CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
3 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
| Cash flows from operating activities: |
|
|
| Net loss |
$ (42,121)
|
$ (58,918)
|
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: |
|
|
| Depreciation, amortization and accretion |
12,268
|
13,021
|
| Provision for doubtful accounts, net |
3,015
|
549
|
| Deferred tax benefit |
(2,932)
|
(2,132)
|
| Stock-based compensation |
2,704
|
2,070
|
| Excess tax benefit from stock compensation |
25
|
59
|
| Loss on sale of assets |
126
|
244
|
| Impairment of long-lived assets |
131
|
0
|
| Restructuring costs |
1,518
|
1,732
|
| Changes in operating assets and liabilities: |
|
|
| Trade accounts receivable, net |
46,733
|
56,655
|
| Inventories, net |
(142,797)
|
(169,253)
|
| Prepaid expenses and other current assets |
10,112
|
4,681
|
| Income tax receivable |
(8,218)
|
(5,584)
|
| Other assets |
(118)
|
(556)
|
| Trade accounts payable |
132,108
|
112,130
|
| Accrued expenses |
(13,238)
|
6,050
|
| Income taxes payable |
(7,228)
|
(584)
|
| Long-term liabilities |
564
|
(3,498)
|
| Net cash used in operating activities |
(7,348)
|
(43,334)
|
| Cash flows from investing activities: |
|
|
| Purchases of property and equipment, net |
(3,835)
|
(20,114)
|
| Net cash used in investing activities |
(3,835)
|
(20,114)
|
| Cash flows from financing activities: |
|
|
| Proceeds from short-term borrowings |
0
|
110,000
|
| Repayments of short-term borrowings |
0
|
(66,633)
|
| Cash paid for shares withheld for taxes |
(893)
|
(1,106)
|
| Contingent consideration paid |
0
|
(19,784)
|
| Repayment of mortgage principal |
(133)
|
(125)
|
| Net cash (used in) provided by financing activities |
(1,026)
|
22,352
|
| Effect of foreign currency exchange rates on cash |
385
|
(2,551)
|
| Net change in cash and cash equivalents |
(11,824)
|
(43,647)
|
| Cash and cash equivalents at beginning of period |
291,764
|
245,956
|
| Cash and cash equivalents at end of period |
279,940
|
202,309
|
| Cash paid (refunded) during the period for: |
|
|
| Income taxes, net of refunds ($886 and $15,220 as of June 30, 2017 and 2016, respectively) |
2,266
|
(11,500)
|
| Proceeds from Income Tax Refunds |
886
|
15,220
|
| Interest |
580
|
913
|
| Non-cash investing and financing activities: |
|
|
| Accrued for purchases of property and equipment |
1,557
|
957
|
| Accrued for asset retirement obligations |
113
|
345
|
| Accrued for shares withheld for taxes |
$ 0
|
$ 321
|