XML 18 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 27,378 $ 17,177
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 4,683 4,705
Provision for doubtful accounts 248 197
Share based compensation 1,022 421
Deferred tax provision (benefit) 609 (862)
Change in fair value of derivatives (3,357) 338
Changes in:    
Accounts receivable (7,103) (4,460)
Inventories (32,591) (24,417)
Other assets 734 (611)
Accounts payable and accrued expenses (1,925) 3,633
Income taxes, net (396) (2,021)
Net cash used in operating activities (10,698) (5,900)
Cash flows from investing activities:    
Purchases of short-term investments (25,018) (37,119)
Proceeds from sale of short-term investments 4,328 5,576
Purchases of equipment and leasehold improvements (1,419) (2,963)
Payment for intangible assets acquired (402) (370)
Proceeds from sale of trademark 5,886
Net cash used in investing activities (16,625) (34,876)
Cash flows from financing activities:    
Repayments of long-term debt (10,679) (11,085)
Proceeds from exercise of stock options 625 402
Proceeds from sale of shares of subsidiary 428
Dividends paid (10,592) (8,691)
Dividends paid to noncontrolling interest (5,947) (4,863)
Net cash (used in) financing activities (26,593) (23,809)
Effect of exchange rate changes on cash 8,860 3,468
Net decrease in cash and cash equivalents (45,056) (61,117)
Cash and cash equivalents - beginning of period 161,828 176,967
Cash and cash equivalents - end of period 116,772 115,850
Cash paid for:    
Interest 896 1,100
Income taxes $ 10,905 $ 13,985