XML 26 R9.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES:      
Net income $ 45,429 $ 37,045 $ 28,223
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, depletion and amortization 22,199 20,898 19,611
Impairment of long-lived assets     1,550
Amortization of deferred financing costs 2 6 5
Deferred income taxes 2,527 1,524 4,313
(Gain) loss on disposition of property, plant and equipment (312) 10 462
Stock-based compensation 2,636 2,236 1,915
Changes in operating assets and liabilities:      
Trade receivables, net (6,438) (3,736) 1,109
Inventories, net (4,294) 94 (1,390)
Prepaid expenses and other current assets (191) (999) (106)
Other assets 8 (41) 3
Accounts payable and accrued expenses 2,701 (1,101) 2,579
Other liabilities 96 (247) 301
Net cash provided by operating activities 64,363 55,689 58,575
INVESTING ACTIVITIES:      
Purchase of property, plant and equipment (26,815) (29,914) (17,133)
Acquisition of a business, net of cash acquired (5,630)   (8,392)
Proceeds from sale of property, plant and equipment 1,294 285 331
Net cash used in investing activities (31,151) (29,629) (25,194)
FINANCING ACTIVITIES:      
Cash dividends paid (4,536) (3,620) (3,603)
Proceeds from exercise of stock options 120 84 81
Purchase of treasury shares (767) (731) (557)
Net cash used in financing activities (5,183) (4,267) (4,079)
Net increase in cash and cash equivalents 28,029 21,793 29,302
Cash and cash equivalents at beginning of period 105,355 83,562 54,260
Cash and cash equivalents at end of period $ 133,384 $ 105,355 $ 83,562