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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net earnings $ 37,071 $ 31,668
Adjustments to arrive at net cash provided by operating activities:    
Depreciation and amortization 13,056 12,799
Share-based compensation expense 4,163 2,113
Net (gain) loss on assets (48) 161
Loss on divestitures and other charges 0 1,238
Deferred income taxes 4,211 4,257
Changes in operating assets and liabilities:    
Trade accounts receivable (20,841) (27,237)
Inventories (11,901) 27,621
Prepaid expenses and other assets (11,111) (13,239)
Accounts payable and other accrued expenses (10,267) (6,242)
Accrued salaries, wages, and withholdings from employees (12,425) (10,872)
Income taxes 7,063 5,742
Other liabilities 137 955
Net cash (used in) provided by operating activities (892) 28,964
Cash Flows from Investing Activities:    
Acquisition of property, plant, and equipment (12,736) (14,244)
Proceeds from sale of assets 89 69
Proceeds from divesture of businesses 0 4,059
Other investing activities 434 286
Net cash used in investing activities (12,213) (9,830)
Cash flows from financing activities:    
Proceeds from additional borrowings 40,099 21,530
Debt payments (6,275) (8,999)
Purchase of treasury stock 0 (11,665)
Dividends paid (17,211) (16,535)
Other financing activities (1,679) (228)
Net cash provided by (used in) financing activities 14,934 (15,897)
Effect of exchange rate changes on cash and cash equivalents 4,606 (7)
Net increase in cash and cash equivalents 6,435 3,230
Cash and cash equivalents at beginning of period 25,740 24,770
Cash and cash equivalents at end of period $ 32,175 $ 28,000