XML 19 R8.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 11,960 $ 15,204
Less: Loss from discontinued operations 0 (140)
Income from continuing operations 11,960 15,344
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,877 2,319
Amortization of intangible and other assets 1,711 1,760
Provision for inventory reserves 854 194
Provision for doubtful accounts 312 274
Share-based and other executive compensation 1,328 1,213
Net pension benefit 40 (97)
Net deferred taxes 422 (95)
Changes in operating assets and liabilities:    
Accounts receivable 3,315 (4,799)
Inventories (6,458) (2,159)
Prepaid expenses and other current assets 471 4,627
Other assets (149) 37
Accounts payable and other current liabilities (1,515) (8,936)
Retirement benefits payable and other liabilities (22) (17)
Net cash provided by operating activities, continuing operations 14,146 9,665
Net cash used in operating activities, discontinued operations 0 (255)
Net cash provided by operating activities 14,146 9,410
Cash flows from investing activities:    
Capital expenditures (1,837) (2,226)
Cash paid for acquisitions   (11,500)
Net cash used in investing activities, continuing operations (1,837) (13,726)
Net cash provided by investing activities, discontinued operations 0 0
Net cash used in investing activities (1,837) (13,726)
Cash flows from financing activities:    
Borrowings on line of credit 10,000 7,500
Repayments of line of credit and term loan (10,140) (17,140)
Purchase of treasury shares (9,346) (793)
Dividends (1,985) (2,028)
Net cash used in financing activities (11,471) (12,461)
Effect of exchange rate changes on cash and equivalents 511 354
Net change in cash and cash equivalents 1,349 (16,423)
Cash and cash equivalents, beginning of period 18,338 26,651
Cash and cash equivalents, end of period $ 19,687 $ 10,228