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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income $ 27,524 $ 10,474
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation 4,176 4,138
Amortization of intangibles 4,988 5,314
Deferred income taxes 7,595 1,642
Excess tax benefits from stock-based compensation (1,090) 0
Loss on debt extinguishment 487 5,286
Stock-based compensation 2,470 2,420
Non-cash interest expense 948 1,185
Changes in operating assets and liabilities    
Accounts receivable (6,619) (21,686)
Inventories (41,227) (65,843)
Prepaid expenses and other (3,763) 3,216
Accounts payable and accrued liabilities 46,316 57,625
Other, net 1,099 458
Net cash provided by (used in) operating activities 42,904 4,229
Cash flows from investing activities    
Capital expenditures (2,976) (2,975)
Net cash provided by (used in) by investing activities (2,976) (2,975)
Cash flows from financing activities    
Proceeds from exercise of stock options 192 719
Excess tax benefits from stock-based compensation 1,090 0
Borrowings under revolving credit facilities 175 163
Payments under revolving credit facilities (175) (163)
Principal payments under capital lease obligations (225) (432)
Proceeds from issuance of term loan credit facility 0 192,845
Principal payments under term loan credit facility (482) (192,845)
Principal payments under industrial revenue bond (127) (122)
Debt issuance costs paid 0 (1,994)
Stock repurchase (8,757) (19,929)
Convertible senior notes repurchase (42,061) 0
Net cash provided by (used in) financing activities (50,370) (21,758)
Net increase (decrease) in cash and cash equivalents (10,442) (20,504)
Cash and cash equivalents at beginning of period 178,853 146,113
Cash and cash equivalents at end of period $ 168,411 $ 125,609