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
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 21,248 $ 28,585
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,886 10,525
Stock-based compensation expense 4,704 5,376
Amortization of debt issuance costs 429 444
Deferred income taxes (1,500) (1,415)
Bad debt expense 6,083 4,588
Other (249) 178
Changes in current assets and liabilities:    
Accounts receivable 92,094 84,109
Inventories (18,557) (13,953)
Prepaid expenses and other assets (4,808) (9,248)
Accounts payable, accrued expenses and other current liabilities (87,991) (76,725)
Net cash provided by operating activities 22,339 32,464
Cash flows from investing activities:    
Capital expenditures (9,859) (5,145)
Other (794) 0
Net cash used in investing activities (10,653) (5,145)
Cash flows from financing activities:    
Repayments of term loan (6,250) (6,250)
Borrowings under revolving credit facility 110,000 45,000
Repayments of revolving credit facility (90,000) (55,000)
Repurchase of common stock 0 (8,671)
Cash dividends paid (18,331) (18,300)
Proceeds from issuance of common stock 423 586
Payments of tax withholdings related to stock-based awards (2,016) (1,825)
Net cash used in financing activities (6,174) (44,460)
Net increase (decrease) in cash and cash equivalents 5,512 (17,141)
Cash and cash equivalents at beginning of period 42,734 63,926
Cash and cash equivalents at end of period $ 48,246 $ 46,785