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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2019
Sep. 30, 2018
OPERATING ACTIVITIES    
Net income $ 58,459 $ 43,965
Reconciliation of net income to cash used in operating activities:    
Depreciation, amortization and accretion 19,966 22,134
Loss on extinguishment of debt 0 445
Bad debt expense 976 2,394
Deferred tax benefit (412) (2,009)
Stock-based compensation 8,401 7,362
Employee stock purchase plan 96 90
Excess tax benefits from stock-based compensation (2,004) (1,336)
Loss (gain) on disposal of property and equipment 391 (94)
Impairment of intangible and other long-lived assets 123 0
Restructuring charges 0 295
Changes in operating assets and liabilities:    
Trade accounts receivable, net (156,975) (158,883)
Inventories, net (280,032) (227,257)
Prepaid expenses and other current assets (15,049) (4,965)
Income tax receivable (3,152) 445
Net operating lease assets and liabilities (817)  
Other assets (139) 1,722
Trade accounts payable 188,413 183,638
Accrued expenses (31,056) (27,928)
Income taxes payable (3,331) 1,921
Long-term liabilities (14) (2,675)
Net cash used in operating activities (216,156) (160,736)
INVESTING ACTIVITIES    
Purchases of property and equipment (14,944) (14,091)
Proceeds from sale of property and equipment, net 240 68
Net cash used in investing activities (14,704) (14,023)
FINANCING ACTIVITIES    
Proceeds from short-term borrowings 29,463 108,001
Repayments of short-term borrowings (16,000) (37,000)
Debt issuance costs on short-term borrowings 0 (1,276)
Proceeds from issuance of stock for employee stock purchase plan 618 475
Proceeds from exercise of options 2,959 0
Repurchase of common stock (190,405) (134,735)
Cash paid for shares withheld for taxes (5,744) (4,590)
Repayment of mortgage principal (294) (279)
Net cash used in financing activities (179,403) (69,404)
Effect of foreign currency exchange rates on cash (1,756) (3,615)
Net change in cash and cash equivalents (412,019) (247,778)
Cash and cash equivalents at beginning of period 589,692 429,970
Cash and cash equivalents at end of period 177,673 182,192
Cash paid during the period    
Income taxes, net of refunds of $5,282 and $3,730, as of September 30, 2019 and 2018, respectively 17,508 8,682
Interest 1,118 2,272
Operating leases 30,093  
Non-cash investing activities    
Accrued for purchases of property and equipment 4,260 2,968
Accrued for asset retirement obligations $ 96 $ 70