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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES    
Net earnings $ 28,352 $ 39,052
Adjustments to reconcile net earnings to cash provided by operating activities:    
Depreciation 10,668 9,248
Amortization expense (including deferred financing fees) 1,977 1,977
Inventory obsolescence 1,203 1,423
Loss on disposal of property, plant and equipment 29 1
Unrealized foreign currency (gains) losses (122) 1,605
Stock-based compensation 5,043 4,592
Bad debt and customer credits (1,650) 1,282
Changes in assets and liabilities:    
Customer receivables 8,420 16,216
Inventories (8,811) (6,410)
Prepaid and other current assets (1,807) (2,675)
Accounts payable 6,015 (10,109)
Current and deferred income taxes 2,567 710
Other current liabilities (13,729) (9,787)
Other noncurrent assets and liabilities (5,917) (786)
Cash provided by operating activities 32,238 46,339
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures, net (20,756) (15,057)
Cash used in investing activities (20,756) (15,057)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from credit facility 214,000 173,500
Repayment of credit facility (199,000) (185,500)
Payment of dividends (15,729) (14,727)
Proceeds from the issuance of common stock 551 2,120
Purchase of common stock for treasury (10,570) (3,903)
Contingent purchase price payment (6,000) (5,000)
Cash used in financing activities (16,748) (33,510)
Effect of exchange rate changes on cash and cash equivalents 1,336 1,584
Net decrease in cash and cash equivalents (3,930) (644)
Cash and cash equivalents at beginning of period 9,854 4,192
Cash and cash equivalents at end of period $ 5,924 $ 3,548