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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash Flows from Operating Activities    
Net income $ 25,846 $ 25,462
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,537 8,529
Gain on sale of assets (138) 0
Share-based compensation 2,752 2,464
Deferred income taxes, including change in valuation allowance 952 924
Changes in operating assets and liabilities:    
Receivables, net (1,757) (15,644)
Inventory (17,424) (14,197)
Prepaid expenses (326) 297
Refundable income taxes (2,138) (31)
Accounts payable (331) (3,453)
Accrued expenses (3,236) (2,623)
Deferred credits (249) (464)
Accrued retirement health, and life insurance benefits (96) 395
Other 21 0
Net cash provided by operating activities 12,413 1,659
Cash Flows from Investing Activities    
Additions to property, plant, and equipment (10,375) (18,870)
Deferred compensation plan investments (1,189) 0
Net cash used in investing activities (11,564) (18,870)
Cash Flows from Financing Activities    
Payment of dividends and dividend equivalents (5,141) (4,125)
Purchase of treasury stock for tax withholding on equity-based compensation (5,470) (2,215)
Proceeds on long-term debt 20,000 0
Principal payments on long-term debt (288) (279)
Proceeds from credit agreement - revolver 14,140 22,766
Payments on credit agreement - revolver (24,640) (2,020)
Other (78) 0
Net cash provided by (used in) financing activities (1,477) 14,127
Decrease in cash and cash equivalents (628) (3,084)
Cash and cash equivalents, beginning of period 5,025 3,084
Cash and cash equivalents, end of period $ 4,397 $ 0