Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Net Cash From (For) Operating Activities:    
Net income $ 26,731 $ 2,596
Adjustments to reconcile net income to net cash from (for) operating activities:    
Depreciation and amortization 5,908 6,140
Share-based compensation 3,705 1,666
Loss on sale or abandonment of property and equipment 1,477 2,299
Provision for bad debt expense 1,986 2,507
Loss from inventory obsolescence 667 792
Deferred income taxes, net (3) 1,202
Changes in certain assets and liabilities:    
Receivables, net (21,436) (19,415)
Inventories, net 15,819 7,293
Prepaids and other current assets (3,266) (412)
Accounts payable (39,237) (21,771)
Long-term portion of insurance reserves (1,360) 1,882
Accrued liabilities 15,002 6,311
Other, net 153 (47)
Net cash from (for) operating activities 6,146 (8,957)
Cash Flows From (For) Investing Activities:    
Purchases of property and equipment (6,023) (7,111)
Proceeds from sale of property and equipment 219 440
Other, net 147 460
Net cash for investing activities (5,657) (6,211)
Cash Flows From (For) Financing Activities:    
Net transfer from Former Parent   77,186
Cash distribution paid to Former Parent   (200,000)
Proceeds from issuance of long-term debt   200,000
Repayment of long-term debt (5,000)  
Payment of debt issuance costs   (1,715)
Taxes withheld and paid on employees' equity awards (1,285)  
Repurchase of shares of common stock (4,962)  
Net cash (for) from financing activities (11,247) 75,471
CASH AND CASH EQUIVALENTS    
(Decrease) increase for the period (10,758) 60,303
Cash and cash equivalents at beginning of year 112,848 2,965
Cash and cash equivalents at end of period 102,090 $ 63,268
Supplemental disclosure of noncash investing activities:    
Accruals for property and equipment $ 521