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, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 75,188 $ 109,529
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 31,745 32,942
Stock-based compensation expense 14,698 13,814
Asset Impairment Charges 27,768 5,000
Amortization of debt issuance costs 1,329 1,725
Deferred income taxes (1,420) (9,442)
Bad debt expense 13,664 21,010
Excess tax benefits from stock-based awards (130) (11,855)
Other (52) 847
Changes in current assets and liabilities:    
Accounts receivable 65,796 88,309
Inventories (51,935) (107,897)
Prepaid expenses and other assets (14,347) (14,756)
Accounts payable, accrued expenses and other current liabilities (48,299) (24,294)
Net cash provided by operating activities 114,005 104,932
Cash flows from investing activities:    
Capital expenditures (28,504) (45,289)
Other (627) (1,402)
Net cash used in investing activities (29,131) (46,691)
Cash flows from financing activities:    
Borrowings under term loan 0 500,000
Repayments of term loan (18,750) (228,125)
Borrowings under revolving credit facility 152,000 265,000
Repayments of revolving credit facility (142,000) (65,000)
Repurchase of common stock (16,566) (52,063)
Payments of debt issuance costs 0 (6,624)
Cash dividends paid (54,880) (579,516)
Proceeds from issuance of common stock 1,824 14,755
Tax withholdings related to stock-based awards (3,116) (15,334)
Excess tax benefits from stock-based awards 130 11,855
Net cash used in financing activities (81,358) (155,052)
Net increase in cash and cash equivalents 3,516 (96,811)
Cash and cash equivalents at beginning of period 63,926 159,985
Cash and cash equivalents at end of period $ 67,442 $ 63,174