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
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 54,021 $ 55,030
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 21,923 21,227
Stock-based compensation expense (a) 3,607 10,460
Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down 0 20,400
Amortization of debt issuance costs 861 885
Deferred income taxes 388 (4,705)
Bad debt expense 12,421 9,355
Other 130 (30)
Changes in current assets and liabilities:    
Accounts receivable 100,609 88,421
Inventories (24,291) (11,576)
Prepaid expenses and other assets (1,002) (20,291)
Accounts payable, accrued expenses and other current liabilities (90,258) (80,997)
Net cash provided by operating activities 78,409 88,179
Cash flows from investing activities:    
Capital expenditures (22,647) (17,688)
Other (794) (1,652)
Net cash used in investing activities (23,441) (19,340)
Cash flows from financing activities:    
Repayments of term loan (12,500) (12,500)
Borrowings under revolving credit facility 125,000 117,000
Repayments of revolving credit facility (140,000) (135,000)
Repurchase of common stock 0 (10,180)
Cash dividends paid (36,664) (36,600)
Proceeds from issuance of common stock 856 1,170
Payments of tax withholdings related to stock-based awards (2,134) (1,899)
Net cash used in financing activities (65,442) (78,009)
Net decrease in cash and cash equivalents (10,474) (9,170)
Cash and cash equivalents at beginning of period 42,734 63,926
Cash and cash equivalents at end of period $ 32,260 $ 54,756