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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net earnings $ 91,886 $ 75,892 $ 65,308
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 18,243 17,668 17,570
Deferred income taxes (913) 1,535 (1,263)
Amortization of marketable security premiums 3,946 5,531 3,837
Changes in operating assets and liabilities:      
Accounts receivable 4,891 (3,073) (14,130)
Other receivables (4,574) (1,020) (706)
Inventories (9,601) (28,415) 3,940
Prepaid expenses and other assets (15,856) 49 2,622
Accounts payable and accrued liabilities (3,570) 10,329 10,010
Income taxes payable 9,583 (4,565) (1,296)
Postretirement health care benefits (649) (804) (1,281)
Deferred compensation and other liabilities 1,225 (1,076) 687
Net cash provided by operating activities 94,611 72,051 85,298
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (26,796) (23,356) (31,426)
Repayment of premiums on split dollar life insurance policies     2,514
Purchases of trading securities (1,875) (1,543) (2,668)
Sales of trading securities 774 2,806 968
Purchase of available for sale securities (92,431) (96,114) (108,576)
Sale and maturity of available for sale securities 106,128 49,618 47,289
Net cash used in investing activities (14,200) (68,589) (91,899)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Shares purchased and retired (33,114) (31,910) (30,184)
Dividends paid in cash (25,076) (24,629) (24,136)
Proceeds from bank loans 3,499 3,989 3,792
Repayment of bank loans (3,489) (3,850) (3,618)
Net cash used in financing activities (58,180) (56,400) (54,146)
Effect of exchange rate changes on cash 424 347 (283)
Increase (decrease) in cash and cash equivalents 22,655 (52,591) (61,030)
Cash, cash equivalents and restricted cash at beginning of year 53,635 106,226 167,256
Cash, cash equivalents and restricted cash at end of year 76,290 53,635 106,226
Supplemental cash flow information:      
Income taxes paid 19,583 23,884 22,855
Interest paid 258 78 6
Stock dividend issued $ 86,433 $ 70,242 $ 64,667