XML 53 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated statements of cash flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash flows from operating activities      
Net income $ 129,604 $ 151,530 $ 93,593
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation expense 36,166 31,458 26,245
Amortization of intangible assets 24,413 20,346 14,530
Share-based compensation expense 19,038 8,179 5,156
Earnings from equity investment, net of distributions (1,376) 0 0
Payment of contingent consideration included in operating expense 0 (7,127) 0
Change in contingent consideration 0 (4,568) 12,100
Impairment of intangible assets 0 1,161 0
Deferred income taxes 15,622 (6,349) (1,482)
Deferred loan costs written off 2,149 0 0
Other 1,083 2,108 4,300
Changes in operating assets and liabilities      
Accounts receivable—trade 1,188 12,872 (62,350)
Inventories 33,135 (100,268) (90,634)
Prepaid expenses and other current assets (20,415) 15,636 (10,477)
Cost and estimated profit in excess of billings (16,705) 5,403 (5,210)
Accounts payable, deferred revenue and other accrued liabilities (1,475) (4,781) 56,256
Billings in excess of costs and estimated profits earned (11,034) 12,341 (2,752)
Net cash provided by operating activities 211,393 137,941 39,275
Cash flows from investing activities      
Acquisition of businesses, net of cash acquired (181,718) (139,889) (509,857)
Investment in unconsolidated subsidiary (112,241) 0 0
Distribution from unconsolidated subsidiary 64,228 0 0
Capital expenditures for property and equipment (60,263) (49,685) (41,163)
Proceeds from sale of property and equipment and other 964 5,051 906
Net cash (used in) investing activities (289,030) (184,523) (550,114)
Cash flows from financing activities      
Borrowings under Credit Facility due to acquisitions 181,718 139,889 509,857
Borrowings under Credit Facility 223,235 63,397 10,490
Issuance of Senior Notes 403,250 0  
Repayment of long-term debt (715,131) (454,019) (61,973)
Proceeds of IPO, net of offering costs 0 256,381 0
Proceeds from concurrent private placement 0 50,000 0
Payment of contingent consideration accrued at acquisition (11,435) (11,100) 0
Repurchases of stock (4,316) (56) (54)
Excess tax benefits from stock based compensation 7,202 7,337 1,027
Proceeds from stock issuance 5,458 14,432 57,046
Payment of capital lease obligation (924) (464) (310)
Deferred financing costs (12,003) (15) (5,935)
Net cash provided by financing activities 77,054 65,782 510,148
Effect of exchange rate changes on cash (898) 1,315 891
Net increase (decrease) in cash and cash equivalents (1,481) 20,515 200
Cash and cash equivalents      
Beginning of period 41,063 20,548 20,348
End of period 39,582 41,063 20,548
Supplemental cash flow disclosures      
Interest paid 17,977 15,224 17,700
Income taxes paid 41,356 59,439 29,127
Noncash investing and financing activities      
Insurance policy financed through notes payable 0 6,348 1,717
Payment of contingent consideration via stock 4,075 3,341 0
Accrued purchases of property and equipment 1,526 0 0
Acquisition via contingent consideration and stock $ 0 $ 0 $ 68,754