| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||||
Net earnings | ||||||||||
100,526 | 126,224 | 62,535 | 100,041 | 94,672 | 76,636 | 79,024 | 66,433 | 50,752 | 45,651 | 33,556 |
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities | ||||||||||
Depreciation and amortization | ||||||||||
14,743 | 16,843 | 16,110 | 13,482 | 9,978 | 8,810 | 9,044 | 8,826 | 8,474 | 7,916 | 7,069 |
Right-of-use asset amortization | ||||||||||
8,264 | - | - | - | - | - | - | - | - | - | - |
(Gain) loss on sale of property and equipment | ||||||||||
-84 | -1,805 | -18 | -116 | -3 | -46 | 16 | 36 | -45 | -94 | 149 |
Equity-based compensation expense | ||||||||||
15,541 | 14,955 | 15,482 | 16,542 | 11,081 | 9,805 | 7,624 | 10,210 | 10,549 | 10,406 | 8,925 |
Excess tax benefits from equity-based payment arrangements | ||||||||||
- | - | - | - | 12,024 | 14,834 | 7,466 | 3,443 | 48 | 2,449 | 11 |
Common stock awarded to Associates | ||||||||||
- | - | - | - | - | - | - | 80 | - | - | - |
Deferred income taxes | ||||||||||
-3,635 | 699 | 19,306 | -3,700 | -2,572 | -1,039 | 814 | 4,111 | -1,599 | 3,194 | -2,296 |
(Gain) loss on impairment on note receivable | ||||||||||
- | -658 | 2,734 | - | - | - | - | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||||
Inventories | ||||||||||
-12,990 | 23,101 | -6,054 | 1,034 | 23,071 | -1,102 | 11,783 | -1,370 | 3,209 | 4,982 | 299 |
Prepaid expenses and other assets | ||||||||||
-7,189 | 1,626 | -5,010 | 9,749 | 2,047 | 3,789 | 8,465 | 6,341 | -4,024 | 5,218 | -1,685 |
Income tax payable related to tax benefit from equity award activity | ||||||||||
- | - | - | - | 12,024 | 14,712 | 7,075 | 1,827 | - | - | - |
Accounts payable | ||||||||||
1,835 | -1,720 | 3,043 | -1,341 | 2,481 | -1,337 | 2,790 | -985 | 1,502 | -1,981 | -1,138 |
Other liabilities | ||||||||||
-30,804 | 18,698 | -6,518 | 22,534 | 20,941 | 15,073 | 20,252 | 10,753 | -382 | 13,477 | -14,873 |
Total adjustments | ||||||||||
- | - | - | - | - | - | - | - | - | 20,457 | -1,087 |
Net cash provided by (used in) operating activities | ||||||||||
126,733 | 152,119 | 123,774 | 136,891 | 111,466 | 105,185 | 98,893 | 92,805 | 70,108 | 66,108 | 32,469 |
Cash flows from investing activities | ||||||||||
Additions to notes receivable | ||||||||||
- | - | - | 7 | 1,580 | 4,495 | 4,942 | - | - | - | 151 |
Receipts on notes receivable | ||||||||||
231 | 4,849 | 296 | 811 | - | - | - | - | - | - | 245 |
Proceeds from the settlement of net investment hedges | ||||||||||
1,936 | 739 | - | - | - | - | - | - | - | - | - |
Payments for net investment hedge | ||||||||||
1,660 | - | - | - | - | - | - | - | - | - | - |
Purchases of investment securities held-to-maturity | ||||||||||
- | 86,396 | - | - | - | 3,871 | 8,643 | - | - | - | - |
Maturities of investment securities held-to-maturity | ||||||||||
63,539 | 22,857 | - | - | - | 12,511 | - | - | - | - | - |
Acquisitions, net of cash acquired | ||||||||||
- | - | - | - | - | - | - | - | - | 42,694 | - |
Proceeds from sale of property and equipment | ||||||||||
17 | 381 | 22 | 11 | 185 | 10 | 47 | 154 | 34 | 33 | 837 |
Purchases of property and equipment | ||||||||||
16,569 | 11,433 | 13,220 | 32,698 | 23,729 | 20,421 | 8,051 | 8,432 | 10,643 | 4,192 | 4,128 |
Net cash provided by (used in) investing activities | ||||||||||
47,494 | -69,003 | -12,902 | -31,883 | -25,124 | -16,266 | -21,589 | -8,278 | -10,609 | -46,853 | -3,197 |
Cash flows from financing activities | ||||||||||
Proceeds from equity awards exercised | ||||||||||
- | - | - | - | - | 10,970 | 454 | 309 | 39 | 12,005 | 131 |
Excess tax benefits from equity-based payment arrangements | ||||||||||
- | - | - | - | 12,024 | 14,834 | 7,466 | 3,443 | 48 | 2,449 | 11 |
Repurchase of common stock | ||||||||||
150,000 | 105,375 | 50,000 | 64,610 | 61,181 | 138,819 | 18,085 | 68,294 | 33,459 | 17,031 | 1,654 |
Proceeds from disgorgement of short-swing stock profits | ||||||||||
- | 907 | - | - | - | - | - | - | - | - | - |
Borrowings on line of credit | ||||||||||
5,000 | - | 3,500 | 73,700 | - | 30,000 | - | 1,846 | - | 31,150 | 57,020 |
Payments on line of credit | ||||||||||
5,000 | - | 3,500 | 73,700 | - | 30,000 | - | 1,846 | - | 38,150 | 85,010 |
Payments related to tax withholding for net-share settled equity awards | ||||||||||
1,987 | 809 | 316 | - | - | - | - | - | - | - | - |
Payments for debt issuance costs | ||||||||||
65 | - | - | 250 | - | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | ||||||||||
-152,052 | -105,277 | -50,316 | -64,860 | -49,157 | -113,015 | -10,165 | -64,542 | -33,372 | -9,577 | -29,502 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||
-1,721 | -11,140 | 11,027 | -7,929 | -5,101 | -2,121 | -635 | 501 | 4 | 886 | 607 |
Net increase (decrease) in cash, cash equivalents and restricted cash | ||||||||||
20,454 | -33,301 | 71,583 | 32,219 | 32,084 | -26,217 | 66,504 | 20,486 | 26,131 | 10,564 | 377 |
Cash paid during the period for: | ||||||||||
Interest | ||||||||||
11 | 6 | 16 | 323 | 15 | 136 | 1 | 20 | 10 | 99 | 552 |
Income taxes | ||||||||||
54,914 | 70,683 | 46,006 | 52,579 | 35,782 | 26,955 | 26,952 | 27,131 | 24,539 | 21,628 | 22,817 |
Cash received during the period for: | ||||||||||
Income tax refund | ||||||||||
5,542 | 2,698 | 4,700 | - | - | - | - | - | - | - | - |
Non-cash investing and financing activities: | ||||||||||
Right-of-use assets obtained in exchange for lease obligations | ||||||||||
33,258 | - | - | - | - | - | - | - | - | - | - |
Credits on notes receivable | ||||||||||
- | - | 86 | 1,288 | 966 | 720 | 198 | - | - | - | - |
Accrued purchases of property and equipment | ||||||||||
998 | 195 | 109 | 2,216 | 6,863 | 1,805 | - | - | - | - | - |
Common stock issued in connection with acquisitions | ||||||||||
- | - | - | - | - | - | - | - | - | 17,716 | - |