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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net income $ 31,560 $ 32,538
Adjustments to reconcile net income to net cash provided by and used in operating activities:    
Gain on sale of assets (31) (319)
Depreciation and amortization 14,716 14,785
Gain on contingent consideration adjustment (245) 0
Deferred income taxes 2,286 43
Noncash compensation related to stock plans 6,588 6,201
Excess tax benefit of options exercised and restricted stock units vested (60) (14)
Provision for doubtful accounts 17 141
Changes in operating assets and liabilities, net of acquisitions:    
Trade accounts receivable (50,480) (47,732)
Inventories 2,092 (21,597)
Trade accounts payable 4,651 (7,138)
Income taxes payable 9,363 8,170
Accrued profit sharing trust contributions (2,211) (2,367)
Accrued cash profit sharing and commissions 7,705 6,157
Other current assets 1,009 (2,294)
Accrued liabilities (3,499) 1,800
Long-term liabilities (269) 2,608
Accrued workers’ compensation 356 (162)
Other noncurrent assets 1,204 (318)
Net cash provided by (used in) operating activities 24,752 (9,498)
Cash flows from investing activities    
Capital expenditures (13,534) (9,298)
Asset acquisitions, net of cash acquired (779) 0
Proceeds from sale of property and equipment 113 565
Loan made to customer 0 (281)
Loan repayment by customer 243 4
Net cash used in investing activities (13,957) (9,010)
Cash flows from financing activities    
Deferred and contingent consideration paid for asset acquisition (1,177) (1,293)
Repayment of debt and line of credit borrowings (17) (41)
Repurchase of common stock (8,464) 0
Issuance of common stock 5,576 2,626
Excess tax benefit of options exercised and restricted stock units vested 60 14
Dividends paid (13,768) (12,207)
Net cash used in financing activities (17,790) (10,901)
Effect of exchange rate changes on cash and cash equivalents (4,700) (603)
Net decrease in cash and cash equivalents (11,695) (30,012)
Cash and cash equivalents at beginning of period 260,307 251,208
Cash and cash equivalents at end of period 248,612 221,196
Noncash activity during the period    
Noncash capital expenditures 0 672
Dividends declared but not paid 7,896 6,853
Issuance of Company’s common stock for compensation $ 552 $ 402