CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2015 |
Sep. 30, 2014 |
| Cash Flows From Operating Activities: |
|
|
| Net income |
$ 51,492
|
$ 90,045
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
36,344
|
29,699
|
| Share-based compensation |
6,447
|
5,935
|
| Loss on the disposition of property, plant and equipment |
1,562
|
97
|
| Amortization of capitalized financing costs |
659
|
657
|
| Excess tax benefits related to share-based compensation |
(402)
|
(1,166)
|
| Asset impairment charges |
34,893
|
|
| Loss on sale of equity investment |
33
|
|
| Deferred income taxes |
(15,285)
|
(9,134)
|
| Changes in operating assets and liabilities (net of acquisitions): |
|
|
| Increase in accounts receivable, net |
(31,288)
|
(104,540)
|
| Decrease in inventory |
54,354
|
51,974
|
| (Increase) decrease in other assets |
(8,720)
|
10,000
|
| Increase in accounts payable |
8,972
|
24,663
|
| Increase (decrease) in checks in-transit |
41,440
|
(2,679)
|
| Increase in accrued liabilities |
6,500
|
2,883
|
| Decrease in other liabilities |
(3,342)
|
(4,768)
|
| Net cash provided by operating activities |
183,659
|
93,666
|
| Cash Flows From Investing Activities: |
|
|
| Capital expenditures |
(18,133)
|
(15,431)
|
| Proceeds from the disposition of property, plant and equipment |
184
|
872
|
| Acquisitions, net of cash acquired |
(40,471)
|
(26,725)
|
| Proceeds from sale of equity investment |
612
|
|
| Net cash used in investing activities |
(57,808)
|
(41,284)
|
| Cash Flows From Financing Activities: |
|
|
| Net repayments under revolving credit facility |
(45,309)
|
(12,094)
|
| Borrowings under Receivables Securitization Program |
|
9,300
|
| Repayment of debt |
|
(135,000)
|
| Proceeds from the issuance of debt |
|
150,000
|
| Net disbursements from share-based compensation arrangements |
(1,507)
|
(3,142)
|
| Acquisition of treasury stock, at cost |
(55,677)
|
(43,037)
|
| Payment of cash dividends |
(15,976)
|
(16,407)
|
| Excess tax benefits related to share-based compensation |
402
|
1,166
|
| Payment of debt issuance costs |
(36)
|
(623)
|
| Net cash used in financing activities |
(118,103)
|
(49,837)
|
| Effect of exchange rate changes on cash and cash equivalents |
(513)
|
(33)
|
| Net change in cash and cash equivalents |
7,235
|
2,512
|
| Cash and cash equivalents, beginning of period |
20,812
|
22,326
|
| Cash and cash equivalents, end of period |
28,047
|
24,838
|
| Other Cash Flow Information: |
|
|
| Income tax payments, net |
53,704
|
55,867
|
| Interest paid |
$ 16,032
|
$ 9,838
|