Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Net Cash From (For) Operating Activities:      
Net income (loss) $ 78,971 $ 9,403 $ (12,738)
Adjustments to reconcile net income to net cash from (for) operating activities:      
Depreciation and amortization 12,108 26,079 27,488
Share-based compensation 4,651 3,762 3,903
Loss on sale of property and equipment 2,334 364 591
Provision for bad debt expense 4,219 3,563 3,379
Loss from inventory obsolescence 1,879 1,302 743
Non-cash employee benefit policy change (9,861)    
Deferred income taxes, net (16,556) 16,711 21,609
Changes in certain assets and liabilities:      
Receivables, net (19,591) (19,225) (25,620)
Inventories, net (13,608) (10,287) (13,376)
Prepaids and other current assets (9,054) 100 (1,186)
Accounts payable 24,008 44,941 27,676
Accrued liabilities (3,746) (4,768) (7,733)
Other, net 257 (84) (64)
Net cash from operating activities 56,011 71,861 24,672
Cash Flows From (For) Investing Activities:      
Purchases of property and equipment (13,644) (13,141) (14,008)
Proceeds from sale of property and equipment 805 999 281
Other, net 632 880 (541)
Net cash for investing activities (12,207) (11,262) (14,268)
Cash Flows From (For) Financing Activities:      
Net transfer from (to) Former Parent 72,965 (60,655) (18,124)
Cash distribution paid to Former Parent (200,000)    
Proceeds from issuance of long-term debt 200,000    
Repayments of long-term debt (5,000)    
Payment of debt issuance costs (1,715)    
Other, net (171)    
Net cash from (for) financing activities 66,079 (60,655) (18,124)
CASH AND CASH EQUIVALENTS:      
Increase (decrease) for the period 109,883 (56) (7,720)
Cash and cash equivalents at beginning of period 2,965 3,021 10,741
Cash and cash equivalents at end of period 112,848 2,965 3,021
Supplemental disclosure of cash paid for:      
Cash interest on long-term debt 2,233    
Income taxes 20,992 $ 1,134 $ 717
Supplemental disclosure of noncash investing activities:      
Accruals for property and equipment $ 583