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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 32,767 $ 40,940
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of business 0 (18,647)
Depreciation and amortization 14,064 12,968
Inventory step-up amortization 1,607 0
Deferred income taxes (719) (867)
Stock based compensation 3,070 2,283
Income from equity method investment (51) 0
Loss on disposition of property, plant and equipment 0 273
Changes in operating assets and liabilities:    
Accounts receivable (15,380) (11,649)
Inventories (150) (11,817)
Accounts payable 10,930 2,511
Accrued payroll and other compensation 2,652 (2,962)
Accrued taxes 2,096 5,987
Other, net (3,464) (4,123)
Net cash provided by operating activities 47,422 14,897
Cash flows from investing activities:    
Business acquisitions, net of cash acquired (101,099) 0
Proceeds from the sale of business, net 0 28,550
Capital expenditures (19,032) (15,460)
Net cash (used for) provided by investing activities (120,131) 13,090
Cash flows from financing activities:    
Proceeds from borrowings 85,000 0
Debt repayments (10,320) (428)
Common stock issued 611 1,211
Common stock repurchased (809) (8,481)
Excess tax benefit on stock awards 0 522
Net cash provided by (used for) financing activities 74,482 (7,176)
Effect of exchange rate changes on cash (565) (2,599)
Increase in cash and cash equivalents 1,208 18,212
Cash and cash equivalents at beginning of period 75,909 62,051
Cash and cash equivalents at end of period $ 77,117 $ 80,263