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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 20,882 $ 19,959
Adjustments to reconcile net earnings to net cash provided by operating activities -    
Depreciation 3,292 3,712
Amortization 194 318
Bad debt expense 122 311
Deferred income taxes (869) 643
Net foreign currency transaction (gains) losses (13) 459
Share-based compensation expense 1,452 1,513
Pension contribution 0 (3,000)
Pension expense 1,047 696
Impairment of long-lived assets 259 356
Loss on disposal of fixed assets 330 0
Increase in cash surrender value of life insurance (564) (528)
Changes in operating assets and liabilities -    
Accounts receivable (138) (2,409)
Inventories (14,042) (12,387)
Prepaid expenses and other assets (623) 531
Accounts payable (315) 3,898
Accrued liabilities and other (817) (2,617)
Accrued income taxes (810) 2,427
Excess tax benefits from share-based compensation 0 (830)
Net cash provided by operating activities 9,387 13,052
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of marketable securities (14,641) (7,949)
Proceeds from maturities of marketable securities 13,250 11,338
Life insurance premiums paid (155) (155)
Purchases of property, plant and equipment (7,392) (1,410)
Net cash (used for) provided by investing activities (8,938) 1,824
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (9,408) (9,213)
Cash dividends paid to noncontrolling interest of subsidiary 0 (88)
Payment to acquire noncontrolling interest of subsidiary 0 (3,740)
Shares purchased and retired (5,649) (11,414)
Net proceeds from stock options exercised 161 4,403
Taxes paid related to the net share settlement of equity awards (5) (699)
Proceeds from bank borrowings 151,358 60,340
Repayments of bank borrowings (150,149) (54,500)
Net cash used for financing activities (13,692) (14,911)
Effect of exchange rate changes on cash and cash equivalents 69 (445)
Net decrease in cash and cash equivalents (13,174) (480)
CASH AND CASH EQUIVALENTS at beginning of year 22,973 23,453
CASH AND CASH EQUIVALENTS at end of year 9,799 22,973
SUPPLEMENTAL CASH FLOW INFORMATION:    
Income taxes paid, net of refunds 7,604 3,669
Interest paid $ 244 $ 45