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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 32,153 $ 37,025 $ 19,658
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation 3,755 13,971 7,756
Depreciation and amortization 14,953 15,784 17,161
Assets write-down 1,110 1,143 0
Inventory write-off and obsolescence 2,933 1,719 (142)
Changes in value of life insurance policies (2,821) (4,963) 5,069
Deferred income taxes 674 (10,811) 433
Gain on insurance recovery on property, plant and equipment (4,398) 0 0
Realization of pension obligation (33) (892) 451
Net provision for credit losses 1,203 179 (6)
Other non-cash items (1,020) 406 (405)
Changes in assets and liabilities:      
Accounts receivable (3,612) (2,618) (10,078)
Inventories 9,367 (12,976) (14,860)
Prepaid expenses and other current assets (5,674) 1,952 (76)
Other assets (289) 1,509 (1,369)
Accounts payable 519 (12,878) 15,374
Accrued expenses 2,531 (375) (1,302)
Unearned revenues 4,577 (1,187) (1,823)
Other liabilities 460 (2,199) (10,885)
Net cash provided by operating activities 56,388 24,789 24,956
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (13,028) (10,579) (10,216)
Patents and other intangibles 20 67 (29)
Proceeds from sale of assets 1,736 485 1,889
Proceeds from sale of business, net of cash sold 0 0 240
Proceeds from insurance recovery 2,102 0 583
Net proceeds on life insurance policies 2,776 3,375 3,677
Net cash used in investing activities (6,394) (6,652) (3,856)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of long-term debt (82,000) (211,000) (131,000)
Proceeds from long-term debt 44,000 202,000 116,000
Debt issuance costs (19) (1,253) (2,206)
Equity related transaction costs (756) (4,068) (411)
Dividends paid (1,876) (1,868) (1,853)
Repurchase of common stock (5,306) (2,202) (3,903)
Other financing activities 0 (54) (2)
Net cash used in financing activities (45,957) (18,445) (23,375)
NET CHANGE IN CASH AND CASH EQUIVALENTS 4,037 (308) (2,275)
CASH AND CASH EQUIVALENTS, beginning of year 15,120 15,428 17,703
CASH AND CASH EQUIVALENTS, end of year 19,157 15,120 15,428
Supplemental disclosures of cash flow information:      
Cash payments for interest 10,859 11,198 9,300
Cash payments for income taxes 17,583 14,535 14,078
Non-cash investing and financing activities:      
Capital expenditures incurred but not paid for as of the end of the year 1,670 963 1,157
Equity related transaction costs incurred but not paid for as of the end of the year $ 0 $ 756 $ 0