XML 25 R8.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities    
Net income $ 53,156 $ 53,151
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of assets (57) (336)
Depreciation and amortization 21,664 22,105
Write-off of software development project 3,140 0
Impairment loss on assets 0 492
Gain on contingent consideration adjustment (245) (386)
Deferred income taxes 1,701 1,324
Noncash compensation related to stock plans 9,528 9,508
Excess tax benefit of options exercised and restricted stock units vested (67) (66)
Provision for doubtful accounts 153 25
Changes in operating assets and liabilities, net of acquisitions:    
Trade accounts receivable (42,851) (39,357)
Inventories 13,567 (3,235)
Trade accounts payable 3,026 (9,121)
Income taxes payable 8,151 5,652
Accrued profit sharing trust contributions (997) (1,103)
Accrued cash profit sharing and commissions 6,577 7,743
Other current assets 4,293 (2,307)
Accrued liabilities (6,716) 3,102
Long-term liabilities (3,093) 2,728
Accrued workers’ compensation 385 (159)
Other noncurrent assets 954 (603)
Net cash provided by operating activities 72,269 49,157
Cash flows from investing activities    
Capital expenditures (19,163) (17,517)
Asset acquisitions, net of cash acquired (779) 0
Proceeds from sale of property and equipment 136 612
Loan made to customer 0 (281)
Loan repayment by customer 244 22
Net cash used in investing activities (19,562) (17,164)
Cash flows from financing activities    
Deferred and contingent consideration paid for asset acquisition (1,177) (1,293)
Repurchase of common stock (47,144) (2,981)
Repayment of debt and line of credit borrowings (18) (60)
Issuance of common stock 7,019 4,178
Excess tax benefit of options exercised and restricted stock units vested 67 66
Dividends paid (21,628) (19,065)
Net cash used in financing activities (62,881) (19,155)
Effect of exchange rate changes on cash and cash equivalents (7,338) (5,808)
Net increase (decrease) in cash and cash equivalents (17,512) 7,030
Cash and cash equivalents at beginning of period 260,307 251,208
Cash and cash equivalents at end of period 242,795 258,238
Noncash activity during the period    
Noncash capital expenditures 0 501
Dividends declared but not paid 7,872 6,862
Issuance of Company’s common stock for compensation $ 552 $ 402