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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net earnings $ 19,197 $ 8,603 $ 15,908
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 23,009 20,367 12,382
Stock-based compensation 2,815 2,717 1,879
Amortization of deferred financing costs 1,432 699 0
Deferred income taxes (356) (2,691) (877)
Other, net (1,419) (3,651) 407
Changes in operating assets and liabilities:      
Accounts receivable 12,187 1,382 (8,025)
Inventories 12,951 9,121 (6,538)
Other current assets 846 693 1,702
Other assets 2,161 (450) (62)
Accounts payable (10,022) (3,890) 1,485
Accrued expenses (3,154) (10,170) (7,670)
Other liabilities (295) 423 165
Income taxes payable 6,437 (696) (175)
Net cash provided by operating activities 65,789 22,457 10,581
Cash flows from investing activities:      
Purchase of property, plant and equipment (9,891) (9,042) (6,940)
Purchase of intangible asset 0 0 (1,336)
Purchase of marketable securities 0 (2,936) 0
Purchase of company-owned life insurance (2,820) (2,820) (2,820)
Cash transferred from (to) restricted cash 0 0 12,993
Payments for acquisitions, net of cash acquired 0 (208,693) (30,994)
Proceeds from cash surrender of COLI policies 0 5,756 0
Proceeds from sale of marketable securities 2,820 0 2,820
Proceeds from disposal/sale of property, plant and equipment 77 65 96
Net cash used in investing activities (9,814) (217,670) (26,181)
Cash flows from financing activities:      
Dividends paid to common shareholders (3,238) (3,160) (3,111)
Deferred financing costs (15) (5,756) 0
Borrowings under revolving credit line 12,500 23,000 12,000
Repayments under revolving credit line (35,500) (12,000) 0
(Reduction) increase in notes payable (123) (161) 506
Proceeds from long-term debt 0 215,000 0
Repayments of long-term debt (22,438) (5,375) 0
Purchase and retirement of Class B common stock 0 0 (3,356)
Net cash (used in) provided by financing activities (48,814) 211,548 6,039
Effect of exchange rate changes on cash 741 (1,320) 422
Net increase (decrease) in cash and cash equivalents 7,902 15,015 (9,139)
Cash and cash equivalents - beginning of year 77,138 62,123 71,262
Cash and cash equivalents - end of year 85,040 77,138 62,123
Cash paid (received) during the year for:      
Income taxes, net of refunds received 580 4,686 (474)
Interest payments 6,153 3,210 156
Details of acquisition (see Note 2):      
Fair value of identifiable net assets acquired 0 130,747 34,541
Goodwill 0 105,402 4,812
Fair value of net assets acquired 0 236,149 39,353
Fair value of consideration transferred 0 236,149 39,353
Less: Cash acquired in acquisition 0 (27,456) (8,359)
Cash paid for acquisition, net of cash acquired $ 0 $ 208,693 $ 30,994