Cash flows from operating activities: | |
Net earnings | 63.59M |
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities: | |
Depreciation and amortization | 30.1M |
Provision for losses on accounts receivable | 1.4M |
Write-downs of inventories | 2.3M |
Write-off of computer software development costs | |
Non-cash stock-based compensation | 8.31M |
Excess tax benefit from employee gains on stock-based compensation | -293K |
Deferred income taxes | 3.42M |
Changes in assets and liabilities: | |
Increase in accounts receivable | 133.29M |
Increase in inventories | -59.71M |
Decrease (increase) in other current assets | -22.71M |
Increase in other assets | |
Increase in accounts payable | -278.1M |
Decrease in deferred revenue | -6.65M |
Decrease in accrued expenses and other liabilities | 244K |
Net cash (used in) provided by operating activities | |
Cash flows from investing activities: | |
Payment of additional purchase price consideration for Calence | -10.8M |
Purchases of property and equipment | -9.71M |
Net cash used in investing activities | |
Cash flows from financing activities: | |
Borrowings on senior revolving credit facility | 534.92M |
Repayments on senior revolving credit facility | -506.42M |
Borrowings on accounts receivable securitization financing facility | |
Repayments on accounts receivable securitization financing facility | |
Payments on capital lease obligation | -270K |
Net repayments under inventory financing facility | |
Proceeds from sales of common stock under employee stock plans | |
Excess tax benefit from employee gains on stock-based compensation | 293K |
Payment of payroll taxes on stock-based compensation through shares withheld | |
Repurchases of common stock | -50M |
Net cash used in financing activities | |
Foreign currency exchange effect on cash flows | |
(Decrease) increase in cash and cash equivalents | -12.28M |
Cash and cash equivalents at beginning of period | 187.98M |
Cash and cash equivalents at end of period | 175.7M |