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Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Operating Activities    
Net income $ 31,825 $ 29,800
Adjustment to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts 628 304
Depreciation 14,196 7,764
Amortization of intangibles 2,339 676
Amortization of debt issuance costs 159 130
Stock-based compensation expense 762 1,801
Excess tax benefits from stock-based payment arrangements (80) (437)
Provision for deferred income tax benefit 8 (2,808)
Gain on sale of property, plant and equipment (113) (936)
Changes in operating assets and liabilities, net of amounts acquired:    
Accounts receivable (5,721) (13,141)
Inventories (12,935) (28,423)
Rental equipment (14,427) 0
Prepaid expenses and other assets (2,257) 2,752
Trade accounts payable and accrued liabilities 12,318 24,307
Income taxes payable 4,989 3,637
Other long-term liabilities (473) (1,016)
Net cash provided by operating activities 31,218 24,410
Investing Activities    
Acquisitions, net of cash acquired (3,465) (196,363)
Purchase of property, plant and equipment (7,030) (6,689)
Proceeds from sale of property, plant and equipment 197 1,064
Net cash used in investing activities (10,298) (201,988)
Financing Activities    
Borrowings on bank revolving credit facility 62,000 248,000
Repayments on bank revolving credit facility (77,000) (58,000)
Principal payments on long-term debt and capital leases (28) (434)
Proceeds from issuance of debt 0 780
Debt issuance cost 0 (818)
Dividends paid (2,719) (2,540)
Proceeds from sale of common stock 2,008 427
Excess tax benefits from stock-based payment arrangements 80 437
Treasury stock repurchased 0 (34,204)
Net cash (used in) provided by financing activities (15,659) 153,648
Effect of exchange rate changes on cash and cash equivalents (2,137) (1,386)
Net change in cash and cash equivalents 3,124 (25,316)
Cash and cash equivalents at beginning of the period 39,533 63,960
Cash and cash equivalents at end of the period 42,657 38,644
Cash paid during the period for:    
Interest 5,075 1,859
Income taxes $ 14,691 $ 14,242