XML 17 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net income $ 1,901 $ 33,675
Adjustments to reconcile net income to net cash used for operating activities:    
Depreciation, amortization and accretion 7,145 6,327
Amortization of inventory step-up 12,237 452
Accretion of investment discount (69) (194)
Provision for accounts receivable allowances 2,977 4,113
Deferred tax (benefit) provision (3,555) 245
Share-based compensation expense 1,386 1,161
Gain on bargain purchases 0 (20,087)
(Gain) loss on sale of assets (14) 52
Changes in assets and liabilities, net of effects of purchase of businesses:    
Accounts receivable (62,905) (62,763)
Inventory 14,147 (1,938)
Prepaid expenses and other assets 85 3,125
Accounts payable 5,948 3,255
Other accrued liabilities and long-term obligations 10,312 6,975
Total adjustments (12,306) (59,277)
Net cash used for operating activities (10,405) (25,602)
Cash flows from investing activities:    
Maturities of investment securities 20,000 60,000
Purchase of businesses, net of cash received of $1,889 in fiscal 2018 (65,228) (15,039)
Purchase of property, plant and equipment (3,964) (4,037)
Purchase of company owned life insurance policy (750) 0
Purchase of intangibles 0 (100)
Proceeds from sale of fixed assets 14 311
Net cash (used for) provided by investing activities (49,928) 41,135
Cash flows from financing activities:    
Borrowings on notes payable 78,781 0
Payments on notes payable (30,350) 0
Payments on long-term debt (200) 0
Dividends paid (5,469) (5,453)
Exercise of stock options, net of tax withholdings 201 124
Payments for tax withholding on net restricted stock settlements 0 (527)
Tax effect on stock awards 0 277
Net cash provided by (used for) financing activities 42,963 (5,579)
Effect of exchange rate changes on cash (26) 188
Net (decrease) increase in cash and cash equivalents (17,396) 10,142
Cash and cash equivalents at beginning of period 47,693 19,927
Cash and cash equivalents at end of period $ 30,297 $ 30,069