XML 19 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 26,397 $ 21,144
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 14,619 14,129
Amortization of deferred financing cost 240 248
Increase to allowance for expected credit losses 418 204
Increase to inventory reserves 2,907 1,600
Equity income from joint ventures (2,207) (943)
Employee stock ownership plan allocation 1,394 1,483
Stock-based compensation 3,049 3,633
Increase in deferred income taxes (241) (390)
Loss on discontinued operations, net of tax 1,956 10,001
Change in assets and liabilities:    
Increase in accounts receivable (81,060) (48,271)
(Increase) decrease in inventories (3,641) 30,924
Increase (decrease) in prepaid expenses and other current assets 2,757 (468)
Increase (decrease) in accounts payable (2,168) 4,323
Increase in sundry payables and accrued expenses 29,966 2,776
Net change in other assets and liabilities (4,525) (1,023)
Net cash provided by (used in) operating activities (10,139) 39,370
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (22,941) (9,507)
Other investing activities 18 66
Net cash used in investing activities (22,923) (9,441)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of term loan (2,500) (2,500)
Net borrowings (repayments) under revolving credit facilities 54,500 (14,000)
Net borrowings (repayments) of other debt and lease obligations (14) (47)
Purchase of treasury stock (10,409) 0
Increase in overdraft balances 200 258
Dividends paid (12,706) (12,544)
Dividends paid to noncontrolling interest (600) (255)
Net cash provided by (used in) financing activities 28,471 (29,088)
Effect of exchange rate changes on cash (1,779) 1,028
Net increase (decrease) in cash and cash equivalents (6,370) 1,869
CASH AND CASH EQUIVALENTS at beginning of period 32,526 21,150
CASH AND CASH EQUIVALENTS at end of period 26,156 23,019
Cash paid during the period for:    
Interest 5,603 7,694
Income taxes 6,435 9,356
Noncash financing activity:    
Dividend payable to noncontrolling interest $ 1,400 $ 0