v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 15,863 $ 18,843
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 15,423 13,644
Costs recognized on sale of acquired inventory 318 1,344
Deferred income taxes (2,184) (1,170)
Stock-based compensation expense 3,795 3,190
Fair value adjustment to contingent consideration payable 7,500 1,900
Other operating activity 277 (1,249)
Change in operating assets and operating liabilities, net of acquisition:    
Trade accounts and other receivables 9,550 (10,176)
Inventories (5,446) (2,414)
Prepaid expenses 48 605
Trade accounts payable and accrued expenses (563) 4,132
Salaries, wages and related accruals (3,635) (6,373)
Income taxes payable 3,750 3,947
Net cash provided by operating activities 44,696 26,223
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions, net of cash acquired (10,634) (253,193)
Proceeds from maturities of available-for-sale investments 3,502
Purchases of available-for-sale investments (6,836)
Additions to property and equipment (5,273) (2,442)
Net cash used in investing activities (12,405) (262,471)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends (11,958) (11,932)
Proceeds from stock option exercises 3,806 2,026
Excess tax benefit from stock option exercises 253
Borrowings under line-of-credit agreement 343,500
Payments on line-of-credit (6,000) (91,513)
Payments of Contingent consideration (35,000)
Other financing (1,802) (171)
Net cash (used in) provided by financing activities (50,954) 242,163
Effect of exchange rate changes on cash and cash equivalents (485) (563)
Net increase (decrease) in cash and cash equivalents (19,148) 5,352
Cash and cash equivalents at beginning of period 91,612 64,237
Cash and cash equivalents at end of period $ 72,464 $ 69,589

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