Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v2.4.1.9
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Cash flows from operating activities:    
Net earnings $ 61,658us-gaap_ProfitLoss $ 33,048us-gaap_ProfitLoss
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation of property, plant and equipment 13,298us-gaap_Depreciation 11,288us-gaap_Depreciation
Amortization of deferred financing costs 300us-gaap_AmortizationOfFinancingCosts 300us-gaap_AmortizationOfFinancingCosts
Amortization of intangible assets 9us-gaap_AmortizationOfIntangibleAssets 234us-gaap_AmortizationOfIntangibleAssets
Provision for bad debts, returns and allowances 4,057us-gaap_ProvisionForDoubtfulAccounts 5,103us-gaap_ProvisionForDoubtfulAccounts
Tax benefit from share-based compensation   8us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Non-cash share-based compensation 4,400us-gaap_ShareBasedCompensation 1,321us-gaap_ShareBasedCompensation
Loss on disposal of property, plant and equipment 14us-gaap_GainLossOnDispositionOfAssets 128us-gaap_GainLossOnDispositionOfAssets
Deferred income taxes 209us-gaap_DeferredIncomeTaxExpenseBenefit 8,458us-gaap_DeferredIncomeTaxExpenseBenefit
(Increase) decrease in assets:    
Receivables (175,488)us-gaap_IncreaseDecreaseInReceivables (89,383)us-gaap_IncreaseDecreaseInReceivables
Inventories 59,228us-gaap_IncreaseDecreaseInInventories 45,518us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other current assets 4,959us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (1,381)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Other assets (6,050)us-gaap_IncreaseDecreaseInOtherOperatingAssets (273)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Increase (decrease) in liabilities:    
Accounts payable (30,276)us-gaap_IncreaseDecreaseInAccountsPayable (43,174)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued expenses 15,258us-gaap_IncreaseDecreaseInAccruedLiabilities 2,225us-gaap_IncreaseDecreaseInAccruedLiabilities
Net cash used in operating activities (48,424)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations (26,580)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities:    
Capital expenditures (14,623)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (11,369)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Purchases of investments (801)us-gaap_PaymentsToAcquireInvestments  
Sales of investments 104us-gaap_ProceedsFromSaleMaturityAndCollectionsOfInvestments  
Net cash used in investing activities (15,320)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (11,369)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities:    
Payments on long-term debt (3,066)us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities (2,972)us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities
Payments on short-term borrowings (1,753)us-gaap_RepaymentsOfShortTermDebt (1)us-gaap_RepaymentsOfShortTermDebt
Excess tax benefits from share-based compensation 2,138us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities  
Distributions to noncontrolling interests (1,150)us-gaap_PaymentsToMinorityShareholders (1,325)us-gaap_PaymentsToMinorityShareholders
Net cash used in financing activities (3,831)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (4,298)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net decrease in cash and cash equivalents (67,575)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect (42,247)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
Effect of exchange rates on cash and cash equivalents (2,400)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (316)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Cash and cash equivalents at beginning of the period 466,685us-gaap_CashAndCashEquivalentsAtCarryingValue 372,011us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of the period 396,710us-gaap_CashAndCashEquivalentsAtCarryingValue 329,448us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid during the period for:    
Interest 2,387us-gaap_InterestPaid 2,491us-gaap_InterestPaid
Income taxes $ 13,459us-gaap_IncomeTaxesPaidNet $ 2,419us-gaap_IncomeTaxesPaidNet