XML 21 R6.htm IDEA: XBRL DOCUMENT v3.21.1
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 $ 15,427 $ 9,842
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,311 3,125
Loss on sale of assets 0 (9)
Share-based compensation 3,229 1,139
Deferred income taxes, including change in valuation allowance (648) 101
Changes in operating assets and liabilities:    
Receivables, net (4,348) (11,453)
Inventory 4,924 (5,649)
Prepaid expenses (1,084) (2,339)
Income taxes payable 5,237 3,100
Accounts payable 509 1,635
Accrued expenses and other (8,385) 1,003
Deferred credits (802) (81)
Other, net (380) 128
Net cash provided by operating activities 16,990 542
Cash Flows from Investing Activities    
Additions to property, plant, and equipment (12,059) (5,645)
Acquisition of business 0 (2,750)
Proceeds from sale of property 0 366
Other, net (1,281) (160)
Net cash used in investing activities (13,340) (8,189)
Cash Flows from Financing Activities    
Payment of dividends and dividend equivalents (2,052) (2,060)
Purchase of treasury stock (674) (4,395)
Loan fees paid related to borrowings 0 (1,148)
Principal payments on long-term debt 0 (100)
Proceeds from credit agreement - revolver 0 54,700
Net cash (used in) provided by financing activities (2,726) 46,997
Increase in cash and cash equivalents 924 39,350
Cash and cash equivalents, beginning of period 21,662 3,309
Cash and cash equivalents, end of period $ 22,586 $ 42,659