XML 22 R6.htm IDEA: XBRL DOCUMENT v3.24.0.1
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 income $ 34,951 $ 11,195 $ 29,851
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 28,496 21,158 11,914
LIFO expense 6,891 18,041 6,669
Pension expense 3,604 9,985 4,989
Contributions to pension plan (2,250) (2,250) (2,000)
Stock based compensation 3,252 2,957 2,396
Amortization of debt issuance fees 3,014 1,717 0
Deferred income tax charge (benefit) (414) (1,086) 50
Other 1,335 (128) (103)
Changes in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable, net 3,752 (13,954) (8,702)
Inventories, net 559 (32,772) (10,959)
Accounts payable (1,518) (2,250) 8,717
Commissions payable 9 2,051 2,718
Deferred revenue and customer deposits 5,773 (2,329) 1,351
Accrued expenses and other 6,316 (954) (1,631)
Income taxes 1,226 1,907 0
Benefit obligations 3,229 397 178
Net cash provided by operating activities 98,225 13,685 45,438
Cash flows from investing activities      
Capital additions (20,835) (17,986) (9,751)
Acquisitions (0) 527,993 (0)
Other 672 306 582
Net cash used for investing activities (20,163) (545,673) (9,169)
Cash flows from financing activities:      
Cash dividends (18,447) (17,872) (16,586)
Treasury share repurchases (1,029) (918) (1,245)
Proceeds from bank borrowings 5,000 457,000 0
Payments to banks for borrowings 39,500 8,750 (0)
Debt issuance fees (0) 15,217 (0)
Other (551) (130) (722)
Net cash provided by (used for) financing activities (54,527) 414,113 (18,553)
Effect of exchange rate changes on cash 200 (536) (725)
Net increase (decrease) in cash and cash equivalents 23,735 (118,411) 16,991
Cash and cash equivalents:      
Beginning of year 6,783 125,194 108,203
End of period $ 30,518 $ 6,783 $ 125,194