XML 55 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITES    
Net earnings $ 17,435us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 7,832us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:    
Depreciation 4,303us-gaap_Depreciation 3,864us-gaap_Depreciation
Amortization expense (including deferred financing fees) 962us-gaap_AmortizationOfDeferredCharges 817us-gaap_AmortizationOfDeferredCharges
Unrealized foreign currency (gains) losses (7,271)us-gaap_ForeignCurrencyTransactionGainLossUnrealized (2,708)us-gaap_ForeignCurrencyTransactionGainLossUnrealized
Stock-based compensation 1,385us-gaap_ShareBasedCompensation 1,674us-gaap_ShareBasedCompensation
Other non-cash items 11us-gaap_OtherNoncashIncomeExpense (42)us-gaap_OtherNoncashIncomeExpense
Changes in assets and liabilities, net of acquisition:    
Customer receivables (8,554)us-gaap_IncreaseDecreaseInAccountsReceivable 9,457us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories (5,707)us-gaap_IncreaseDecreaseInInventories (6,387)us-gaap_IncreaseDecreaseInInventories
Accounts payable (29,318)us-gaap_IncreaseDecreaseInAccountsPayable (364)us-gaap_IncreaseDecreaseInAccountsPayable
Current and deferred income taxes 3,337knl_IncreaseDecreaseinCurrentandDeferredIncomeTax 8knl_IncreaseDecreaseinCurrentandDeferredIncomeTax
Prepaid and other current assets (1,229)us-gaap_IncreaseDecreaseInOtherCurrentAssets 1,082us-gaap_IncreaseDecreaseInOtherCurrentAssets
Other current liabilities (5,334)us-gaap_IncreaseDecreaseInOtherCurrentLiabilities (17,169)us-gaap_IncreaseDecreaseInOtherCurrentLiabilities
Other noncurrent assets and liabilities 3,925us-gaap_IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet 14,807us-gaap_IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet
Cash provided by (used in) operating activities (26,055)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 12,871us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (4,864)us-gaap_PaymentsToAcquireProductiveAssets (7,814)us-gaap_PaymentsToAcquireProductiveAssets
Purchase of business, net of cash acquired 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (93,349)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Purchase of licenses 0us-gaap_PaymentsToAcquireIntangibleAssets (315)us-gaap_PaymentsToAcquireIntangibleAssets
Cash used in investing activities (4,864)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (101,478)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from credit facility 101,000us-gaap_ProceedsFromLinesOfCredit 185,000us-gaap_ProceedsFromLinesOfCredit
Repayment of credit facility (59,000)us-gaap_RepaymentsOfLinesOfCredit (90,000)us-gaap_RepaymentsOfLinesOfCredit
Payment of dividends (5,729)us-gaap_PaymentsOfDividendsCommonStock (5,679)us-gaap_PaymentsOfDividendsCommonStock
Proceeds from the issuance of common stock 3,826us-gaap_ProceedsFromIssuanceOfCommonStock 36us-gaap_ProceedsFromIssuanceOfCommonStock
Purchase of common stock for treasury (6,067)us-gaap_PaymentsForRepurchaseOfCommonStock (3,691)us-gaap_PaymentsForRepurchaseOfCommonStock
Contingent purchase price payment (5,000)us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 0us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
Excess tax benefit from the exercise of stock options and vesting of equity awards 658us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 0us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Cash provided by financing activities 29,688us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 85,666us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate changes on cash and cash equivalents (3,115)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations 49us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
Decrease in cash and cash equivalents (4,346)us-gaap_NetCashProvidedByUsedInContinuingOperations (2,892)us-gaap_NetCashProvidedByUsedInContinuingOperations
Cash and cash equivalents at beginning of period 19,021us-gaap_CashAndCashEquivalentsAtCarryingValue 12,026us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of period $ 14,675us-gaap_CashAndCashEquivalentsAtCarryingValue $ 9,134us-gaap_CashAndCashEquivalentsAtCarryingValue