Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Net Cash Provided by (Used in) Operating Activities:    
Net income $ 21,749 $ 26,731
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,835 5,908
Share-based compensation 5,101 3,705
Loss on extinguishment of debt 1,086  
Loss on sale or abandonment of property and equipment 285 1,477
Amortization of debt issuance costs 186 171
Provision for bad debt expense 1,750 1,986
Loss from inventory obsolescence 826 667
Deferred income taxes, net   (3)
Changes in certain assets and liabilities:    
Receivables, net (25,123) (21,436)
Inventories, net 5,908 15,819
Prepaid expenses and other current assets 7 (3,266)
Accounts payable (3,124) (39,237)
Accrued liabilities 9,787 13,642
Other, net 398 (18)
Net cash provided by operating activities 25,671 6,146
Cash Flows Provided by (Used in) Investing Activities:    
Purchases of property and equipment (8,571) (6,023)
Acquisition of businesses (83,932)  
Proceeds from sale of property and equipment 126 219
Other, net 147 147
Net cash used in investing activities (92,230) (5,657)
Cash Flows Provided by (Used in) Financing Activities:    
Proceeds from issuance of long-term debt 250,000  
Repayment of long-term debt (180,000) (5,000)
Payment of debt issuance costs (2,150)  
Taxes withheld and paid on employees' equity awards (2,147) (1,285)
Repurchase of shares of common stock (39,286) (4,962)
Net cash provided by (used in) financing activities 26,417 (11,247)
CASH AND CASH EQUIVALENTS    
(Decrease) for the period (40,142) (10,758)
Cash and cash equivalents at beginning of year 134,375 112,848
Cash and cash equivalents at end of period 94,233 102,090
Supplemental disclosure of noncash investing activities:    
Accruals for property and equipment $ 655 $ 521