XML 16 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Statement of Cash Flows [Abstract]    
Net income $ 90,305 $ 62,239
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of assets and other (147) (262)
Depreciation and amortization 19,739 19,515
Noncash lease expense 4,025 3,243
Deferred income taxes 1,973 1,911
Noncash compensation related to stock plans 5,428 6,600
Provision (benefit) of doubtful accounts (35) 98
Changes in operating assets and liabilities:    
Trade accounts receivable (95,875) (45,078)
Inventories (14,377) 9,708
Trade accounts payable 15,268 4,318
Other current assets (4,529) (1,269)
Accrued liabilities and other current liabilities 22,923 (3,852)
Other noncurrent assets and liabilities (1,932) (3,590)
Net cash provided by operating activities 42,766 53,581
Cash flows from investing activities    
Capital expenditures (14,083) (15,259)
Asset acquisitions, net of cash acquired 0 (3,492)
Proceeds from sale of property and equipment 639 2,493
Net cash used in investing activities (13,444) (16,258)
Cash flows from financing activities    
Repurchase of common stock (62,679) (30,000)
Proceeds from line of credit 159,412 10,742
Repayments of line of credit and capital leases (10,387) (10,726)
Payments of Debt Issuance Costs (712) 0
Dividends paid (20,158) (19,726)
Cash paid on behalf of employees for shares withheld (7,743) (5,899)
Net cash provided by (used) in financing activities 57,733 (55,609)
Effect of exchange rate changes on cash and cash equivalents (1,817) (163)
Net increase (decrease) in cash and cash equivalents 85,238 (18,449)
Cash and cash equivalents at beginning of period 230,210 160,180
Cash and cash equivalents at end of period 315,448 141,731
Noncash activity during the period    
Noncash capital expenditures 1,308 1,636
Dividends declared but not paid 9,989 10,284
Issuance of Company’s common stock for compensation $ 322 $ 292