XML 15 R5.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:    
Net income $ 145,971 $ 160,374
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion 38,127 37,808
Change in fair value of contingent consideration (4,451) (1,559)
Provision for doubtful accounts, net 3,225 987
Deferred tax provision 4,823 1,342
Stock compensation 5,417 9,450
Gain on sale of assets (938) 0
Impairment of long-lived assets 6,773 0
Other 197 2,835
Changes in operating assets and liabilities:    
Trade accounts receivable (56,819) (83,207)
Inventories (130,844) (81,742)
Prepaid expenses and other current assets (22,411) (29,481)
Income tax receivable 17,121 2,303
Other assets (2,650) (918)
Trade accounts payable 106,425 94,365
Contingent consideration (797) (364)
Accrued expenses 22,984 33,508
Income taxes payable 8,738 44,444
Long-term liabilities 4,740 3,400
Net cash provided by operating activities 145,631 193,545
Cash flows from investing activities:    
Purchases of property and equipment (50,535) (66,663)
Purchases of tangible, intangible, and other assets, net (4,700) (9,489)
Proceeds from sale of assets 2,435 0
Net cash used in investing activities (52,800) (76,152)
Cash flows from financing activities:    
Proceeds from issuance of short-term borrowings 386,200 199,784
Repayments of short-term borrowings (367,896) (201,706)
Cash paid for shares withheld for taxes (1,790) (3,956)
Excess tax benefit from stock compensation 59 1,614
Cash paid for repurchases of common stock (69,201) (13,306)
Contingent consideration paid (161) (115)
Loan origination costs on short-term borrowings (59) (818)
Proceeds from mortgage loan 0 33,931
Mortgage loan origination costs 0 (338)
Repayment of mortgage principal (365) (157)
Net cash (used in) provided by financing activities (53,213) 14,933
Effect of exchange rates on cash (1,752) (7,972)
Net change in cash and cash equivalents 37,866 124,354
Cash and cash equivalents at beginning of period 225,143 245,088
Cash and cash equivalents at end of period 263,009 369,442
Cash paid during the period for:    
Income taxes 8,739 10,089
Interest 2,151 2,660
Non-cash investing and financing activities:    
Accrued for purchases of property and equipment 3,086 2,593
Accrued for asset retirement obligations 933 297
Accrued for shares withheld for taxes $ 0 $ 1,713