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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income $ 45,740 $ 53,174
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 10,957 10,330
Amortization of intangibles 10,238 9,881
Net loss (gain) on sale of property, plant and equipment 481 (9,743)
Loss on debt extinguishment 53 174
Deferred income taxes (2,214) (81)
Stock-based compensation 5,377 5,390
Non-cash interest expense 523 1,110
Accounts receivable 10,886 (46,564)
Inventories (80,163) (56,057)
Prepaid expenses and other (325) 1,756
Accounts payable and accrued liabilities 58,210 72,792
Other, net 1,210 (1,691)
Net cash provided by operating activities 60,973 40,471
Cash flows from investing activities    
Capital expenditures (14,995) (11,117)
Proceeds from the sale of property, plant, and equipment 38 16,426
Other, net 0 3,060
Net cash (used in) provided by investing activities (14,957) 8,369
Cash flows from financing activities    
Proceeds from exercise of stock options 55 910
Dividends paid (9,061) (9,271)
Borrowings under revolving credit facilities 288 423
Payments under revolving credit facilities (288) (423)
Principal payments under capital lease obligations (152) (143)
Principal payments under term loan credit facility (15,470) (940)
Principal payments under industrial revenue bond 0 (92)
Debt issuance costs paid (71) 0
Convertible senior notes repurchase 0 (80,200)
Stock repurchase (13,852) (21,413)
Net cash used in financing activities (38,551) (111,149)
Net increase (decrease) in cash, cash equivalents, and restricted cash 7,465 (62,309)
Cash, cash equivalents and restricted cash at beginning of period 132,690 191,521
Cash, cash equivalents, and restricted cash at end of period 140,155 129,212
Supplemental disclosures of cash flow information:    
Cash paid for interest 13,661 14,071
Cash paid for income taxes $ 10,567 $ 12,700