XML 32 R8.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
OPERATING ACTIVITIES    
NET INCOME $ 20,712 $ 12,015
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 42,630 39,540
Amortization of intangibles 2,218 2,137
Pension settlement expense 1,716 4,600
Share-based compensation expense 4,233 3,668
Provision for losses on accounts receivable 627 1,032
Deferred income tax benefit (2,559) (2,358)
Gain on sale of property and equipment (1,049) (249)
Changes in operating assets and liabilities:    
Receivables (16,560) (34,888)
Prepaid expenses 1,691 1,383
Other assets 385 (1,482)
Income taxes 12,306 2,226
Accounts payable, accrued expenses, and other liabilities 8,316 30,019
NET CASH PROVIDED BY OPERATING ACTIVITIES 74,666 57,643
INVESTING ACTIVITIES    
Purchases of property, plant and equipment, net of financings (34,205) (15,570)
Proceeds from sale of property and equipment 2,690 1,241
Purchases of short-term investments (10,780) (2,967)
Proceeds from sale of short-term investments 2,967 2,940
Business acquisitions, net of cash acquired (5,219) (2,663)
Capitalization of internally developed software (4,099) (3,859)
NET CASH USED IN INVESTING ACTIVITIES (48,646) (20,878)
FINANCING ACTIVITIES    
Borrowings under credit facilities 70,000  
Borrowings under accounts receivable securitization program 35,000  
Payments on long-term debt (84,555) (16,528)
Net change in book overdrafts (1,522) 3,602
Net change in restricted cash (1) 517
Deferred financing costs (824) (61)
Payment of common stock dividends (3,162) (1,635)
Purchase of treasury stock (5,982)  
Proceeds from the exercise of stock options   1,136
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 8,954 (12,969)
NET INCREASE IN CASH AND CASH EQUIVALENTS 34,974 23,796
Cash and cash equivalents at beginning of period 157,042 105,354
CASH AND CASH EQUIVALENTS AT END OF PERIOD 192,016 129,150
NONCASH INVESTING ACTIVITIES    
Accruals for equipment received 8,972 6,869
Equipment financed $ 12,670 $ 22,842