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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 20,363 $ 11,960
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 3,059 1,877
Amortization of intangible and other assets 9,235 1,711
Provision for inventory reserves 247 854
Provision for doubtful accounts 202 312
Share-based and other executive compensation 1,888 1,328
Net gain on disposals of property, plant and equipment 1 0
Net pension benefit 36 40
Net deferred taxes 81 422
Changes in operating assets and liabilities:    
Accounts receivable (16,164) 3,315
Inventories (11,036) (6,458)
Prepaid expenses and other current assets (344) 471
Other assets 270 (149)
Accounts payable and other current liabilities 10,865 (1,515)
Retirement benefits payable and other liabilities 226 (22)
Net cash provided by operating activities 18,929 14,146
Cash flows from investing activities:    
Capital expenditures (1,079) (1,837)
Proceeds from sale of assets 8 0
Proceeds from acquisitions true-up 1,375 0
Net cash provided by (used in) investing activities 304 (1,837)
Cash flows from financing activities:    
Borrowings on line of credit 12,000 10,000
Repayments of line of credit and term loan (23,140) (10,140)
Payments of deferred loan costs (2,328) 0
Purchase of treasury shares (3,168) (9,346)
Proceeds from acquisition of redeemable noncontrolling interest shareholder 5,293 0
Dividends (2,358) (1,985)
Net cash used in financing activities (13,701) (11,471)
Effect of exchange rate changes on cash and equivalents 57 511
Net change in cash and cash equivalents 5,589 1,349
Cash and cash equivalents, beginning of period 10,088 18,338
Cash and cash equivalents, end of period $ 15,677 $ 19,687