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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 31,648 $ 23,934
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 12,744 11,706
Amortization of deferred financing cost 113 172
Increase to allowance for doubtful accounts 337 93
Increase to inventory reserves 1,552 1,553
Amortization of deferred gain on sale of building 0 (218)
Equity (income) loss from joint ventures (2,047) (125)
Employee stock ownership plan allocation 1,260 1,278
Stock-based compensation 3,848 3,896
Decrease in deferred income taxes 2,547 502
Loss on discontinued operations, net of tax 2,011 1,490
Change in assets and liabilities:    
Increase in accounts receivable (26,622) (34,524)
Increase in inventories (19,691) (6,650)
Increase in prepaid expenses and other current assets (6,406) (2,988)
Increase (decrease) in accounts payable (6,994) 15,684
Decrease in sundry payables and accrued expenses (7,545) (9,115)
Net change in other assets and liabilities (6,261) (2,502)
Net cash provided by (used in) operating activities (19,506) 4,186
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of and investments in businesses (38,427) (8,572)
Net proceeds from sale of Grapevine, Texas facility 4,801 0
Capital expenditures (7,578) (11,325)
Other investing activities 46 16
Net cash used in investing activities (41,158) (19,881)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net borrowings under line-of-credit agreements 86,311 31,529
Net borrowings (payments) of other debt and capital lease obligations (355) 758
Purchase of treasury stock (10,738) (7,640)
Increase in overdraft balances 1,691 1,990
Dividends paid (10,296) (9,437)
Net cash provided by financing activities 66,613 17,200
Effect of exchange rate changes on cash 332 (255)
Net increase in cash and cash equivalents 6,281 1,250
CASH AND CASH EQUIVALENTS at beginning of period 11,138 17,323
CASH AND CASH EQUIVALENTS at end of period 17,419 18,573
Cash paid during the period for:    
Interest 2,516 1,656
Income taxes 13,785 9,622
Noncash investing activity:    
Accrual for additional investment in China joint venture $ 0 $ 1,373