Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash Flows from Operating Activities      
Net Income $ 66,974 $ 56,170 $ 27,266
Adjustments to Reconcile Net Income to Cash Provided By Operating Activities, Excluding the Effects of Acquisitions:      
Depreciation and Amortization 25,309 27,254 11,059
Provision for Non-Cash Losses on Inventory and Receivables 3,187 1,959 216
Stock Compensation Expense 2,274 1,730 1,384
Deferred Tax Benefit (252) (4,677) (722)
Non-cash Adjustment to Contingent Consideration (1,751) (4,971) (39)
Other (294) 268 (578)
Cash Flows from Changes in Operating Assets and Liabilities, net of the Effects from Acquisitions of Businesses:      
Accounts Receivable (729) (18,850) 3,493
Inventories (2,537) 25,732 (5,222)
Prepaid Expenses and Other Current Assets (799) (2,806) 380
Accounts Payable (2,168) (8,005) 5,831
Accrued Expenses 3,738 6,826 3,559
Income Taxes Payable (9,266) (4,084) 2,271
Customer Advanced Payments and Deferred Revenue (7,485) 22,055 (547)
Supplemental Retirement Plan and Other Liabilities 2,300 1,273 1,198
Cash Provided By Operating Activities 78,501 99,874 49,549
Cash Flows from Investing Activities      
Acquisition of Business, Net of Cash Acquired (52,276) (68,201) (159,761)
Capital Expenditures (18,641) (40,882) (6,868)
Other (2,669) (37) (81)
Cash Used For Investing Activities (73,586) (109,120) (166,710)
Cash Flows from Financing Activities      
Proceeds From Long-term Debt 55,000 245,894 190,000
Principal Payments on Long-term Debt (67,694) (275,544) (19,498)
Payments on Note Payable 0 0 (7,000)
Debt Acquisition Costs 0 (573) (2,288)
Proceeds from Exercise of Stock Options 2,996 1,848 1,922
Excess Tax Benefit from Exercise of Stock Options 2,973 5,262 1,198
Cash (Used For) Provided By Financing Activities (6,725) (23,113) 164,334
Effect of Exchange Rates on Cash (826) (1,079) 82
(Decrease) Increase in Cash and Cash Equivalents (2,636) (33,438) 47,255
Cash and Cash Equivalents at Beginning of Year 21,197 54,635 7,380
Cash and Cash Equivalents at End of Year 18,561 21,197 54,635
Supplemental Cash Flow Information:      
Interest Paid 4,734 7,816 3,543
Income Taxes Paid, Net of Refunds 32,990 26,619 8,025
Value of Shares Issued as Consideration for Acquisition $ 0 $ 0 $ 13,473