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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income (loss) $ 14,568 $ 16,008 $ (18,921)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 17,379 21,236 25,543
Deferred taxes 128 604 (2,309)
Share-based compensation 7,542 5,740 3,533
(Gain) loss on disposal of long-lived assets and deferred gain amortization (1,006) (1,331) 2,242
Discount amortization on convertible notes 531 739 702
Changes in assets and liabilities:      
Accounts receivable, net (11,591) (23,314) (6,690)
Inventories (5,347) 47,334 (60,966)
Other assets 7,060 2,884 (190)
Accounts payable and accrued expenses 5,382 (30,578) 34,663
Accrued employee compensation and benefits (3,395) 6,328 11,523
Income taxes receivable and payable (370) (4,125) 2,761
Accrued warranty expense 99 (799) (1,133)
Other liabilities (399) (3,846) 293
Net cash provided by (used in) operating activities 30,581 36,880 (8,949)
Cash flows from investing activities:      
Capital expenditures (14,369) (10,753) (13,038)
Proceeds from sale of property, plant and equipment (3,104) 0 0
Proceeds from sale of property, plant and equipment 2 458 4,148
Investment in golf-related ventures (940) (14,771) (13,637)
Net cash used in investing activities (18,411) (25,066) (22,527)
Cash flows from financing activities:      
Exercise of stock options 6,565 2,291 1,652
Dividends paid, net (3,391) (3,105) (5,599)
Acquisition of treasury stock (1,960) (1,006) 0
(Repayment of) proceeds from asset-based credit facility, net (266) (10,425) 25,660
Credit facility amendment costs 0 (608) 0
Equity issuance costs 0 (7) (341)
Other financing activities 0 (26) (32)
Net cash provided by (used in) financing activities 948 (12,886) 21,340
Effect of exchange rate changes on cash and cash equivalents (952) 1,914 (5,074)
Net increase (decrease) in cash and cash equivalents 12,166 842 (15,210)
Cash and cash equivalents at beginning of year 37,635 36,793 52,003
Cash and cash equivalents at end of year 49,801 37,635 36,793
Supplemental disclosures:      
Cash paid for interest and fees 6,641 8,124 6,741
Cash paid for income taxes, net 5,454 8,098 4,986
Noncash investing and financing activities:      
Conversion of convertible notes to common stock, net of discount (Note 3) 109,105 0 0
Issuance of treasury stock from the settlement of compensatory stock awards 3,762 86 1,649
Accrued capital expenditures at period end 2,255 466 1,467
Acquisition of treasury stock for minimum statutory withholding taxes 0 7 364
Issuance of common stock in exchange for preferred stock $ 0 $ 0 $ 42,278