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, 2018
Jun. 30, 2017
Net Cash Provided by (Used in) Operating Activities:    
Net income $ 53,540 $ 21,749
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,185 6,835
Share-based compensation 5,397 5,101
Loss on extinguishment of debt   1,086
Loss on sale or abandonment of property and equipment 487 285
Amortization of debt issuance costs 422 186
Change in fair value of contingent consideration 123  
Provision for bad debt expense 1,672 1,750
Loss from inventory obsolescence 928 826
Deferred income taxes, net 375  
Changes in certain assets and liabilities:    
Receivables, net (22,382) (25,123)
Inventories, net (11,517) 5,908
Prepaid expenses and other current assets (5,363) 7
Accounts payable 220 (3,124)
Accrued liabilities 2,901 9,787
Other, net (595) 398
Net cash provided by operating activities 41,393 25,671
Cash Flows Provided by (Used in) Investing Activities:    
Purchases of property and equipment (27,521) (8,571)
Acquisition of businesses, net of cash acquired of $15,756 in 2018 (499,050) (83,932)
Proceeds from sale of property and equipment 427 126
Other, net 23 147
Net cash used in investing activities (526,121) (92,230)
Cash Flows Provided by (Used in) Financing Activities:    
Proceeds from issuance of Senior Notes 400,000  
Proceeds from issuance of term loan 100,000 250,000
Repayments of term loan (7,500) (180,000)
Proceeds from equipment notes 15,066  
Repayments of equipment notes (533)  
Proceeds from revolving credit facility 90,000  
Repayments of revolving credit facility (90,000)  
Payment of debt issuance costs (7,717) (2,150)
Taxes withheld and paid on employees' equity awards (4,531) (2,147)
Repurchase of shares of common stock   (39,286)
Payment of contingent consideration (841)  
Net cash provided by financing activities 493,944 26,417
CASH AND CASH EQUIVALENTS    
Increase (decrease) for the period 9,216 (40,142)
Cash and cash equivalents at beginning of year 56,521 134,375
Cash and cash equivalents at end of period 65,737 94,233
Supplemental disclosure of noncash investing activities:    
Accruals for property and equipment $ 864 $ 655