Unaudited 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 |
$ 79,750
|
$ 80,777
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
5,981
|
2,841
|
| Amortization of debt issuance costs |
91
|
91
|
| Stock-based compensation |
2,935
|
1,350
|
| Deferred compensation |
19
|
61
|
| Loss on disposal of assets |
69
|
63
|
| Deferred income taxes |
(1,790)
|
1,795
|
| Income tax benefit from exercise of stock options |
(1,551)
|
0
|
| Effect of changes in operating assets and liabilities: |
|
|
| Receivables |
2,178
|
(8,279)
|
| Inventories |
(8,282)
|
(21,996)
|
| Prepaid expenses and other current assets |
(3)
|
(4,429)
|
| Accounts payable |
4,387
|
19,326
|
| Other liabilities |
10,263
|
2,249
|
| Net cash provided by operating activities |
94,047
|
73,849
|
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(5,374)
|
(28,977)
|
| Restricted cash |
0
|
(350)
|
| Net cash used in investing activities |
(5,374)
|
(29,327)
|
| Cash flows from financing activities: |
|
|
| Principal payments on long-term debt |
(2,970)
|
(2,970)
|
| Proceeds from exercise of stock options |
1,910
|
38
|
| Income tax benefit from exercise of stock options |
1,551
|
0
|
| Net cash provided by (used in) financing activities |
491
|
(2,932)
|
| Net increase in cash and cash equivalents |
89,164
|
41,590
|
| Cash and cash equivalents at beginning of period |
95,788
|
42,874
|
| Cash and cash equivalents at end of period |
$ 184,952
|
$ 84,464
|