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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Operating Activities    
Net income $ 67,177 $ 65,307
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,283 16,366
Gain on divestiture 0 (1,284)
Loss on disposal of property and equipment 19 37
Deferred income taxes 5,827 339
Amortization of debt origination costs 1,711 3,021
Stock-based compensation costs 3,902 4,328
Non-cash operating lease cost 3,154 0
Other 0 247
Changes in operating assets and liabilities:    
Accounts receivable 5,982 (7,718)
Inventories (6,400) (4,145)
Prepaid expenses and other current assets (3,128) 1,302
Accounts payable 8,465 4,187
Accrued liabilities 6,616 14,339
Operating lease liabilities (3,398) 0
Other (1,210) (1,219)
Net cash provided by operating activities 103,000 95,107
Investing Activities    
Purchases of property, plant and equipment (5,822) (5,074)
Proceeds from divestiture 0 65,912
Net cash (used in) provided by investing activities (5,822) 60,838
Financing Activities    
Term loan repayments 0 (100,000)
Borrowings under revolving credit agreement 30,000 30,000
Repayments under revolving credit agreement (76,000) (30,000)
Proceeds from exercise of stock options 544 1,028
Fair value of shares surrendered as payment of tax withholding (880) (2,281)
Repurchase of common stock (49,976) (49,978)
Net cash used in financing activities (96,312) (151,231)
Effects of exchange rate changes on cash and cash equivalents (491) (352)
Increase in cash and cash equivalents 375 4,362
Cash and cash equivalents - beginning of period 27,530 32,548
Cash and cash equivalents - end of period 27,905 36,910
Interest paid 48,033 49,147
Income taxes paid $ 14,655 $ 7,778