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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net income $ 30,660 $ 31,297
Less: Loss from discontinued operations 0 (148)
Income from continuing operations 30,660 31,445
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 6,079 6,008
Amortization of intangible and other assets 5,698 5,238
Provision for inventory reserves 1,169 183
Provision for doubtful accounts 227 837
Share-based and other executive compensation 3,945 3,776
Net gain on disposals of property, plant and equipment (42) (844)
Pension plan curtailment benefit 0 6,559
Net pension benefit 121 (156)
Net deferred taxes 456 (369)
Changes in operating assets and liabilities:    
Accounts receivable 14,115 10,143
Inventories (1,581) (5,099)
Prepaid expenses and other current assets (4,494) 3,236
Other assets (340) 20
Accounts payable and other current liabilities (1,787) (265)
Retirement benefits payable and other liabilities (180) (359)
Net cash provided by operating activities, continuing operations 54,046 60,353
Net cash used in operating activities, discontinued operations 0 (442)
Net cash provided by operating activities 54,046 59,911
Cash flows from investing activities:    
Capital expenditures (6,886) (7,595)
Proceeds from sale of assets 604 1,239
Cash paid for acquisitions (278,680) (11,837)
Net cash used in investing activities, continuing operations (284,962) (18,193)
Net cash provided by investing activities, discontinued operations 0 0
Net cash used in investing activities (284,962) (18,193)
Cash flows from financing activities:    
Borrowings on line of credit 255,000 7,500
Repayments of line of credit and term loan (10,421) (27,921)
Payments of deferred loan costs (149) 0
Purchase of treasury shares (10,488) (2,784)
Proceeds from stock option activity 1,331 0
Dividends (5,970) (6,088)
Net cash provided by (used in) financing activities 229,303 (29,293)
Effect of exchange rate changes on cash and equivalents 1,535 808
Net change in cash and cash equivalents (78) 13,233
Cash and cash equivalents, beginning of period 18,338 26,651
Cash and cash equivalents, end of period $ 18,260 $ 39,884