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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 28,163 $ 10,792
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 9,574 9,199
Non-cash lease expense 3,068 1,962
Share-based compensation 4,190 4,352
Deferred income taxes 90 (82)
Loss on disposals of plant and equipment 212 106
Foreign exchange (income)/expense 57 (962)
Changes in assets and liabilities, net of acquisitions:    
Receivables (24,196) (2,574)
Inventory (14,327) (19,952)
Accounts payable and accrued expenses (298) (4,223)
Operating leases (3,068) (1,962)
Income taxes 3,220 786
Employee benefit plans 118 (35)
Other, net (1,421) (2,063)
Net cash flows from operating activities 5,382 (4,656)
Cash flows from investing activities:    
Additions to property, plant, and equipment (6,744) (5,535)
Proceeds from sale of property, plant, and equipment 0 25
Cash paid for acquisitions, net of cash acquired 70 (5,626)
Other, net 3 0
Net cash flows from investing activities (6,671) (11,136)
Cash flows from financing activities:    
Proceeds from issuance of debt 693 56,680
Repayment of debt (1,150) (37,010)
Proceeds from issuance of common stock 5,083 871
Purchases of common stock (4,849) (16,981)
Dividends paid (8,143) (7,240)
Net cash flows from financing activities (8,366) (3,680)
Effect of exchange rate changes on cash (2,801) (4,946)
Net change in cash and equivalents (12,456) (24,418)
Cash and equivalents at beginning of period 130,787 64,405
Cash and equivalents at end of period 118,331 39,987
Cash paid for income taxes, net of refunds 2,295 3,126
Cash paid for interest 2,013 2,254
Non-cash items:    
Additions to property, plant, and equipment, not yet paid 811 314
Right-of-Use Assets obtained in exchange for new operating lease liabilities 4,615 1,888
Payable to sellers of acquired entities $ 0 $ 650