Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Net Cash Provided by (Used in) Operating Activities:      
Net income $ 72,606 $ 78,971 $ 9,403
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 12,011 12,108 26,079
Share-based compensation 7,669 4,651 3,762
Loss on sale or abandonment of property and equipment 2,737 2,334 364
Amortization of debt issuance costs 343 171  
Provision for bad debt expense 3,292 4,219 3,563
Loss from inventory obsolescence 1,343 1,879 1,302
Non-cash employee benefit policy change   (9,861)  
Deferred income taxes, net 13,540 (16,556) 16,711
Changes in certain assets and liabilities:      
Receivables, net (19,953) (19,591) (19,225)
Inventories, net 1,370 (13,608) (10,287)
Prepaids and other current assets (10,102) (9,054) 100
Accounts payable (11,698) 24,008 44,941
Accrued liabilities 3,633 (3,746) (4,768)
Other, net (6) 86 (84)
Net cash provided by operating activities 76,785 56,011 71,861
Cash Flows Provided by (Used in) Investing Activities:      
Purchases of property and equipment (14,156) (13,644) (13,141)
Acquisition of a business (3,476)    
Proceeds from sale of property and equipment 718 805 999
Other, net 113 632 880
Net cash used in investing activities (16,801) (12,207) (11,262)
Cash Flows Provided by (Used in) Financing Activities:      
Net transfer (to) from Former Parent 664 72,965 (60,655)
Cash distribution paid to Former Parent   (200,000)  
Proceeds from issuance of long-term debt   200,000  
Repayment of long-term debt (15,000) (5,000)  
Payment of debt issuance costs   (1,715)  
Taxes withheld and paid on employees' equity awards (1,825) (171)  
Repurchase of shares of common stock (22,296)    
Net cash (used in) provided by financing activities (38,457) 66,079 (60,655)
CASH AND CASH EQUIVALENTS      
Increase (decrease) for the period 21,527 109,883 (56)
Cash and cash equivalents at beginning of year 112,848 2,965 3,021
Cash and cash equivalents at end of period 134,375 112,848 2,965
Supplemental disclosure of cash paid for:      
Cash interest on long-term debt 4,130 2,233  
Income taxes 39,508 20,992 $ 1,134
Supplemental disclosure of noncash investing activities:      
Accruals for property and equipment $ 387 $ 583