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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:  
Net earnings$ 33,090$ 19,716
Adjustments to reconcile net earnings to net cash used in operating activities:  
Depreciation and amortization10,42910,030
Increase (decrease) to allowance for doubtful accounts(8)778
Increase to inventory reserves2,3754,801
Amortization of deferred gain on sale of building(786)(786)
Gain on disposal of property, plant and equipment(31)(1,615)
Equity income from joint ventures(327)(116)
Employee stock ownership plan allocation1,8851,225
Stock-based compensation1,5411,256
Decrease in deferred income taxes12,4575,585
Decrease in unrecognized tax benefit(454)(1,084)
Loss on discontinued operations, net of tax1,7142,309
Change in assets and liabilities:  
Increase in accounts receivable(30,583)(47,166)
Decrease (increase) in inventories8,615(35,769)
Decrease in prepaid expenses and other current assets349481
Increase in accounts payable8,50720,683
Increase in sundry payables and accrued expenses21,37426,932
Net changes in other assets and liabilities(12,859)(2,324)
Net cash provided by operating activities57,2884,936
CASH FLOWS FROM INVESTING ACTIVITIES:  
Proceeds from the sale of property, plant and equipment3511
Net cash received from the sale of land and buildings02,559
Divestiture of joint ventures1,2731,000
European distribution business1,3170
Capital expenditures(6,682)(9,112)
Acquisitions of businesses and assets(26,984)(2,024)
Net cash used in investing activities(31,041)(7,566)
CASH FLOWS FROM FINANCING ACTIVITIES:  
Net (repayments of) borrowings under line-of-credit agreements(11,097)3,228
Principal payments of long-term debt and capital lease obligations(12,381)(5,399)
Increase in overdraft balances9,44110,625
Purchase of treasury stock(3,285)0
Proceeds from exercise of employee stock options2040
Excess tax benefits related to the exercise of employee stock grants1540
Adjustment to costs related to issuance of common stock036
Payments of debt issuance cost(400)(56)
Dividends paid(4,788)(3,376)
Net cash (used in) provided by financing activities(22,152)5,058
Effect of exchange rate changes on cash(1,332)361
Net increase in cash and cash equivalents2,7632,789
CASH AND CASH EQUIVALENTS at beginning of period12,13510,618
CASH AND CASH EQUIVALENTS at end of period14,89813,407
Cash paid during the year for:  
Interest2,3403,919
Income taxes$ 10,354$ 1,529