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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 29,788 $ 37,579
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,601 13,139
Provision for doubtful accounts 780 806
Provision for warranties 5,137 4,496
Deferred compensation expense 193 144
Stock-based compensation 2,987 1,739
Deferred income tax provision 13,428 8,412
(Gain) loss on disposition of fixed assets (730) 176
Asset impairment charge 4,146 0
Distributions to SERP participants (434) (1,007)
Change in operating assets and liabilities:    
(Purchase) sale of trading securities, net (9) 50
Trade and other receivables 5,445 (6,719)
Inventories 31,365 (5,240)
Prepaid expenses and other assets 2,681 564
Accounts payable (7,714) (2,006)
Accrued and payroll related expenses (2,869) (2,807)
Accrued product warranty (4,538) (5,287)
Customer deposits (20,053) (13,025)
Prepaid, refundable and income taxes payable, net 10,622 7,669
Other 2,068 4,188
Net cash provided by operating activities 84,894 42,871
Cash flows from investing activities:    
Expenditures for property and equipment (7,407) (8,657)
Proceeds from sale of property and equipment 1,987 136
Other (206) 433
Net cash used by investing activities (5,626) (8,088)
Cash flows from financing activities:    
Payment of dividends (4,970) (4,956)
Borrowings under bank loans 821 121,041
Repayments of bank loans (1,063) (152,055)
Payments to Noncontrolling Interests 0 (16)
Sale of Company shares held by SERP 125 238
Withholding tax paid upon vesting of restricted stock units (564) (160)
Net cash used by financing activities (5,651) (35,908)
Effect of exchange rates on cash (2,677) 209
Net change in cash and cash equivalents 70,940 (916)
Cash and cash equivalents, beginning of period 48,857 25,821
Cash and cash equivalents, end of period $ 119,797 $ 24,905