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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities    
Net income $ 107,475 $ 88,001
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation 14,754 12,169
Amortization of intangible assets 12,593 11,114
Amortization of original issue discount and deferred financing costs 2,376 2,367
Loss on extinguishment of debt [1] 0 1,332
Deferred income taxes 11,108 6,257
Share-based compensation expense [2] 7,928 6,991
Other 400 599
Net changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (8,794) (24,876)
Inventories (21,157) (85,592)
Other assets (3,086) (13,047)
Accounts payable (68,539) 33,442
Accrued wages and employee benefits (14,912) 4,510
Other accrued liabilities (16,077) 36,578
Excess tax benefits from equity awards (1,455) (188)
Net cash provided by operating activities 22,614 79,657
Investing activities    
Proceeds from sale of property and equipment 49 196
Proceeds from beneficial interests in securitization transactions 1,396 1,929
Expenditures for property and equipment (34,376) (12,326)
Acquisition of business, net of cash acquired (112,941) (71,926)
Net cash used in investing activities (145,872) (82,127)
Financing activities    
Proceeds from short-term borrowings 35,790 12,133
Proceeds from long-term borrowings 0 50,000
Repayments of short-term borrowings (24,325) (8,172)
Repayments of long-term borrowings and finance lease obligations (2,000) (50,797)
Stock repurchases 0 (25,656)
Cash dividends paid to noncontrolling interest of subsidiary (285) (314)
Payment of debt issuance costs 0 (1,473)
Taxes paid related to equity awards (4,441) (1,725)
Proceeds from exercise of stock options 3,419 2,124
Net cash provided by (used in) financing activities 8,158 (23,880)
Effect of exchange rate changes on cash and cash equivalents 985 (408)
Net decrease in cash and cash equivalents (114,115) (26,758)
Cash and cash equivalents at beginning of period 224,482 138,472
Cash and cash equivalents at end of period $ 110,367 $ 111,714
[1] Represents the non-cash write-off of original issue discount and deferred financing costs due to a voluntary prepayment of Term Loan debt.
[2] Represents share-based compensation expense to account for stock options, restricted stock and other stock awards over their respective vesting periods.