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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities      
Net income $ 234,461 $ 191,339 $ 148,603
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 26,122 24,157 20,338
Amortization 1,793 1,568 1,639
Share-based compensation 12,874 12,482 9,902
Excess tax benefits from share-based compensation 0 0 (7,370)
Provision for doubtful accounts receivable, net of write-offs 2,286 (154) (155)
Provision for inventory obsolescence, net of write-offs 1,462 (267) (448)
Provision for deferred income taxes 4,661 (4,636) 3,749
(Gains) losses on sale of property and equipment (289) (285) (320)
Equity earnings in unconsolidated investments, net (242) (139) (156)
Net (gains) losses on foreign currency transactions 560 (171) 679
Impairment of goodwill and other non-operating assets 0 1,200 4,113
Other 808 166 923
Changes in operating assets and liabilities, net of effects of acquisitions:      
Receivables (14,371) (21,903) (5,666)
Product inventories (142,170) (35,783) (8,050)
Prepaid expenses and other assets 1,018 (4,096) (3,077)
Accounts payable (6,567) 5,077 (17,896)
Accrued expenses and other current liabilities (3,750) 6,756 18,570
Net cash provided by operating activities 118,656 175,311 165,378
Investing activities      
Acquisition of businesses, net of cash acquired (2,578) (12,834) (19,730)
Purchases of property and equipment, net of sale proceeds (31,580) (39,390) (34,352)
Payments to fund credit agreement 0 0 (5,322)
Collections from credit agreement 0 0 3,737
Other investments, net 0 4 24
Net cash used in investing activities (34,158) (52,220) (55,643)
Financing activities      
Proceeds from revolving line of credit 1,138,195 1,067,868 1,154,090
Payments on revolving line of credit (998,503) (1,011,977) (1,072,557)
Proceeds from asset-backed financing 198,400 161,600 155,000
Payments on asset-backed financing (189,900) (145,100) (126,500)
Proceeds from short-term borrowings and current portion of long-term debt 17,127 27,333 18,442
Payments on short-term borrowings and current portion of long-term debt (18,793) (17,603) (19,037)
Payments on deferred and contingent acquisition consideration (661) (324) 0
Purchase of redeemable non-controlling interest 0 (2,573) 0
Payments of deferred financing costs (106) (1,104) (69)
Excess tax benefits from share-based compensation 0 0 7,370
Proceeds from stock issued under share-based compensation plans 13,569 11,466 11,752
Payments of cash dividends (69,430) (58,029) (49,749)
Purchases of treasury stock (187,469) (146,006) (178,414)
Net cash used in financing activities (97,571) (114,449) (99,672)
Effect of exchange rate changes on cash and cash equivalents (509) (658) (1,344)
Change in cash and cash equivalents (13,582) 7,984 8,719
Cash and cash equivalents at beginning of year 29,940 21,956 13,237
Cash and cash equivalents at end of year $ 16,358 $ 29,940 $ 21,956