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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Net earnings $ 96,104 $ 84,623 $ 79,671
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 48,879 51,281 45,862
Stock compensation expense 10,802 8,303 7,596
Deferred income taxes (5,944) (4,627) (3,563)
Provision for doubtful accounts 180 140 1,776
Unrealized (gain)/loss on foreign currency transactions and deferred compensation (384) 173 72
Asset impairment charge 1,675 1,915 1,140
(Gain)/loss on disposal of assets (1,728) 153 (3,134)
Changes in assets and liabilities, net of acquired balances      
Accounts receivable (20,700) (3,599) 11,623
Inventories (21,023) 13,923 (11,401)
Prepaid expenses and other current assets (881) (2,856) 477
Accounts payable and accrued expenses 47,067 (992) 1,134
Income taxes 4,787 1,859 (5,664)
Other 1,680 198 (1,128)
Net cash provided by operating activities 160,514 150,494 124,461
Cash flows from investing activities:      
Capital expenditures and intangible assets acquired (37,449) (33,828) (28,413)
Cash paid for acquisitions, net of cash acquired 0 0 (141,062)
Proceeds from sale of business and assets 318 87 11,523
Proceeds from insurance 1,831 0 2,727
Purchase of convertible notes 0 (850) (1,000)
Net cash used in investing activities (35,300) (34,591) (156,225)
Cash flows from financing activities:      
Proceeds from revolving loan 5,000 10,000 168,569
Principal payments on revolving loan (60,000) (95,000) (76,000)
Principal payments on finance lease (159) (151) 0
Principal payment on acquired debt 0 0 (17,567)
Proceeds from stock options exercised 6,943 14,155 4,839
Dividends paid (18,723) (16,705) (15,135)
Repurchases of common stock (35,239) (13,463) (21,321)
Net cash (used in) provided by financing activities (102,178) (101,164) 43,385
Effect of exchange rate changes on cash (4,368) 4,160 (217)
Increase in cash and cash equivalents 18,668 18,899 11,404
Cash and cash equivalents beginning of period 84,571 65,672 54,268
Cash and cash equivalents end of period $ 103,239 $ 84,571 $ 65,672