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Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Operating Activities    
Net income $ 33,354 $ 24,483
Adjustment to reconcile net income to net cash (used in) provided by operating activities:    
Provision for doubtful accounts (158) (87)
Depreciation - Property, plant and equipment 6,242 5,560
Depreciation - Rental equipment 2,983 2,804
Amortization of intangibles 1,756 1,554
Amortization of debt issuance costs 110 110
Stock-based compensation expense 1,188 774
Deferred income tax expense (benefit) 967 (20)
Gain on sale of property, plant and equipment (149) (238)
Changes in operating assets and liabilities:    
Accounts receivable (35,260) (23,519)
Inventories (22,116) (4,436)
Rental equipment (11,547) (3,275)
Prepaid expenses and other assets (1,452) 1,012
Trade accounts payable and accrued liabilities 5,959 11,621
Income taxes payable (9,806) (4,226)
Other assets and long-term liabilities 215 305
Net cash (used in) provided by operating activities (27,714) 12,422
Investing Activities    
Acquisitions, net of cash acquired 0 26,440
Purchase of property, plant and equipment (10,829) (6,268)
Proceeds from sale of property, plant and equipment 628 417
Net cash used in investing activities (10,201) (32,291)
Financing Activities    
Borrowings on bank revolving credit facility 104,000 109,000
Repayments on bank revolving credit facility (45,000) (33,000)
Principal payments on long-term debt and capital leases 66 0
Dividends paid (2,553) (2,297)
Proceeds from sale of common stock 2,186 1,981
Redemptions of common stock to satisfy withholding taxes related to stock-based compensation (437) (166)
Net cash provided by financing activities 58,130 75,518
Effect of exchange rate changes on cash and cash equivalents (1,986) 2,195
Net change in cash and cash equivalents 18,229 57,844
Cash and cash equivalents at beginning of the period 25,373 16,793
Cash and cash equivalents at end of the period 43,602 74,637
Cash paid during the period for:    
Interest 2,526 3,131
Income taxes $ 19,637 $ 16,444