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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
Operating Activities      
Net income $ 205,381 $ 164,682 $ 142,281
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 32,092 30,164 28,995
Loss on sale or disposal of property and equipment 271 220 713
Deferred income taxes 9,979 18,628 13,852
Amortization of debt origination costs 4,230 4,979 3,812
Stock-based compensation costs 9,039 8,543 7,644
Loss on extinguishment of debt 2,122 12,327 2,155
Non-cash operating lease cost 6,706 7,082 8,786
Impairment loss 1,057 2,434 0
Other (9) (7,854) 84
Changes in operating assets and liabilities      
Accounts receivable (24,654) 36,872 (2,849)
Inventories 663 2,972 2,930
Prepaid expenses and other current assets 1,448 (3,227) 687
Accounts payable 9,154 (17,342) 6,210
Accrued liabilities 9,616 (14,912) 12,096
Operating lease liabilities (6,448) (6,718) (8,824)
Other (725) (3,243) (1,448)
Net cash provided by operating activities 259,922 235,607 217,124
Investing Activities      
Purchases of property, plant and equipment (9,642) (22,243) (14,560)
Escrow receipt 0 0 750
Acquisitions (247,046) 0 (2,760)
Other 177 0 0
Net cash used in investing activities (256,511) (22,243) (16,570)
Financing Activities      
Proceeds from issuance of senior notes 0 600,000 400,000
Repayment of senior notes 0 (600,000) (400,000)
Term Loan repayments (600,000) (195,000) (48,000)
Proceeds from refinancing of Term Loan 597,000 0 0
Borrowings under revolving credit agreement 85,000 15,000 100,000
Repayments under revolving credit agreement (85,000) (70,000) (120,000)
Payment of debt costs (6,111) (17,718) (6,584)
Payments of finance leases (2,582) (1,443) (476)
Proceeds from exercise of stock options 7,040 2,851 1,324
Fair value of shares surrendered as payment of tax withholding (2,916) (1,242) (974)
Repurchase of common stock 0 (11,867) (56,721)
Net cash used in financing activities (7,569) (279,419) (131,431)
Effects of exchange rate changes on cash and cash equivalents (959) 3,597 (1,893)
(Decrease) increase in cash and cash equivalents (5,117) (62,458) 67,230
Cash and cash equivalents - beginning of year 32,302 94,760 27,530
Cash and cash equivalents - end of year 27,185 32,302 94,760
Interest paid 61,364 80,290 92,166
Income taxes paid $ 46,568 $ 34,381 $ 30,602