XML 18 R8.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows From Operating Activities    
Net income $ 26,283 $ 33,779
Adjustments to reconcile net income to net cash provided by (used for) operating activities    
Depreciation 11,524 10,400
Amortization 4,107 5,507
Non-cash stock-based compensation expense 2,601 2,763
Gain on disposal of fixed assets (1,146) (7)
Gain on sale of notes receivable 0 (11,924)
Other (2,096) 2,382
Cash flows provided by (used for) working capital    
Accounts receivable (29,528) (14,266)
Inventories (21,827) (3,939)
Prepaid expenses and other current assets (2,378) (1,728)
Accounts payable and accrued expenses 26,004 8,367
Net cash provided by (used for) operating activities 13,544 31,334
Cash Flows From Investing Activities    
Capital expenditures (14,264) (8,955)
Acquisition of business (35,473) (716)
Proceeds from sale of property, plant and equipment 3,051 0
Proceeds on sale of notes receivable 0 1,200
Net cash provided by (used for) investing activities (46,686) (8,471)
Cash Flows From Financing Activities    
Net borrowings from revolving credit facility 73,400 0
Repayments of long-term debt (40,000) 0
Payments on finance lease (281) 0
Cash dividends paid (14,701) (14,570)
Proceeds from issuance of common stock 3,235 367
Shares withheld for employee taxes on equity awards (853) (416)
Deferred financing fees (1,095) 0
Net cash provided by (used for) financing activities 19,705 (14,619)
Foreign exchange rate effect on cash (35) (25)
Net (decrease) increase in cash (13,472) 8,219
Cash at January 1 28,301 75,527
Cash at September 30 $ 14,829 $ 83,746