XML 42 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Unaudited Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net income $ 37,330 $ 25,173
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,276 10,948
Amortization of deferred financing costs 257 65
Accretion of debt discount 0 55
Gain on sale of assets (2,552) (3,452)
Stock compensation expense 7,429 8,697
Deferred income tax provision (benefit) 237 (315)
Excess tax benefit related to share-based awards (3,425) (835)
Changes in current assets and liabilities:    
Restricted cash (450) 150
Accounts receivable, net (3,896) (6,521)
Inventories (18,035) (2,055)
Other current assets (4,957) 259
Accounts payable 12,617 (17,341)
Accrued liabilities 1,019 4,931
Income taxes payable 1,082 1,585
Interest payable (35) 16
Net cash provided by operating activities 39,897 21,360
Cash flows from investing activities:    
Capital expenditures (13,494) (9,985)
Proceeds from sale of assets 3,322 4,595
Payments for acquisitions, net of cash acquired (5,704) (53,396)
Purchase of patents and other intangible assets (780) 0
Net cash used in investing activities (16,656) (58,786)
Cash flows from financing activities:    
Repayments of indebtedness (8,506) (9,777)
Proceeds of borrowings 0 26,190
Borrowings on revolving credit facility 305,750 231,696
Repayments on revolving credit facility (317,798) (204,319)
Debt issuance costs (256) (1,207)
Issuance costs of preferred stock and detachable warrants 0 (200)
Excess tax benefit related to share-based awards 3,425 835
Acquisition of treasury stock related to share-based awards (6,060) (5,325)
Proceeds from sale of common stock 763 567
Proceeds from exercise of stock options 461 491
Proceeds from exercise of stock warrants 1,545 323
Net cash (used in) provided by financing activities (20,676) 39,274
Effect of changes in exchange rates on cash and cash equivalents (38) (179)
Net increase in cash and cash equivalents 2,527 1,669
Cash and cash equivalents at the beginning of period 2,730 2,700
Cash and cash equivalents at the end of period $ 5,257 $ 4,369