XML 16 R5.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
Operating Activities    
Net income $ 56,732 $ 47,430
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 7,513 7,417
Stock-based compensation 2,876 2,945
Loss (gain) on disposal of property, plant and equipment 1,343 (204)
Other non-cash adjustments (405) (285)
Changes in operating assets and liabilities:    
Accounts receivable (81,842) (48,268)
Inventories 1,604 4,348
Prepaid expenses and other assets 3,701 (67)
Accounts payable 4,370 (161)
Accrued expenses and other liabilities (5,680) (7,901)
Income taxes receivable/payable 9,907 11,188
Net cash provided by operating activities 119 16,442
Investing Activities    
Expenditures for property, plant and equipment (7,125) (5,182)
Proceeds from sales of property, plant and equipment   4,349
Net cash used in investing activities (7,125) (833)
Financing Activities    
Borrowings under line of credit 163,000 194,000
Principal payments under line of credit (163,000) (158,000)
Repurchases of common stock (3,271) (54,703)
Financing costs   (485)
Proceeds from employee stock purchase and option plans 189 137
Net cash used in financing activities (3,082) (19,051)
Net decrease in cash and cash equivalents (10,088) (3,442)
Cash and cash equivalents, beginning of period 18,664 5,995
Cash and cash equivalents, end of period 8,576 2,553
Supplemental Disclosure:    
Cash paid for interest 364 696
Cash paid for income taxes, net $ 19,600 $ 13,982