XML 17 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net income $ 43,118 $ 63,055
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 8,412 8,173
Amortization of intangibles 8,597 9,978
Net (gain) loss on the sale of assets (2,502) 17
Deferred income taxes 45 1,770
Excess tax benefits from stock-based compensation 0 (605)
Loss on debt extinguishment 764 487
Stock-based compensation 5,430 5,702
Imparment of goodwill 0 1,663
Non-cash interest expense 1,042 1,830
Changes in operating assets and liabilities    
Accounts receivable 30,656 20,873
Inventories (60,748) (46,034)
Prepaid expenses and other 3,998 (16,911)
Accounts payable and accrued liabilities 35,285 25,154
Other, net 1,147 1,113
Net cash provided by operating activities 75,244 76,265
Cash flows from investing activities    
Capital expenditures (10,856) (8,115)
Proceeds from the sale of property, plant, and equipment 3,736 17
Other, net 1,220 0
Net cash used in investing activities (5,900) (8,098)
Cash flows from financing activities    
Proceeds from exercise of stock options 5,630 1,397
Excess tax benefits from stock-based compensation 0 605
Dividends paid (7,767) 0
Borrowings under revolving credit facilities 371 316
Payments under revolving credit facilities (371) (316)
Principal payments under capital lease obligations (303) (443)
Proceeds from issuance of term loan credit facility 189,470 0
Principal payments under term loan credit facility (190,418) (964)
Principal payments under industrial revenue bond (311) (256)
Debt issuance costs paid (354) 0
Stock repurchase (42,794) (17,698)
Convertible senior notes repurchase (7,331) (42,061)
Net cash used in financing activities (54,178) (59,420)
Net increase in cash and cash equivalents 15,166 8,747
Cash and cash equivalents at beginning of period 163,467 178,853
Cash and cash equivalents at end of period $ 178,633 $ 187,600