XML 68 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities      
Net income (loss) $ 105,631 $ 15,042 $ (141,760)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Depreciation 14,975 12,636 13,900
Amortization of intangibles 10,590 2,955 2,955
Net loss (gain) on sale of assets 203 (9) 431
Loss on early debt extinguishment 0 668 0
Deferred taxes (57,283) 0 0
Increase in fair value of warrant 0 0 121,587
Stock-based compensation 5,149 3,398 3,489
Accretion of debt discount 2,972 0 0
Changes in operating assets and liabilities      
Accounts receivable 1,180 (14,366) (20,772)
Inventories 41,696 (78,683) (59,062)
Prepaid expenses and other 736 (162) 3,024
Accounts payable and accrued liabilities (46,786) 56,968 45,251
Other, net (3,046) 386 650
Net cash provided by (used in) operating activities 76,017 (1,167) (30,307)
Cash flows from investing activities      
Capital expenditures (14,916) (7,264) (1,782)
Acquisition, net of cash acquired (364,012) 0 0
Proceeds from the sale of property, plant and equipment 607 17 1,813
Other (2,500) 0 0
Net cash (used in) provided by investing activities (380,821) (7,247) 31
Cash flows from financing activities      
Proceeds from exercise of stock options 354 538 504
Borrowings under revolving credit facilities 206,015 848,705 712,491
Payments under revolving credit facilities (271,015) (838,705) (685,928)
Principal payments under capital lease obligations (1,629) (671) (352)
Proceeds from issuance of convertible senior notes 145,500 0 0
Proceeds from issuance of term loan credit facility, net of issuance costs 292,500 0 0
Principal payments under term loan credit facility (2,250) 0 0
Debt issuance costs paid (5,134) (1,989) 0
Proceeds from issuance of industrial revenue bond 2,500 0 0
Stock repurchase (564) (533) (384)
Payments under redemption of preferred stock 0 0 (47,791)
Preferred stock issuance costs paid 0 0 (120)
Proceeds from issuance of common stock, net of expenses 0 (155) 71,948
Net cash provided by financing activities 366,277 7,190 50,368
Net increase (decrease) in cash 61,473 (1,224) 20,092
Cash at beginning of year 19,976 21,200 1,108
Cash at end of year 81,449 19,976 21,200
Cash paid (received) during the period for      
Interest 16,050 3,836 3,474
Income taxes $ 594 $ 73 $ (3,084)