-term borrowings and capital lease obligations (117,475) (37,627) (150,826)
Stock repurchases (30,012) (149,937) (99,942)
Payment of debt issuance costs (3,901) (4,557) (2,117)
Cash dividends paid (76) (1,436)
Taxes paid related to equity awards (5,892) (14,008) (12,956)
Proceeds from the exercise of stock options 6,951 1,623
Excess tax benefits from equity awards 7,920 9,559
Net cash used in financing activities (160,143) (195,705) (154,483)
Effect of exchange rate changes on cash and cash equivalents 2,149 (467) (3,712)
Net increase (decrease) in cash and cash equivalents 71,200 (48,585) (73,904)
Cash and cash equivalents at beginning of period 67,272 115,857 189,761
Cash and cash equivalents at end of period 138,472 67,272 115,857
Supplemental disclosure of cash flow information      
Interest 41,105 42,456 39,524
Income taxes $ 23,836 $ 8,889 $ 6,087
[1] Represents the 2015 impairment of certain tradenames due to a change in brand strategy to transition and consolidate various brands to the Generac tradename ($36,076) and the impairment of goodwill related to the Ottomotores reporting unit ($4,611).
[2] Represents the write-off of original issue discount and capitalized debt issuance costs due to voluntary debt prepayments.
[3] For the year ended December 31, 2016, represents a non-cash loss relating to the continued 25 basis point increase in borrowing costs as a result of the credit agreement leverage ratio remaining above 3.0 times based on projections at that time. For the year ended December 31, 2015, represents a non-cash loss relating to a 25 basis point increase in borrowing costs as a result of the credit agreement leverage ratio rising above 3.0 times and expected to remain above 3.0 times based on projections at that time. Following the May 2017 Term Loan amendment, which removed the pricing grid based on leverage ratio achieved, gains or losses on changes in contractual interest rate will no longer be recorded in the statements of comprehensive income. Refer to Note 10, "Credit Agreements," to the consolidated financial statements in Item 8 of this Annual Report on Form 10-K for further information on the gains and losses on changes in the contractual interest rate.
[4] Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.