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Statements of Consolidated Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
OPERATING ACTIVITIES    
Net income $ 7,177 $ 3,653
Adjustments to reconcile net income to net cash provided by (used in) operations:    
Depreciation and amortization 3,145 3,357
Provision for accounts receivable allowances 390 424
Provision for inventory reserves 811 365
Deferred income taxes 4,921 1,163
Share-based compensation expense 1,034 976
Loss on sale of property and equipment (16) 0
Other - net 318 (364)
Changes in operating assets and liabilities    
Accounts receivable (3,114) (5,192)
Inventories (5,154) (3,481)
Prepaid expenses 8,134 (1,409)
Trade accounts payable and accrued liabilities 795 (2,112)
Income taxes - net (4,782) (328)
Other - net (423) (107)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 13,236 (3,055)
INVESTING ACTIVITIES    
Capital expenditures [1] (3,469) (5,997)
Proceeds from the sale of property and equipment [1] 4 0
NET CASH USED IN INVESTING ACTIVITIES [1] (3,465) (5,997)
FINANCING ACTIVITIES    
(Decrease) increase in notes payable to banks [1] (3,811) 3,337
Proceeds from long-term debt [1] 15,242 24,945
Payments of long-term debt [1] (27,106) (17,652)
Dividends paid [1] (1,131) (1,175)
Proceeds from issuance of common shares [1] 0 236
Purchase of common shares for treasury [1] 0 (1,602)
Purchase of common shares for treasury from related parties [1] (3,678) (2,378)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES [1] (20,484) 5,711
Effects of exchange rate changes on cash and cash equivalents 223 (1,805)
Net decrease in cash, cash equivalents and restricted cash (10,490) (5,146)
Cash, cash equivalents and restricted cash at beginning of year 45,175 39,263
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 34,685 $ 34,117
[1] Non-cash investing and financing activities:  The Company purchased a new corporate aircraft during the period ended March 31, 2021 with a term loan in the principal amount of $20.5 million.  For further information regarding this transaction, refer to Note P, “Debt Arrangements.