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
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Net Cash Provided by (Used in) Operating Activities:    
Net income $ 53,142 $ 51,299
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,753 8,923
Share-based compensation 7,473 5,743
Loss on extinguishment of debt 1,086  
Loss on sale or abandonment of property and equipment 614 2,399
Amortization of debt issuance costs 293 257
Amortization of contingent consideration 98  
Provision for bad debt expense 2,498 2,696
Loss from inventory obsolescence 1,390 970
Deferred income taxes, net 266 476
Changes in certain assets and liabilities:    
Receivables, net (43,931) (32,294)
Inventories, net 249 12,103
Prepaid expenses and other current assets 8,362 (3,162)
Accounts payable (2,280) (35,023)
Long-term portion of insurance reserves   (1,599)
Accrued liabilities 13,633 15,159
Other, net (28) (13)
Net cash provided by operating activities 54,618 27,934
Cash Flows Provided by (Used in) Investing Activities:    
Purchases of property and equipment (13,088) (10,083)
Acquisition of businesses (84,040) (3,476)
Proceeds from sale of property and equipment 453 379
Other, net 178 93
Net cash used in investing activities (96,497) (13,087)
Cash Flows Provided by (Used in) Financing Activities:    
Net transfer to Former Parent   (153)
Proceeds from issuance of long-term debt 250,000  
Repayment of long-term debt (183,125) (10,000)
Payment of debt issuance costs (2,150)  
Proceeds from revolving credit facility 170,000  
Repayments of revolving credit facility (165,000)  
Taxes withheld and paid on employees' equity awards (4,475) (1,668)
Repurchase of shares of common stock (139,286) (11,377)
Net cash used in financing activities (74,036) (23,198)
CASH AND CASH EQUIVALENTS    
Decrease for the period (115,915) (8,351)
Cash and cash equivalents at beginning of year 134,375 112,848
Cash and cash equivalents at end of period 18,460 104,497
Supplemental disclosure of noncash investing activities:    
Accruals for property and equipment $ 154 $ 110