Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.3.0.814
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 10,321 $ 13,890
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts 21 130
Impairment of Venezuela property, plant and equipment, net   2,947
Depreciation and amortization 3,325 3,510
Share-based compensation expense 3,276 3,034
(Gain) loss on sale of property and equipment (982) 36
Deferred income taxes (137) (3,961)
Amortization of bond discount   3
Purchase of trading investment securities (205) (133)
Proceeds from sale of trading investment securities 212 125
Realized gains on investments (435) (33)
Foreign exchange losses 2,021 2,724
Changes in assets and liabilities:    
Accounts receivable (708) 827
Inventories 56 181
Prepaid expenses and other current assets 373 455
Other assets (3,184) (1,478)
Accounts payable 1,051 (598)
Accrued volume incentives (228) 235
Accrued liabilities (3,975) (3,989)
Deferred revenue (1,085) (52)
Income taxes payable (1,718) (803)
Liability related to unrecognized tax benefits 225 (3,550)
Deferred compensation payable (46) 41
Net cash provided by operating activities 8,178 13,541
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (17,532) (19,973)
Proceeds from sale of property, plant and equipment 1,374 7
Purchase of investments available for sale   (18)
Proceeds from the sale of investments available for sale 810 247
Net cash used in investing activities (15,348) (19,737)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments of cash dividends (5,620) (33,357)
Principal payments of long-term debt and revolving credit facility   (12,267)
Borrowings on long-term debt and revolving credit facility 1,199  
Repurchase of common stock (6,126) (2,731)
Net proceeds from the issuance of shares to noncontrolling interests   46,216
Investment by noncontrolling interests   4,000
Proceeds from the exercise of stock options 3,804 437
Net cash (used in) provided by financing activities (6,743) 2,298
Effect of exchange rates on cash and cash equivalents (904) (2,893)
Net decrease in cash and cash equivalents (14,817) (6,791)
Cash and cash equivalents at beginning of the period 58,699 77,247
Cash and cash equivalents at end of the period 43,882 70,456
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid for income taxes 8,669 5,996
Cash paid for interest $ 98 $ 155