|
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
6 Months Ended |
|
Jun. 30, 2012
|
Jun. 30, 2011
|
| Cash flows from operating activities: |
|
|
| Net (loss) income |
$ (12,104) |
$ 12,305 |
| Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: |
|
|
| Depreciation, amortization, and accretion |
14,666 |
11,539 |
| Change in fair value of contingent consideration |
6,223 |
|
| Provision for (recovery of) doubtful accounts, net |
479 |
(53) |
| Write-down of inventory |
1,593 |
3,005 |
| Stock compensation |
8,957 |
6,830 |
| Other |
295 |
(437) |
| Changes in operating assets and liabilities: |
|
|
| Trade accounts receivable |
69,714 |
9,763 |
| Inventories |
(94,580) |
(88,054) |
| Prepaid expenses and other current assets |
25,307 |
(5,880) |
| Income tax receivable |
(16,858) |
(16,285) |
| Other assets |
(2,768) |
(3,070) |
| Trade accounts payable |
80,919 |
40,302 |
| Contingent consideration |
(959) |
|
| Accrued expenses |
(25,379) |
(28,959) |
| Income taxes payable |
(25,694) |
(20,902) |
| Long-term liabilities |
757 |
1,517 |
| Net cash provided by (used in) operating activities |
30,568 |
(78,379) |
| Cash flows from investing activities: |
|
|
| Purchases of property and equipment |
(25,951) |
(13,910) |
| Equity method investment |
(2,000) |
|
| Purchases of intangible assets |
|
(4,458) |
| Net cash used in investing activities |
(27,951) |
(18,368) |
| Cash flows from financing activities: |
|
|
| Cash paid for shares withheld for taxes |
(4,725) |
(10,682) |
| Excess tax benefits from stock compensation |
1,795 |
6,641 |
| Cash paid for repurchases of common stock |
(100,000) |
(19,918) |
| Contingent consideration paid |
(29,041) |
|
| Cash paid for noncontrolling interest in consolidated entity |
(20,000) |
|
| Net cash used in financing activities |
(151,971) |
(23,959) |
| Effect of exchange rates on cash |
149 |
650 |
| Net change in cash and cash equivalents |
(149,205) |
(120,056) |
| Cash and cash equivalents at beginning of period |
263,606 |
445,226 |
| Cash and cash equivalents at end of period |
114,401 |
325,170 |
| Cash paid during the period for: |
|
|
| Income taxes |
35,916 |
35,777 |
| Interest |
47 |
12 |
| Non-cash investing activity: |
|
|
| Accruals for purchases of property and equipment |
1,034 |
162 |
| Accruals for asset retirement obligations |
62 |
13 |
| Non-cash financing activity: |
|
|
| Accruals for shares withheld for taxes |
$ 1,014 |
$ 1,934 |