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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 22,326 $ 22,365
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 8,552 8,440
Amortization of deferred financing cost 348 350
Increase (decrease) to allowance for doubtful accounts 39 (359)
Increase to inventory reserves 396 1,960
Amortization of deferred gain on sale of building (524) (524)
Equity income from joint ventures (966) (147)
Employee Stock Ownership Plan allocation 1,104 913
Stock-based compensation 2,927 2,397
Excess tax benefits related to exercise of employee stock grants (130) (152)
Increase in deferred income taxes (53) (273)
Loss on discontinued operations, net of tax 821 1,211
Change in assets and liabilities:    
Increase in accounts receivable (34,563) (16,149)
Increase in inventories (820) (19,527)
Increase in prepaid expenses and other current assets (489) (6,702)
Increase in accounts payable 18,327 13,847
Increase in sundry payables and accrued expenses 9,947 13,526
Net change in other assets and liabilities (1,070) (3,558)
Net cash provided by operating activities 26,172 17,618
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of and investments in businesses 0 (37,726)
Capital expenditures (10,184) (6,379)
Other investing activities 26 11
Net cash used in investing activities (10,158) (44,094)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net borrowings (repayments) under line-of-credit agreements (3,642) 37,664
Principal payments of long-term debt and capital lease obligations (119) (44)
Purchase of treasury stock (7,046) (5,860)
Increase in overdraft balances 279 1,784
Proceeds from exercise of employee stock options 109 97
Excess tax benefits related to the exercise of employee stock grants 130 152
Dividends paid (6,876) (5,955)
Net cash provided by (used in) financing activities (17,165) 27,838
Effect of exchange rate changes on cash 127 (704)
Net increase (decrease) in cash and cash equivalents (1,024) 658
CASH AND CASH EQUIVALENTS at beginning of period 13,728 5,559
CASH AND CASH EQUIVALENTS at end of period 12,704 6,217
Cash paid during the period for:    
Interest 558 370
Income taxes $ 13,987 $ 18,516