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Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating Activities    
Net income $ 17,069 $ 16,433
Adjustment to reconcile net income to net cash used in operating activities:    
Provision for doubtful accounts 500 106
Depreciation 9,361 4,913
Amortization of intangibles 1,563 55
Amortization of debt issuance costs 106 77
Stock-based compensation expense 466 1,660
Excess tax benefits from stock-based payment arrangements (39) (426)
Provision for deferred income tax benefit (858) (1,332)
Gain on sale of property, plant and equipment (83) (895)
Changes in operating assets and liabilities, net of amounts acquired:    
Accounts receivable (22,152) (32,856)
Inventories (11,713) (22,876)
Rental equipment (14,496) 0
Prepaid expenses and other assets (1,353) 2,946
Trade accounts payable and accrued liabilities 9,617 16,292
Income taxes payable 3,647 874
Other long-term liabilities (394) (96)
Net cash used in operating activities (8,759) (15,125)
Investing Activities    
Acquisitions, net of cash acquired (3,465) (195,612)
Purchase of property, plant and equipment (5,101) (4,319)
Proceeds from sale of property, plant and equipment 99 1,004
Net cash used in investing activities (8,467) (198,927)
Financing Activities    
Borrowings on bank revolving credit facility 52,000 200,000
Repayments on bank revolving credit facility (39,000) (12,000)
Principal payments on long-term debt and capital leases (19) (118)
Proceeds from issuance of debt 0 778
Debt issuance cost 0 (818)
Dividends paid (1,808) (1,692)
Proceeds from sale of common stock 1,939 334
Excess tax benefits from stock-based payment arrangements 39 426
Net cash provided by financing activities 13,151 186,910
Effect of exchange rate changes on cash and cash equivalents (936) 541
Net change in cash and cash equivalents (5,011) (26,601)
Cash and cash equivalents at beginning of the period 39,533 63,960
Cash and cash equivalents at end of the period 34,522 37,359
Cash paid during the period for:    
Interest 3,157 500
Income taxes $ 8,138 $ 9,201