XML 17 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Statement of Cash Flows [Abstract]    
Net income $ 69,515 $ 51,335
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of assets (1,309) 0
Depreciation and amortization 19,633 16,395
Loss in equity method investment, before tax 22 41
Gain on bargain purchase of a business 0 (8,388)
Deferred income taxes 1,870 1,183
Noncash compensation related to stock plans 6,020 11,185
Provision of doubtful accounts 290 (25)
Changes in operating assets and liabilities, net of acquisitions:    
Trade accounts receivable (76,838) (52,132)
Inventories (7,739) (16,403)
Trade accounts payable 19,193 2,816
Income taxes payable 9,603 (2,454)
Accrued profit sharing trust contributions (2,368) (2,408)
Accrued cash profit sharing and commissions 5,516 3,635
Other current assets 3,794 (255)
Accrued liabilities 7,654 2,739
Long-term liabilities (324) 875
Accrued workers’ compensation (151) 221
Other noncurrent assets 983 (633)
Net cash provided by operating activities 55,364 7,727
Cash flows from investing activities    
Capital expenditures (19,040) (30,153)
Asset acquisitions, net of cash acquired 0 (26,289)
Proceeds from sale of property and equipment 2,017 86
Net cash used in investing activities (17,023) (56,356)
Cash flows from financing activities    
Deferred and contingent consideration paid for asset acquisitions 0 (205)
Repurchase of common stock (25,439) (20,000)
Repayment of long-term borrowings and capital leases (437) (133)
Issuance of common stock 695 1,297
Dividends paid (19,546) (17,116)
Cash paid on behalf of employees for shares withheld (5,111) (5,155)
Net cash used in financing activities (49,838) (41,312)
Effect of exchange rate changes on cash and cash equivalents (1,982) 4,354
Net decrease in cash and cash equivalents (13,479) (85,587)
Cash and cash equivalents at beginning of period 168,514 226,537
Cash and cash equivalents at end of period 155,035 140,950
Noncash activity during the period    
Noncash capital expenditures 290 3,938
Dividends declared but not paid 10,190 9,927
Contingent consideration for acquisition 0 1,000
Issuance of Company’s common stock for compensation $ 465 $ 412