XML 18 R6.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities    
Net income available to common stockholders $ 12,762 $ 12,059
Income from discontinued operations 2,266 2,157
Income from continuing operations 10,496 9,902
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 7,974 4,780
Stock compensation expense 2,368 1,665
Exit activity costs, non-cash 1,193 0
Benefit of deferred income taxes 0 (178)
Other, net (162) 386
Changes in operating assets and liabilities, excluding the effects of acquisitions:    
Accounts receivable (2,522) (7,180)
Inventories (15,262) (7,242)
Other current assets and other assets (435) 6,218
Accounts payable 1,470 (18,909)
Accrued expenses and other non-current liabilities (6,334) (33,268)
Net cash used in operating activities of continuing operations (1,214) (43,826)
Net cash (used in) provided by operating activities of discontinued operations (2,011) 814
Net cash used in operating activities (3,225) (43,012)
Cash Flows from Investing Activities    
Purchases of property, plant, and equipment (4,389) (2,144)
Acquisitions, net of cash acquired (2) (54,539)
Net proceeds from sale of business 26,991 0
Net proceeds from sale of property and equipment 0 52
Net cash provided by (used in) investing activities of continuing operations 22,600 (56,631)
Net cash used in investing activities of discontinued operations (176) (678)
Net cash provided by (used in) investing activities 22,424 (57,309)
Cash Flows from Financing Activities    
Proceeds from long-term debt 20,000 0
Long-term debt payments (46,636) 0
Purchase of treasury stock at market prices (4,662) (4,184)
Net proceeds from issuance of common stock 910 24
Net cash used in financing activities (30,388) (4,160)
Effect of exchange rate changes on cash (134) (916)
Net decrease in cash and cash equivalents (11,323) (105,397)
Cash and cash equivalents at beginning of year 32,054 191,363
Cash and cash equivalents at end of period $ 20,731 $ 85,966