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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities    
Net income available to common stockholders $ 38,711 $ 39,351
(Loss) Income from discontinued operations 1,842 4,992
Income from continuing operations 36,869 34,359
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 16,014 9,942
Stock compensation expense 4,935 4,171
Gain on sale of business 0 (1,881)
Exit activity costs, non-cash 1,193 346
Benefit of deferred income taxes (36) (195)
Other, net 349 429
Changes in operating assets and liabilities, excluding the effects of acquisitions:    
Accounts receivable (29,150) (26,289)
Inventories (42,686) 3,289
Other current assets and other assets (611) 1,893
Accounts payable 35,174 (989)
Accrued expenses and other non-current liabilities (9,274) (36,042)
Net cash provided by (used in) operating activities of continuing operations 12,777 (10,967)
Net cash (used in) provided by operating activities of discontinued operations (2,002) 3,712
Net cash provided by (used in) operating activities 10,775 (7,255)
Cash Flows from Investing Activities    
Purchases of property, plant, and equipment (9,474) (4,178)
Acquisitions, net of cash acquired (2) (54,385)
Net proceeds from sale of business 39,991 704
Net proceeds from sale of property and equipment 0 59
Net cash provided by (used in) investing activities of continuing operations 30,515 (57,800)
Net cash used in investing activities of discontinued operations (176) (1,053)
Net cash provided by (used in) investing activities 30,339 (58,853)
Cash Flows from Financing Activities    
Proceeds from long-term debt 31,200 0
Long-term debt payments (83,636) 0
Purchase of treasury stock at market prices (4,780) (4,462)
Net proceeds from issuance of common stock 924 78
Net cash used in financing activities (56,292) (4,384)
Effect of exchange rate changes on cash 87 (12)
Net decrease in cash and cash equivalents (15,091) (70,504)
Cash and cash equivalents at beginning of year 32,054 191,363
Cash and cash equivalents at end of period $ 16,963 $ 120,859