XML 63 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net earnings $ 43,029us-gaap_NetIncomeLoss $ 51,450us-gaap_NetIncomeLoss $ 41,353us-gaap_NetIncomeLoss
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 17,295us-gaap_DepreciationDepletionAndAmortization 17,595us-gaap_DepreciationDepletionAndAmortization 16,466us-gaap_DepreciationDepletionAndAmortization
Amortization of deferred financing cost 699us-gaap_AmortizationOfFinancingCosts 893us-gaap_AmortizationOfFinancingCosts 1,161us-gaap_AmortizationOfFinancingCosts
Increase (decrease) to allowance for doubtful accounts (497)us-gaap_ProvisionForDoubtfulAccounts 641us-gaap_ProvisionForDoubtfulAccounts (728)us-gaap_ProvisionForDoubtfulAccounts
Increase to inventory reserves 3,553us-gaap_InventoryWriteDown 4,636us-gaap_InventoryWriteDown 4,921us-gaap_InventoryWriteDown
Amortization of deferred gain on sale of buildings (1,048)us-gaap_GainLossOnSaleOfPropertyPlantEquipment (1,048)us-gaap_GainLossOnSaleOfPropertyPlantEquipment (1,048)us-gaap_GainLossOnSaleOfPropertyPlantEquipment
Equity loss from joint ventures 822smp_EquityIncomeFromAndGainOnSaleOfJointVentures 285smp_EquityIncomeFromAndGainOnSaleOfJointVentures 0smp_EquityIncomeFromAndGainOnSaleOfJointVentures
Employee Stock Ownership Plan allocation 1,826us-gaap_EmployeeStockOwnershipPlanESOPCompensationExpense 4,376us-gaap_EmployeeStockOwnershipPlanESOPCompensationExpense 3,865us-gaap_EmployeeStockOwnershipPlanESOPCompensationExpense
Stock-based compensation 4,843us-gaap_ShareBasedCompensation 3,668us-gaap_ShareBasedCompensation 2,358us-gaap_ShareBasedCompensation
Excess tax benefits related to the exercise of employee stock grants (1,269)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (1,264)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities (343)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
(Increase) decrease in deferred income taxes (4,959)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes (527)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 6,098us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Decrease in unrecognized tax benefit (350)us-gaap_OtherNoncashIncomeTaxExpense 0us-gaap_OtherNoncashIncomeTaxExpense 0us-gaap_OtherNoncashIncomeTaxExpense
Decrease in tax valuation allowance (342)us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount (480)us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount (669)us-gaap_ValuationAllowanceDeferredTaxAssetChangeInAmount
Loss on discontinued operations, net of tax 9,870us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity 1,593us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity 1,616us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
Change in assets and liabilities:      
(Increase) decrease in accounts receivable 1,755us-gaap_IncreaseDecreaseInAccountsReceivable (27,278)us-gaap_IncreaseDecreaseInAccountsReceivable 15,393us-gaap_IncreaseDecreaseInAccountsReceivable
(Increase) in inventories (6,712)us-gaap_IncreaseDecreaseInInventories (6,094)us-gaap_IncreaseDecreaseInInventories (1,556)us-gaap_IncreaseDecreaseInInventories
(Increase) in prepaid expenses and other current assets (959)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (4,048)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (659)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Increase (decrease) in accounts payable (4,329)us-gaap_IncreaseDecreaseInAccountsPayable 12,497us-gaap_IncreaseDecreaseInAccountsPayable 3,287us-gaap_IncreaseDecreaseInAccountsPayable
Increase (decrease) in sundry payables and accrued expenses (7,697)us-gaap_IncreaseDecreaseInAccruedLiabilities 8,673us-gaap_IncreaseDecreaseInAccruedLiabilities 6,837us-gaap_IncreaseDecreaseInAccruedLiabilities
Net changes in other assets and liabilities (8,543)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (7,952)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (4,792)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash provided by operating activities 46,987us-gaap_NetCashProvidedByUsedInOperatingActivities 57,616us-gaap_NetCashProvidedByUsedInOperatingActivities 93,560us-gaap_NetCashProvidedByUsedInOperatingActivities
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions of and investments in businesses (37,726)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (12,760)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (38,594)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Capital expenditures (13,904)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (11,410)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (11,811)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Other investing activities 430us-gaap_PaymentsForProceedsFromOtherInvestingActivities (592)us-gaap_PaymentsForProceedsFromOtherInvestingActivities 493us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash used in investing activities (51,200)us-gaap_NetCashProvidedByUsedInInvestingActivities (24,762)us-gaap_NetCashProvidedByUsedInInvestingActivities (49,912)us-gaap_NetCashProvidedByUsedInInvestingActivities
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net borrowings (repayments) under line-of-credit agreements 35,152us-gaap_ProceedsFromRepaymentsOfLinesOfCredit (19,046)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit (32,547)us-gaap_ProceedsFromRepaymentsOfLinesOfCredit
Net borrowings (payments) of long-term debt and capital lease obligations 182us-gaap_ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities (120)us-gaap_ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities (105)us-gaap_ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
Purchase of treasury stock (10,000)us-gaap_PaymentsForRepurchaseOfCommonStock (6,864)us-gaap_PaymentsForRepurchaseOfCommonStock (4,999)us-gaap_PaymentsForRepurchaseOfCommonStock
Increase (decrease) in overdraft balances 522us-gaap_ProceedsFromRepaymentsOfBankOverdrafts (3,312)us-gaap_ProceedsFromRepaymentsOfBankOverdrafts 2,387us-gaap_ProceedsFromRepaymentsOfBankOverdrafts
Payments of debt issuance costs 0us-gaap_PaymentsOfDebtIssuanceCosts (1,261)us-gaap_PaymentsOfDebtIssuanceCosts 0us-gaap_PaymentsOfDebtIssuanceCosts
Proceeds from exercise of employee stock options 96us-gaap_ProceedsFromStockOptionsExercised 151us-gaap_ProceedsFromStockOptionsExercised 349us-gaap_ProceedsFromStockOptionsExercised
Excess tax benefits related to the exercise of employee stock grants 1,269us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 1,264us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 343us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Dividends paid (11,905)us-gaap_PaymentsOfDividendsCommonStock (10,107)us-gaap_PaymentsOfDividendsCommonStock (8,215)us-gaap_PaymentsOfDividendsCommonStock
Net cash provided by (used in) financing activities 15,316us-gaap_NetCashProvidedByUsedInFinancingActivities (39,295)us-gaap_NetCashProvidedByUsedInFinancingActivities (42,787)us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rate changes on cash (2,934)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (1,074)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 1,342us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase (decrease) in cash and cash equivalents 8,169us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (7,515)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 2,203us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
CASH AND CASH EQUIVALENTS at beginning of year 5,559us-gaap_CashAndCashEquivalentsAtCarryingValue 13,074us-gaap_CashAndCashEquivalentsAtCarryingValue 10,871us-gaap_CashAndCashEquivalentsAtCarryingValue
CASH AND CASH EQUIVALENTS at end of year 13,728us-gaap_CashAndCashEquivalentsAtCarryingValue 5,559us-gaap_CashAndCashEquivalentsAtCarryingValue 13,074us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid during the year for:      
Interest 882us-gaap_InterestPaid 1,050us-gaap_InterestPaid 1,636us-gaap_InterestPaid
Income taxes $ 27,562us-gaap_IncomeTaxesPaid $ 33,489us-gaap_IncomeTaxesPaid $ 16,087us-gaap_IncomeTaxesPaid