Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

v3.6.0.2
Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities attributable to continuing operations:      
Net income $ 118,708 $ 169,239 $ 172,984
Adjustments to reconcile income from continuing operations to net cash provided by operating activities attributable to continuing operations:      
Depreciation and amortization 42,712 43,418 43,934
Stock-based compensation expense 19,233 18,408 15,606
Loss on sale of businesses and asset impairments 27,768 6,660 0
Amortization of debt issuance costs 1,770 1,700 1,107
Deferred income taxes 13,851 (10,710) (2,045)
Bad debt expense 22,768 34,012 23,986
Excess tax benefits from stock-based awards (324) (13,011) (8,397)
Other 11 231 48
Changes in current assets and liabilities:      
Accounts receivable (51,727) (22,804) (76,654)
Inventories 7,630 (29,319) (71,386)
Prepaid expenses and other assets (2,696) (3,101) 2,243
Accounts payable, accrued expenses and other current liabilities 36,814 8,805 37,285
Net cash provided by operating activities 236,518 203,528 138,711
Cash flows from investing activities attributable to continuing operations:      
Capital expenditures (41,742) (60,692) (47,316)
Other (619) (1,428) (320)
Net cash used in investing activities attributable to continuing operations (42,361) (62,120) (47,636)
Cash flows from financing activities attributable to continuing operations:      
Borrowing under term loan 0 500,000 0
Repayments of long-term debt (25,000) (228,125) (12,500)
Borrowings under revolving credit facility 162,000 280,000 0
Repayments of revolving credit facility (262,000) (140,000) 0
Payments of debt issuance costs 0 (6,624) 0
Repurchase of common stock (16,567) (58,510) (55,467)
Cash dividends paid (73,151) (597,864) (57,824)
Proceeds from issuance of common stock 2,369 17,387 2,599
Tax withholdings related to stock-based awards (3,324) (16,742) (12,707)
Excess tax benefits from stock-based awards 324 13,011 8,397
Net cash used in financing activities attributable to continuing operations (215,349) (237,467) (127,502)
Total cash used in continuing operations (21,192) (96,059) (36,427)
Cash flows from discontinued operations:      
Total cash used in discontinued operations 0 0 (21)
Net decrease in cash and cash equivalents (21,192) (96,059) (36,448)
Cash and cash equivalents at beginning of period 63,926 159,985 196,433
Cash and cash equivalents at end of period $ 42,734 $ 63,926 $ 159,985