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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net earnings $ 39,327 $ 33,003
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 5,044 5,433
Amortization of intangible assets 3,823 3,611
Provision for losses on accounts receivable 1,413 346
Write-downs of inventories 1,408 629
Write-off of property and equipment   303
Non-cash stock-based compensation 4,115 3,184
Deferred income taxes 547 979
Changes in assets and liabilities:    
Decrease in accounts receivable 210,691 184,877
(Increase) Decrease in inventories (39,658) 4,444
Increase in other assets (107,314) (25,514)
Decrease in accounts payable (82,246) (97,104)
Increase in deferred revenue 7,117 16,177
Increase in accrued expenses and other liabilities 77,646 20,377
Net cash provided by operating activities 121,913 150,745
Cash flows from investing activities:    
Purchases of property and equipment (5,352) (5,044)
Acquisitions, net of cash and cash equivalents acquired (762)  
Net cash used in investing activities (6,114) (5,044)
Cash flows from financing activities:    
Borrowings on senior revolving credit facility 49,936 276,684
Repayments on senior revolving credit facility (49,936) (392,184)
Borrowings on accounts receivable securitization financing facility 1,010,500 1,024,000
Repayments on accounts receivable securitization financing facility (1,092,500) (955,000)
Repayments under Term Loan A   (3,281)
Repayments under other financing agreements   (1,234)
Payments on finance lease obligations (542) (288)
Net repayments under inventory financing facility (43,970) (91,366)
Payment of payroll taxes on stock-based compensation through shares withheld (6,128) (2,884)
Repurchases of common stock   (7,679)
Net cash used in financing activities (132,640) (153,232)
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances (986) 1,937
Decrease in cash, cash equivalents and restricted cash (17,827) (5,594)
Cash, cash equivalents and restricted cash at beginning of period 144,293 107,445
Cash, cash equivalents and restricted cash at end of period $ 126,466 $ 101,851