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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net earnings $ 84,623 $ 79,671 $ 78,573
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 51,281 45,862 44,666
Stock compensation expense 8,303 7,596 6,413
Deferred income taxes (4,627) (3,563) (5,403)
Provision for doubtful accounts 140 1,776 43
Unrealized loss/(gain) on foreign currency transactions and deferred compensation 173 72 (141)
Asset impairment charge 1,915 1,140 1,801
Loss/(Gain) on disposal of assets 153 (3,134) (3,244)
Changes in assets and liabilities, net of acquired balances      
Accounts receivable (3,599) 11,623 (7,773)
Inventories 13,923 (11,401) (6,016)
Prepaid expenses and other current assets (2,856) 477 1,517
Accounts payable and accrued expenses (992) 1,134 5,988
Income taxes 1,859 (5,664) 1,121
Other 198 (1,128) 1,152
Net cash provided by operating activities 150,494 124,461 118,697
Cash flows from investing activities:      
Capital expenditures and intangible assets acquired (33,828) (28,413) (19,723)
Cash paid for acquisitions, net of cash acquired 0 (141,062) (17,399)
Proceeds from sale of business and assets 87 11,523 966
Proceeds from insurance 0 2,727 4,165
Purchase of convertible notes (850) (1,000) 0
Net cash used in investing activities (34,591) (156,225) (31,991)
Cash flows from financing activities:      
Proceeds from revolving loan 10,000 168,569 210,750
Principal payments on revolving loan (95,000) (76,000) (54,750)
Principal payments on finance lease (151) 0 0
Principal payments on long-term debt 0 0 (219,500)
Principal payment on acquired debt 0 (17,567) (19)
Cash paid for financing costs 0 0 (1,374)
Proceeds from stock options exercised 14,155 4,839 8,272
Dividends paid (16,705) (15,135) (13,432)
Purchase of treasury stock (13,463) (21,321) (1,394)
Net cash (used in) provided by financing activities (101,164) 43,385 (71,447)
Effect of exchange rate changes on cash 4,160 (217) (1,407)
Increase in cash and cash equivalents 18,899 11,404 13,852
Cash and cash equivalents beginning of period 65,672 54,268 40,416
Cash and cash equivalents end of period $ 84,571 $ 65,672 $ 54,268