Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net earnings $ 33,048 $ 7,588
Adjustments to reconcile net earnings to net cash (used in) operating activities:    
Depreciation of property, plant and equipment 11,288 10,415
Amortization of deferred financing costs 300 300
Amortization of intangible assets 234 226
Provision for bad debts and returns 5,103 1,862
Tax benefits from share-based compensation 8 0
Non-cash share-based compensation 1,321 579
Loss (gain) on disposal of property, plant and equipment 128 (1)
Deferred income tax 8,458 1,125
(Increase) decrease in assets:    
Receivables (89,383) (70,553)
Inventories 45,518 84,934
Prepaid expenses and other current assets (1,381) 1,017
Other assets (273) (3,005)
Increase (decrease) in liabilities:    
Accounts payable (43,174) (80,634)
Accrued expenses 2,225 (6,568)
Net cash used in operating activities (26,580) (52,715)
Cash flows from investing activities:    
Capital expenditures (11,369) (7,774)
Net cash used in investing activities (11,369) (7,774)
Cash flows from financing activities:    
Payments on long-term debt (2,972) (2,880)
Proceeds (payments) on short-term borrowings (1) 603
Contributions from non-controlling interest of consolidated entity 0 3,152
Distributions to non-controlling interest of consolidated entity (1,325) (1,175)
Net cash used in financing activities (4,298) (300)
Net decrease in cash and cash equivalents (42,247) (60,789)
Effect of exchange rates on cash and cash equivalents (316) (376)
Cash and cash equivalents at beginning of the period 372,011 325,826
Cash and cash equivalents at end of the period 329,448 264,661
Cash paid during the period for:    
Interest 2,491 2,467
Income taxes $ 2,419 $ 1,588