XML 21 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities      
Net income $ 33,538 $ 36,769 $ 24,333
Income from discontinued operations, net of income taxes 0 0 118
Income from continuing operations 33,538 36,769 24,215
Adjustments to reconcile income from continuing operations to net cash provided by (used for) operating activities      
Depreciation and amortization 20,885 20,930 23,583
Non-cash stock-based compensation expense 3,196 3,534 1,715
(Gain) loss on disposal of fixed assets (1,382) 3 0
Gain on sale of notes receivable 0 (11,924) 0
Deferred taxes 2,826 8,732 (922)
Impairment charges 0 0 916
Other (1,403) 4,225 4,161
Payments on long-term performance based compensation 0 0 (413)
Cash flows provided by (used for) working capital      
Accounts receivable (15,273) (11,589) 12,479
Inventories (24,885) (7,868) 2,222
Prepaid expenses and other current assets (676) (969) (243)
Accounts payable and accrued expenses 28,088 4,664 (20,687)
Net cash provided by (used for) operating activities - continuing operations 44,914 46,507 47,026
Net cash provided by (used for) operating activities - discontinued operations 0 0 7,297
Net cash provided by (used for) operating activities 44,914 46,507 54,323
Cash Flows From Investing Activities      
Capital expenditures (17,867) (13,421) (10,294)
Acquisition of business (35,758) (63,334) (18,000)
Proceeds from sale of property, plant and equipment 3,336 2 7,537
Proceeds on sale of notes receivable 0 1,200 0
Net cash provided by (used for) investing activities - continuing operations (50,289) (75,553) (20,757)
Net cash provided by (used for) investing activities - discontinued operations 0 0 0
Net cash provided by (used for) investing activities (50,289) (75,553) (20,757)
Cash Flows From Financing Activities      
Net borrowings from revolving credit facility 53,000 0 0
Repayments of long-term debt (40,000) 0 0
Payments on finance lease (402) 0 0
Cash dividends paid (19,596) (19,425) (19,316)
Proceeds from issuance of common stock 3,793 1,732 3,336
Shares withheld for employee taxes on equity awards (888) (623) (1,008)
Deferred financing fees (1,095) 0 0
Net cash provided by (used for) financing activities - continuing operations (5,188) (18,316) (16,988)
Net cash provided by (used for) financing activities - discontinued operations 0 0 0
Net cash provided by (used for) financing activities (5,188) (18,316) (16,988)
Foreign exchange rate effect on cash (83) 136 55
Net (decrease) increase in cash (10,646) (47,226) 16,633
Cash at January 1 28,301 75,527 58,894
Cash at December 31 17,655 28,301 75,527
Supplemental Disclosures of Cash Flow Information      
Interest 4,279 4,505 4,657
Income taxes $ 10,936 $ 5,355 $ 11,437