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
 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 70,249 $ 75,188
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,058 31,745
Stock-based compensation expense 7,633 14,698
Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities 0 27,768
Amortization of debt issuance costs 1,295 1,329
Deferred income taxes 7,188 (1,420)
Bad debt expense 18,343 13,664
Other 23 (52)
Changes in current assets and liabilities:    
Accounts receivable 100,042 65,796
Inventories (47,928) (51,935)
Prepaid expenses and other assets (2,059) (14,347)
Accounts payable, accrued expenses and other current liabilities (78,275) (48,299)
Net cash provided by operating activities 109,569 114,135
Cash flows from investing activities:    
Capital expenditures (36,256) (28,504)
Other (807) (627)
Net cash used in investing activities (37,063) (29,131)
Cash flows from financing activities:    
Repayments of term loan (18,750) (18,750)
Borrowings under revolving credit facility 145,000 152,000
Repayments of revolving credit facility (165,000) (142,000)
Repurchase of common stock 0 (16,566)
Cash dividends paid (55,013) (54,880)
Proceeds from issuance of common stock 1,379 1,824
Payments of tax withholdings related to stock-based awards (2,282) (3,116)
Net cash used in financing activities (94,666) (81,488)
Net (decrease) increase in cash and cash equivalents (22,160) 3,516
Cash and cash equivalents at beginning of period 42,734 63,926
Cash and cash equivalents at end of period $ 20,574 $ 67,442