XML 83 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash Flows From Operating Activities:      
Net income $ 108,996 [1],[2] $ 112,757 [1],[3] $ 100,985
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 28,927 31,669 35,797
Amortization of intangible assets 5,126 5,171 4,950
Amortization of capitalized financing costs 974 735 927
Share-based compensation 15,734 14,100 12,266
Excess tax benefits related to share-based compensation (6,858) (5,477) (712)
Loss on the disposition of property, plant and equipment 59 117 566
Asset impairment charge 1,635    
Deferred income taxes 20,914 12,916 (10,340)
Changes in operating assets and liabilities, excluding the effects of acquisitions:      
(Increase) decrease in accounts receivable (31,686) 13,928 (31,175)
(Increase) decrease in inventories (58,376) (92,055) 89,815
(Increase) decrease in other assets (18,656) (2,593) 2,106
Increase in accounts payable 89,195 35,384 647
(Decrease) increase in checks in-transit (11,803) (5,178) 49,244
(Decrease) increase in accrued liabilities (1,228) 4,550 (18,212)
(Decrease) increase in other liabilities (12,590) (11,201) 2,531
Net cash provided by operating activities 130,363 114,823 239,395
Cash Flows From Investing Activities:      
Capital expenditures (27,981) (27,276) (14,924)
Proceeds from the disposition of property, plant and equipment 63 58 95
Acquisitions and investment, net of cash acquired   (15,527)  
Net cash used in investing activities (27,918) (42,745) (14,829)
Cash Flows From Financing Activities:      
Net borrowings (repayments) under Revolving Credit Facilities 91,757   (221,300)
Repayments of debt (376,800)    
Proceeds from the issuance of debt 340,000    
Payment of debt issuance costs (2,817) (99) (897)
Net proceeds from the exercise of stock options 9,264 38,450 4,818
Acquisition of treasury stock, at cost (162,674) (113,183)  
Payment of cash dividend (17,517)    
Excess tax benefits related to share-based compensation 6,858 5,477 712
Net cash used in financing activities (111,929) (69,355) (216,667)
Effect of exchange rate changes on cash and cash equivalents (34) 23 (6)
Net change in cash and cash equivalents (9,518) 2,746 7,893
Cash and cash equivalents, beginning of period 21,301 18,555 10,662
Cash and cash equivalents, end of period $ 11,783 $ 21,301 $ 18,555
[1] As a result of changes in the number of common and common equivalent shares during the year, the sum of quarterly earnings per share will not necessarily equal earnings per share for the total year.
[2] 2011 results were impacted by the following items: (1) a $0.7 million or $0.01 per diluted share reversal for early retirement/workforce realignment in the fourth quarter (2) a $4.4 million or $0.05 per diluted share charge for equity compensation for the CEO transition in the second quarter and (3) a $1.6 million, or $0.03 per diluted share charge for an asset impairment in the first quarter.
[3] 2010 results were impacted by the following items: (1) a $9.1 million or $0.23 per diluted share charge for early retirement/workforce realignment in the fourth quarter (2) an $11.9 million or $0.30 per diluted share reversal for vacation pay policy change in the fourth quarter and (3) an $8.8 million, or $0.23 per diluted share reversal for Retiree Medical Plan termination in the second, third, and fourth quarters.