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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Income from continuing operations $ 59,784 $ 49,056
Income (loss) from discontinued operations, net of tax 8,230 (674)
Net income 68,014 48,382
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation 14,341 12,392
Depreciation and amortization 11,373 11,686
Changes to value of life insurance policies (2,219) (1,426)
Deferred income taxes (35,116) 397
Gain on sale of business (1,154)  
Gain on sale of discontinued operations (8,808)  
Other non-cash items 292 494
Changes in assets and liabilities, net of effect of acquisitions:    
Accounts receivable (6,321) (5,425)
Inventories (2,915) (7,113)
Prepaid expenses and other current assets 3,484 (4,067)
Other assets (2,284) 457
Accounts payable 947 3,440
Accrued expenses 11,647 (5,830)
Unearned revenues (4,824) 203
Other long-term liabilities (4,221) (3,507)
Net cash provided by operating activities 42,236 50,083
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (12,230) (11,915)
Patents and other intangibles 105 (878)
Proceeds from sale of assets 440 199
Proceeds from sale of business 2,980  
Proceeds from sale of discontinued operations 16,642  
Premiums on life insurance (883) (720)
Net cash provided by (used in) investing activities 7,054 (13,314)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of debt borrowings (68,000) (57,000)
Proceeds from debt borrowings 68,000 73,000
Debt financing costs   (1,553)
Dividends paid (48,769) (48,635)
Repurchase of common shares (1,091) (3,960)
Net cash used in financing activities (49,860) (38,148)
NET CHANGE IN CASH AND CASH EQUIVALENTS (570) (1,379)
CASH AND CASH EQUIVALENTS, beginning of period 13,116 14,400
CASH AND CASH EQUIVALENTS, end of period 12,546 13,021
Supplemental disclosures of cash flow information:    
Cash payments for interest 6,786 5,572
Cash payments for income taxes $ 7,269 $ 11,344