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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net earnings $ 15,518 $ 11,886
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 11,335 11,016
Stock compensation expense 1,840 2,197
Deferred income taxes (4) 0
Provision for doubtful accounts 79 49
Foreign currency transaction loss 101 50
(Gain)/Loss on disposal of assets (75) 89
Changes in assets and liabilities    
Accounts receivable 4,128 (1,049)
Inventories (5,574) 1,257
Prepaid expenses and other current assets (4) 386
Accounts payable and accrued expenses (9,066) 7,065
Income taxes 5,248 (3,443)
Other (724) (180)
Net cash provided by operating activities 22,802 29,323
Cash flows from investing activities:    
Cash paid for acquisition, net of cash acquired (1,169) (110,601)
Capital expenditures (2,934) (10,660)
Intangible assets acquired (147) (153)
Net cash used in investing activities (4,250) (121,414)
Cash flows from financing activities:    
Proceeds from revolving loan 2,000 65,000
Principal payments on revolving loan (5,000) 0
Principal payments on long-term debt (8,750) (8,750)
Principal payment on acquired debt 0 (884)
Proceeds from stock options exercised 3,969 1,345
Excess tax benefits from stock compensation 0 483
Dividends paid (12,069) (10,727)
Purchase of treasury stock (611) (615)
Net cash (used in) provided by financing activities (20,461) 45,852
Effect of exchange rate changes on cash 263 616
Decrease in cash and cash equivalents (1,646) (45,623)
Cash and cash equivalents beginning of period 38,643 84,795
Cash and cash equivalents end of period $ 36,997 $ 39,172