XML 21 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2016
Operating Activities      
Net income $ 339,570 $ 69,395 $ 99,907
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 33,426 25,792 23,676
Loss on divestitures 0 51,820 0
Loss (gain) on sale or disposal of property and equipment 1,568 573 (35)
Deferred income taxes (269,086) (5,778) 46,152
Long term income taxes payable 0 581 (332)
Amortization of debt origination costs 6,742 8,633 8,994
Excess tax benefits from share-based awards 0 900 1,960
Stock-based compensation costs 8,909 8,148 9,954
Loss on extinguishment of debt 2,901 1,420 17,970
Premium payment on 2012 Senior Notes 0 0 (10,158)
Impairment loss 99,924 0 0
Lease termination costs 214 524 0
Other non-cash items 1,704 0 0
Changes in operating assets and liabilities, net of effects from acquisitions:      
Accounts receivable (5,043) (18,938) 1,824
Inventories (2,482) (10,262) (3,005)
Prepaid expenses and other assets 33,721 (1,996) (7,921)
Accounts payable (10,028) 21,447 (11,348)
Accrued liabilities (31,495) 2,413 (1,328)
Pension and deferred compensation contribution (435) (6,000) 0
Net cash provided by operating activities 210,110 148,672 176,310
Investing Activities      
Purchases of property, plant and equipment (12,532) (2,977) (3,568)
Proceeds from divestitures 0 110,717 0
Proceeds from the sale of property, plant and equipment 0 85 344
Proceeds from working capital arbitration settlement 0 1,419 7,237
Acquisition of DenTek, less cash acquired 0 0 (226,984)
Acquisition of C.B. Fleet, less cash acquired 0 (803,839) 0
Acquisition of Fleet escrow receipt 970 0 0
Net cash used in investing activities (11,562) (694,595) (222,971)
Financing Activities      
Proceeds from issuance of 2016 Senior Notes 250,000 0 350,000
Repayment of 2012 Senior Notes 0 0 (250,000)
Borrowings under Bridge term loans 0 0 80,000
Repayments under Bridge term loans 0 0 (80,000)
Proceeds from issuance of Term Loan 0 1,427,000 0
Term Loan repayments (444,000) (862,500) (60,000)
Borrowings under revolving credit agreement 30,000 110,000 115,000
Repayments under revolving credit agreement (45,000) (105,000) (96,100)
Payments of debt origination costs (500) (11,140) (11,828)
Proceeds from exercise of stock options 1,620 4,028 6,689
Proceeds from restricted stock exercises 0 0 544
Fair value of shares surrendered as payment of tax withholding (1,075) (1,431) (2,229)
Net cash (used in) provided by financing activities (208,955) 560,957 52,076
Effects of exchange rate changes on cash and cash equivalents 1,100 (409) 497
(Decrease) increase in cash and cash equivalents (9,307) 14,625 5,912
Cash and cash equivalents - beginning of year 41,855 27,230 21,318
Cash and cash equivalents - end of year 32,548 41,855 27,230
Interest paid 98,572 85,209 79,132
Income taxes paid $ 24,440 $ 47,999 $ 15,352