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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net earnings $ 51,007 $ 126,100
Adjustments to reconcile net earnings to net cash provided by operations:    
Depreciation and amortization 36,523 32,375
Deferred income tax expense 7,061 16,650
Gain on the sale of assets (1,861) (31,938)
Provision for restructuring and impairment 284 182
Gain on debt forgiveness (500) 0
Loss from equity investment 7,775 11,453
401(k) match stock contribution 1,107 1,479
Changes in operating assets and liabilities (net of acquisitions):    
Accounts and contracts receivable (26,976) 24,280
Inventories (67,187) 68,487
Other current assets (1,109) 4,083
Accounts payable, accrued expenses, and other liabilities 19,509 (65,936)
Income taxes 4,519 (4,035)
Net cash provided by operating activities 30,152 183,180
Cash flows from investing activities:    
Additions to property, plant, and equipment (53,367) (71,431)
Proceeds from the sale of assets 8,180 73,688
Net cash (used in) provided by investing activities (45,187) 2,257
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 398,550 478,059
Payments of long-term debt (383,011) (597,055)
Payments on financing leases (7,868) (6,321)
Change in other assets (2,758) (6,604)
Purchase of treasury stock (38,788) (4,358)
Preferred stock dividends paid (23) (23)
Net cash used in financing activities (33,898) (136,302)
Net (decrease) increase in cash and cash equivalents (48,933) 49,135
Cash and cash equivalents, beginning of year 59,837 10,702
Cash and cash equivalents, end of year 10,904 59,837
Supplemental disclosures of cash flow information:    
Interest 4,481 5,094
Income taxes paid 2,971 22,692
Property, plant and equipment issued under finance and operating leases 18,734 3,749
Property, plant and equipment purchased on account $ 1,267 $ 19