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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 12 Months Ended
Jun. 30, 2020
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2021
OPERATING ACTIVITIES        
Net earnings   $ 14,066,322 $ 11,424,475 $ 11,424,475
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:        
Depreciation, Total   1,320,434 1,012,917  
Deferred taxes   (561,739) 1,338,489 1,338,489
Compensation expense for restricted stock   449,089 527,671  
Change in post-retirement benefits other than pensions   10,982 8,745  
Lower of cost or net realizable value inventory adjustment $ 274,093 0 274,093  
Loss recognized on open derivatives not designated for hedge accounting   1,216,500 0  
Deferred realized gain (loss) on derivatives designated for hedge accounting   1,342,520 (6,843,140)  
Forgiveness of Paycheck Protection Program Loan   (1,706,614) 0  
Changes in operating assets and liabilities:        
Accounts receivable   (15,292,690) (8,672,623)  
Inventories   (31,930,029) (621,943)  
Federal income taxes recoverable   (1,403,485) 448,665  
Other current assets   (123,890) 454,489  
Accounts payable and accrued expenses   22,027,802 5,386,439  
Income taxes payable   (1,455,099) 1,455,099  
Employee compensation and related expenses   (1,557,862) 2,233,760  
Contribution to retirement plan   200,000 (250)  
Net cash provided by (used in) operating activities   (13,397,759) 8,426,886  
INVESTING ACTIVITIES        
Purchase of property, plant and equipment   (8,064,599) (4,609,617)  
Proceeds from sale of assets   160,542 30,957  
Increase in cash value of officers’ life insurance   (13,853) (11,580)  
Net cash used in investing activities   (7,917,910) (4,590,240)  
FINANCING ACTIVITIES        
Paycheck Protection Program loan proceeds   0 1,690,385  
Cash dividends paid   (551,212) (564,190)  
Cash paid for principal portion of finance lease   (102,689) (100,728)  
Cash paid for share repurchases   (537,855) (1,727,378)  
Asset based lending facility proceeds   18,436,457 0  
Net cash provided by (used in) financing activities   17,244,701 (701,911)  
Increase (decrease) in cash and restricted cash   (4,070,968) 3,134,735  
Cash and restricted cash at beginning of year $ 17,057,751 20,192,486 17,057,751  
Cash and restricted cash at end of year   $ 16,121,518 $ 20,192,486 $ 20,192,486