XML 42 R5.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements Of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net earnings $ 42,220,000 $ 39,940,000 $ 52,959,000
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Provision for depreciation 3,606,000 4,052,000 7,258,000
Intangibles amortization 83,000 2,167,000 2,630,000
Deferred income tax (benefit) (224,000) (121,000) (4,001,000)
Noncash income tax expense 1,370,000    
Net loss (gain) and impairment on divestiture of businesses   2,528,000  
Net loss (gain) and impairment on divestiture of businesses from discontinued operations     (11,413,000)
Net gain on involuntary conversion of machinery and equipment     (2,713,000)
Loss on disposal and impairment of property, plant and equipment 322,000 163,000 248,000
Provision for doubtful accounts 7,000 458,000 70,000
Non-cash retirement plan expense 680,000 698,000 675,000
Gain on legal settlement (2,300,000)    
Other 464,000 229,000 238,000
Changes in operating accounts, net of effects of acquisition:      
Accounts receivable, net 10,915,000 11,546,000 1,848,000
Inventories (34,241,000) 6,821,000 (8,730,000)
Other assets and current assets (2,803,000) 4,067,000 (806,000)
Accounts payable and accrued liabilities (11,561,000) 6,066,000 (11,462,000)
Federal and state income taxes receivable/payable 1,045,000 (2,366,000) (2,523,000)
Net cash provided by operating activities 9,583,000 76,248,000 24,278,000
Cash flows from investing activities:      
Marketable securities purchased (105,409,000) (163,271,000) (192,584,000)
Marketable securities - maturities and sales 161,420,000 173,060,000 132,752,000
Proceeds from divestiture of businesses, net of cash paid   9,410,000 64,033,000
Purchase of property, plant and equipment (3,138,000) (8,686,000) (7,396,000)
Notes issued   (2,300,000)  
Proceeds from note receivable 2,146,000    
Acquisition of business, net of cash acquired (3,733,000)    
Proceeds from legal settlement 2,300,000    
Proceeds from insurance settlement 807,000 2,630,000 2,104,000
Acquisition of intangible assets     (1,000,000)
Sale of property, plant and equipment 767,000 1,000 1,000
Net cash provided by (used in) investing activities 55,160,000 10,844,000 (2,090,000)
Cash flows from financing activities:      
Dividends paid (42,087,000) (41,989,000) (38,405,000)
Proceeds from sale of treasury stock 518,000 528,000 519,000
Other (442,000) (6,000) (114,000)
Net cash used in financing activities (42,011,000) (41,467,000) (38,000,000)
Net increase (decrease) in cash and cash equivalents 22,732,000 45,625,000 (15,812,000)
Cash and cash equivalents at beginning of year 56,847,000 11,222,000 27,034,000
Cash and cash equivalents at end of year 79,579,000 56,847,000 11,222,000
Supplemental disclosures of cash flow information:      
Income taxes $ 10,187,000 $ 14,968,000 $ 32,837,000