XML 15 R5.htm IDEA: XBRL DOCUMENT v3.22.2
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating activities:    
Net earnings $ 8,566 $ 7,517
Adjustments to reconcile net losses earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 10,101 9,854
Gains on sales of property (938) (265)
Provision for doubtful accounts (8) (2)
Stock-based compensation expense 458 417
Deferred income taxes (332) (1,636)
Net change in fair value contracts (630) (25)
Changes in assets and liabilities:    
Accounts receivable (129,837) (26,109)
Accounts receivable/payable, affiliates 0 (4)
Inventories (42,339) (10,376)
Income tax receivable 6,424 7,442
Prepayments and other current assets 382 842
Accounts payable 121,144 63,831
Accrued liabilities 2,614 1,235
Other 217 (614)
Net cash (used in) provided by operating activities (24,178) 52,107
Investing activities:    
Property and equipment additions (4,783) (3,602)
Proceeds from property sales 1,374 1,316
Net cash used in investing activities (3,409) (2,286)
Financing activities:    
Borrowings under Credit Agreement 30,000 8,000
Repayments under Credit Agreement (30,000) 0
Principal repayments of finance lease obligations (2,306) (2,123)
Payment for financed portion of VEX acquisition 0 (10,000)
Net proceeds from sale of equity 283 0
Dividends paid on common stock (2,126) (2,062)
Net cash used in financing activities (4,149) (6,185)
(Decrease) Increase in cash and cash equivalents, including restricted cash (31,736) 43,636
Cash and cash equivalents, including restricted cash, at beginning of period 107,317 52,065
Cash and cash equivalents, including restricted cash, at end of period $ 75,581 $ 95,701