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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating Activities    
Net income $ 57,755 $ 43,706
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,594 7,467
Loss on disposal of property and equipment 26 42
Deferred income taxes 5,876 6,147
Amortization of debt origination costs 759 1,400
Stock-based compensation costs 1,878 1,464
Non-cash operating lease cost 1,691 1,831
Other 0 50
Changes in operating assets and liabilities:    
Accounts receivable (15,879) 39,734
Inventories 9,384 51
Prepaid expenses and other current assets (1,049) (4,019)
Accounts payable (15,551) (32,386)
Accrued liabilities 18,439 11,588
Operating lease liabilities (1,578) (1,812)
Other (40) (109)
Net cash provided by operating activities 69,305 75,154
Investing Activities    
Purchases of property, plant and equipment (1,500) (2,553)
Other 177 0
Net cash used in investing activities (1,323) (2,553)
Financing Activities    
Term loan repayments (20,000) (56,000)
Borrowings under revolving credit agreement 85,000 0
Repayments under revolving credit agreement 0 (55,000)
Payments of finance leases (638) (336)
Proceeds from exercise of stock options 2,204 1,216
Fair value of shares surrendered as payment of tax withholding (2,916) (1,242)
Net cash provided by (used in) financing activities 63,650 (111,362)
Effects of exchange rate changes on cash and cash equivalents (310) 1,942
Increase (decrease) in cash and cash equivalents 131,322 (36,819)
Cash and cash equivalents - beginning of period 32,302 94,760
Cash and cash equivalents - end of period 163,624 57,941
Supplemental Cash Flow Information [Abstract]    
Interest paid 3,389 5,571
Income taxes paid $ 2,388 $ 2,182