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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 33,498 $ 31,448
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 11,316 9,269
Amortization of deferred financing cost 172 167
Increase to allowance for doubtful accounts 1,230 412
Increase to inventory reserves 767 2,351
Amortization of deferred gain on sale of building (524) (524)
Equity income from joint ventures (1,111) (385)
Employee Stock Ownership Plan allocation 1,080 1,011
Stock-based compensation 4,005 2,736
Excess tax benefits related to exercise of employee stock grants 0 (137)
Decrease in deferred income taxes 749 1,383
Loss on discontinued operations, net of tax 1,130 1,070
Change in assets and liabilities:    
Increase in accounts receivable (53,069) (41,726)
Increase in inventories (27,048) (20,819)
Decrease (increase) in prepaid expenses and other current assets (943) 4,073
Increase in accounts payable 17,475 18,989
Increase in sundry payables and accrued expenses 5,663 13,381
Net changes in other assets and liabilities (1,225) 1,029
Net cash provided by (used in) operating activities (6,835) 23,728
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of and investments in businesses 0 (67,289)
Capital expenditures (8,843) (10,134)
Other investing activities 2 5
Net cash used in investing activities (8,841) (77,418)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net borrowings under line-of-credit agreements 24,134 52,567
Net borrowings (payments) of long-term debt and capital lease obligations (21) 109
Purchase of treasury stock (5,176) (377)
Increase in overdraft balances 1,488 2,472
Excess tax benefits related to the exercise of employee stock grants 0 137
Dividends paid (8,674) (7,705)
Net cash provided by financing activities 11,751 47,203
Effect of exchange rate changes on cash 518 82
Net decrease in cash and cash equivalents (3,407) (6,405)
CASH AND CASH EQUIVALENTS at beginning of period 19,796 18,800
CASH AND CASH EQUIVALENTS at end of period 16,389 12,395
Cash paid during the period for:    
Interest 956 516
Income taxes $ 19,499 $ 13,376