XML 16 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Operating activities    
Net income $ 33,770 $ 12,182
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation 6,051 5,414
Amortization of intangible assets 5,632 7,183
Amortization of original issue discount and deferred financing costs 1,177 490
Deferred income taxes 4,283 6,530
Share-based compensation expense [1] 3,106 2,632
Other 102 120
Net changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 18,744 20,368
Inventories (48,798) (35,675)
Other assets 2,658 192
Accounts payable (9,439) (24,975)
Accrued wages and employee benefits 813 697
Other accrued liabilities 11,065 103
Excess tax benefits from equity awards (196) (436)
Net cash provided by (used in) operating activities 28,968 (5,175)
Investing activities    
Proceeds from sale of property and equipment 1 35
Proceeds from beneficial interests in securitization transactions 867 629
Expenditures for property and equipment (6,496) (3,548)
Acquisition of business, net of cash acquired (369) 1,610
Net cash used in investing activities (5,997) (1,274)
Financing activities    
Proceeds from short-term borrowings 14,315 31,004
Proceeds from long-term borrowings 1,278
Repayments of short-term borrowings (3,911) (35,194)
Repayments of long-term borrowings and capital lease obligations (408) (1,056)
Stock repurchases (25,656)
Cash dividends paid to noncontrolling interest of subsidiary (314)
Taxes paid related to equity awards (1,626) (1,903)
Proceeds from exercise of stock options 1,400 1,107
Net cash used in financing activities (16,200) (4,764)
Effect of exchange rate changes on cash and cash equivalents 919 1,435
Net increase (decrease) in cash and cash equivalents 7,690 (9,778)
Cash and cash equivalents at beginning of period 138,472 67,272
Cash and cash equivalents at end of period $ 146,162 $ 57,494
[1] Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.