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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 13,054 $ 16,210
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 45,010 32,779
Loss on sales and/or abandonment of property and equipment 803 371
Amortization of right-of-use operating lease assets 5,874  
Write-off of patents and intangible assets 594 86
Acquired in-process research and development 525 306
Amortization of deferred credits (70) (71)
Amortization of long-term debt issuance costs 402 402
Stock-based compensation expense 4,289 2,821
Changes in operating assets and liabilities, net of effects from acquisitions:    
Trade receivables (21,206) (27,947)
Other receivables 427 966
Inventories (5,138) (7,189)
Prepaid expenses and other current assets (1,052) (3,105)
Prepaid income taxes (45) (100)
Income tax refund receivables (3,980) (1,146)
Other assets (2,845) (751)
Trade payables 1,338 15,767
Accrued expenses 1,925 7,467
Income taxes payable (2,059) (2,076)
Deferred compensation payable 1,518 438
Operating lease liabilities (5,882)  
Other long-term obligations 2,208 (179)
Total adjustments 22,636 18,839
Net cash provided by operating activities 35,690 35,049
Capital expenditures for:    
Property and equipment (35,959) (31,559)
Intangible assets (1,607) (1,755)
Proceeds from the sale of property and equipment 22 4
Issuance of note receivable 0 (10,500)
Cash paid in acquisitions, net of cash acquired (37,256) (118,654)
Net cash used in investing activities (74,800) (162,464)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 3,374 3,251
Proceeds from issuance of long-term debt 125,746 320,827
Payments on long-term debt (120,746) (185,827)
Contingent payments related to acquisitions (611) (130)
Net cash provided by financing activities 7,763 138,121
EFFECT OF EXCHANGE RATES ON CASH (830) 470
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (32,177) 11,176
CASH AND CASH EQUIVALENTS:    
Beginning of period 67,359 32,336
End of period 35,182 43,512
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest (net of capitalized interest of $540 and $314, respectively) 5,794 5,714
Income taxes 8,856 5,141
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Property and equipment purchases in accounts payable 3,331 3,943
Acquisition purchases in accrued expenses and other long-term obligations 8,400 0
Merit common stock surrendered (0 and 32 shares, respectively) in exchange for exercise of stock options 0 $ 1,684
Right-of-use operating lease assets obtained in exchange for operating lease liabilities $ 2,927