XML 17 R8.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities    
Net income $ 33,168 $ 18,380
Adjustments to reconcile net income to net cash provided by (used for) operating activities    
Depreciation and amortization 10,683 10,752
Non-cash stock-based compensation expense 3,860 1,829
Gain on disposal of fixed assets (688) (996)
Other 698 (907)
Cash flows provided by (used for) working capital    
Accounts receivable (21,200) (15,250)
Inventories (7,259) (13,411)
Prepaid expenses and other current assets (5,702) (4,814)
Accounts payable and accrued expenses 20,739 25,718
Net cash provided by (used for) operating activities 34,299 21,301
Cash Flows From Investing Activities    
Capital expenditures (10,943) (8,220)
Acquisition of business, net of cash acquired (24,253) (1,223)
Proceeds from sale of property, plant and equipment 1,499 2,848
Net cash provided by (used for) investing activities (33,697) (6,595)
Cash Flows From Financing Activities    
Net borrowings from revolving credit facility 13,000 19,900
Repayments of long-term debt 0 (40,000)
Payments on finance lease (249) (161)
Cash dividends paid (9,934) (9,809)
Proceeds from issuance of common stock 1,838 2,420
Shares withheld for employee taxes on equity awards (347) (748)
Deferred financing fees 0 (1,095)
Net cash provided by (used for) financing activities 4,308 (29,493)
Foreign exchange rate effect on cash (131) 29
Net increase (decrease) in cash 4,779 (14,758)
Cash at January 1 17,655 28,301
Cash at June 30 $ 22,434 $ 13,543