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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 35,708 $ 23,220
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 23,576 22,819
Amortization of debt issuance costs and debt discount 1,149 1,149
Gain on extinguishment of debt (680)  
Deferred income taxes 9,638 1,497
Stock compensation expense 2,659 2,890
Gain on sale of assets (464) (245)
Changes in assets and liabilities:    
Receivables 22,703 (57,132)
Inventories (38,603) (85,958)
Other current assets 4,732 (9,481)
Other assets and liabilities (1,319) 1,552
Accounts payable 47,371 4,376
Accrued liabilities (100,395) (83,012)
Net cash provided by (used in) operating activities 6,075 (178,325)
Cash flows from investing activities:    
Purchases of property, plant and equipment (21,524) (20,113)
Proceeds from sale of property, plant and equipment 720 568
Net cash used in investing activities (20,804) (19,545)
Cash flows from financing activities:    
Borrowings under revolving credit facility 374,000 555,000
Repayments under revolving credit facility (331,000) (399,000)
Repayments of long-term debt and other loans (24,440) (2,780)
Exercise of stock options 216 2,041
Repurchase of common stock (2,450) (4,855)
Net cash provided by financing activities 16,326 150,406
Net change in cash and cash equivalents 1,597 (47,464)
Cash and cash equivalents at beginning of period 10,127 57,533
Cash and cash equivalents at end of period $ 11,724 $ 10,069