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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 8,700 $ 3,982
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 4,262 4,432
Noncash amortization of debt financing costs 76 113
Pension cash reversion 2,942 0
Shared-based compensation expense 1,771 1,117
Deferred income taxes (467) 532
Non-cash loss (income) on derivative contracts (658) 599
Change in other operating items:    
Accounts receivable (18,429) (36,212)
Inventories 3,594 (17,502)
Prepaid expenses (2,694) (2,599)
Accounts payable (4,340) 27,998
Other operating activities, net 5,301 (3,858)
Net cash (used in) provided by operating activities 58 (21,398)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (3,321) (3,590)
Net cash used in investing activities (3,321) (3,590)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of term loan facility (2,188) (1,875)
Borrowing under revolving credit facility 11,000 55,200
Repayment of revolving credit facility 0 (24,400)
Surrender of common stock by employees (764) (464)
Other financing activities 4,329 (55)
Net cash provided by financing activities 12,377 28,406
EFFECT OF CURRENCY EXCHANGE RATE CHANGES ON CASH 545 (168)
NET INCREASE IN CASH 9,659 3,250
CASH:    
Beginning of period 31,825 34,958
End of period $ 41,484 $ 38,208