XML 21 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Interim Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating Activities    
Net income $ 19,221 $ 17,069
Adjustment to reconcile net income to net cash provided by (used in) operating activities:    
Provision for doubtful accounts 172 500
Depreciation 9,155 9,361
Amortization of intangibles 1,549 1,563
Amortization of debt issuance costs 106 106
Stock-based compensation expense 724 466
Excess tax benefits from stock-based payment arrangements (141) (39)
Provision for deferred income tax expense (benefit) 262 (858)
Gain on sale of property, plant and equipment (239) (83)
Changes in operating assets and liabilities, net of amounts acquired:    
Accounts receivable (20,149) (22,152)
Inventories (9,519) (11,713)
Rental equipment 153 (14,496)
Prepaid expenses and other assets (1,895) (1,353)
Trade accounts payable and accrued liabilities 5,736 9,617
Income taxes payable (193) 3,647
Other long-term liabilities (83) (394)
Net cash provided by (used in) operating activities 4,859 (8,759)
Investing Activities    
Acquisitions, net of cash acquired (188) (3,465)
Purchase of property, plant and equipment (6,191) (5,101)
Proceeds from sale of property, plant and equipment 500 99
Net cash used in investing activities (5,879) (8,467)
Financing Activities    
Borrowings on bank revolving credit facility 49,000 52,000
Repayments on bank revolving credit facility (29,000) (39,000)
Principal payments on long-term debt and capital leases (10) (19)
Proceeds from issuance of debt 918 0
Dividends paid (2,051) (1,808)
Proceeds from sale of common stock 998 1,939
Excess tax benefits from stock-based payment arrangements 141 39
Stock repurchased (19) 0
Net cash provided by financing activities 19,977 13,151
Effect of exchange rate changes on cash and cash equivalents (907) (936)
Net change in cash and cash equivalents 18,050 (5,011)
Cash and cash equivalents at beginning of the period 26,922 39,533
Cash and cash equivalents at end of the period 44,972 34,522
Cash paid during the period for:    
Interest 2,918 3,157
Income taxes $ 11,725 $ 8,138