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, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 55,030 $ 75,321
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 21,227 22,334
Stock-based compensation expense 10,460 9,424
Asset impairment 20,400 0
Amortization of debt issuance costs 885 1,276
Deferred income taxes (4,705) (3,611)
Bad debt expense 9,355 13,338
Excess tax benefits from stock-based awards (78) (8,251)
Other (30) 673
Changes in current assets and liabilities:    
Accounts receivable 88,421 108,998
Inventories (11,576) (50,087)
Prepaid expenses and other assets (20,291) (17,023)
Accounts payable, accrued expenses and other current liabilities (80,997) (80,092)
Net cash provided by operating activities 88,101 72,300
Cash flows from investing activities:    
Capital expenditures (17,688) (26,242)
Other (1,652) 6
Net cash used in investing activities (19,340) (26,236)
Cash flows from financing activities:    
Borrowings under term loan 0 500,000
Repayment of term loan (12,500) (228,125)
Borrowings under revolving credit facility 117,000 225,000
Repayment of revolving credit facility (135,000) (50,000)
Repurchase of common stock (10,180) (18,335)
Payments of debt issuance costs 0 (6,620)
Cash dividends paid (36,600) (561,182)
Proceeds from issuance of common stock 1,170 11,357
Tax withholdings related to stock-based awards (1,899) (12,218)
Excess tax benefits from stock-based awards 78 8,251
Net cash used in financing activities (77,931) (131,872)
Net decrease in cash and cash equivalents (9,170) (85,808)
Cash and cash equivalents at beginning of period 63,926 159,985
Cash and cash equivalents at end of period $ 54,756 $ 74,177