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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES    
Net earnings $ 21,527,578 $ 1,020,878
Adjustments to reconcile net earnings to cash provided by (used in) operating activities:    
Depreciation 994,209 730,254
Deferred taxes (335,299) (335,388)
Compensation expense for restricted stock 375,935 376,363
Change in postretirement benefits 6,559 8,900
Lower of cost or net realizable value inventory adjustment 0 274,093
Gain recognized on open derivatives not designated for hedge accounting (1,238,320) 0
Deferred realized gain (loss) on derivatives - designated for hedge accounting (3,393,260) 696,400
Forgiveness of Paycheck Protection Program Loan (1,706,614) 0
Decrease (increase) in operating assets:    
Accounts receivable (5,865,531) (428,031)
Inventories (48,538,400) 5,263,830
Federal income taxes recoverable 0 448,665
Other current assets (667,196) (793,679)
Increase (decrease) in operating liabilities:    
Accounts payable and accrued expenses 17,415,657 (2,834,970)
Income taxes payable (206,842) 88,541
Contribution to retirement plan 150,000 149,750
Employee compensation and related expenses (1,455,785) 172,018
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (22,937,309) 4,837,624
INVESTING ACTIVITIES    
Purchase of property, plant and equipment (7,350,081) (4,228,193)
Proceeds from sale of assets 160,542 0
Increase in cash surrender value of officers’ life insurance (8,686) (12,970)
NET CASH USED IN INVESTING ACTIVITIES (7,198,225) (4,241,163)
FINANCING ACTIVITIES    
Paycheck Protection Program loan proceeds 0 1,690,385
Cash dividends paid (414,092) (424,780)
Cash paid for principal portion of finance lease (76,831) (75,364)
Cash paid for share repurchases (102,075) (1,143,356)
Asset based lending facility proceeds 15,187,824 0
NET CASH PROVIDED BY FINANCING ACTIVITIES 14,594,826 46,885
INCREASE (DECREASE) IN CASH AND RESTRICTED CASH (15,540,708) 643,346
CASH AND RESTRICTED CASH AT BEGINNING OF PERIOD 20,192,486 17,057,751
CASH AND RESTRICTED CASH AT END OF PERIOD $ 4,651,778 $ 17,701,097