XML 18 R5.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net earnings $ 20,699,000 $ 25,654,000 $ 46,958,000
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Provision for depreciation 2,765,000 2,764,000 2,784,000
Intangibles amortization 582,000 214,000 221,000
Deferred income tax (benefit) (2,311,000) (1,612,000) (1,718,000)
Provision for doubtful notes and accounts receivable 0 7,665,000 0
Loss on disposal of property, plant and equipment 463,000 493,000 2,000
Loss on impairment 5,295,000 0 0
Proceeds from insurance claim 151,000 823,000 0
Noncash retirement plan expense 803,000 752,000 721,000
Gain on bargain purchase (492,000) 0 0
Other 514,000 100,000 131,000
Changes in operating accounts, net of effects of acquisition:      
Accounts receivable, net (12,903,000) 1,083,000 (12,203,000)
Inventories (5,620,000) (10,139,000) (6,952,000)
Other assets and current assets 147,000 9,737,000 (5,655,000)
Accounts payable and accrued liabilities (676,000) (1,232,000) 15,706,000
Federal and state income taxes receivable/payable (649,000) (1,614,000) 978,000
Net cash provided by operating activities 8,768,000 34,688,000 40,973,000
Cash flows from investing activities:      
Marketable securities purchased (20,024,000) (3,918,000) (48,047,000)
Marketable securities - maturities and sales 29,195,000 38,539,000 57,823,000
Purchase of property, plant and equipment (1,030,000) (2,866,000) (2,621,000)
Proceeds from notes receivable 106,000 543,000 0
Acquisition of businesses, net of cash acquired (24,683,000) 0 0
Proceeds from insurance claim 0 250,000 0
Net cash provided by (used in) investing activities (16,436,000) 32,548,000 7,155,000
Cash flows from financing activities:      
Dividends paid (31,826,000) (44,083,000) (42,172,000)
Proceeds from sale of treasury stock 436,000 571,000 528,000
Other (36,000) 45,000 (27,000)
Net cash used in financing activities (31,426,000) (43,467,000) (41,671,000)
Net increase (decrease) in cash and cash equivalents (39,094,000) 23,769,000 6,457,000
Cash and cash equivalents at beginning of year 109,805,000 86,036,000 79,579,000
Cash and cash equivalents at end of year 70,711,000 109,805,000 86,036,000
Supplemental disclosures of cash flow information:      
Income taxes $ 8,208,000 $ 10,071,000 $ 13,803,000