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Statements of Consolidated Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
OPERATING ACTIVITIES      
Net income $ 54,399 $ 35,721 $ 29,761
Adjustments to reconcile net income to net cash provided by operations:      
Depreciation and amortization 16,430 15,564 13,838
Provision for accounts receivable allowances 2,169 2,895 2,053
Provision for inventory reserves 2,352 3,052 2,035
Deferred income taxes (2,656) 6,544 (3,380)
Share-based compensation expense 4,596 4,163 4,089
Goodwill impairment 6,529    
Gain from company owned life insurance policy (4,364)    
Loss on exit of business 1,025    
(Gain) loss on sale of property and equipment (775) (184) 1,108
Other, net 92 656 6
Changes in operating assets and liabilities      
Accounts receivable (28,049) (11,576) (10,539)
Inventories (36,979) (24,154) 80
Prepaid expenses 5,051 (2,974) (8,786)
Trade accounts payable and accrued liabilities 6,707 11,558 6,952
Accrued income and other taxes 2,005 (4,332) 3,470
Contributions to company pension plan (2,132)   (330)
Other, net (247) (3,335) 1,285
NET CASH PROVIDED BY OPERATING ACTIVITIES 26,153 33,598 41,642
INVESTING ACTIVITIES      
Capital expenditures (40,598) (18,384) (24,569)
Proceeds from the sale of property and equipment 3,169 141 10,525
Proceeds from company owned life insurance policy 6,909    
Acquisition of businesses, net of cash (16,235)    
NET CASH USED IN INVESTING ACTIVITIES (46,755) (18,243) (14,044)
FINANCING ACTIVITIES      
Increase in notes payable to banks 2,214 376 9,465
Proceeds from long-term debt 185,016 98,919 90,847
Payments of long-term debt (155,929) (113,537) (110,083)
Dividends paid (4,099) (4,128) (4,184)
Proceeds from issuance of common shares 808 409 252
Purchase of common shares for treasury (158) (177) (5,836)
Purchase of common shares for treasury from related parties (5,309) (5,092) (3,626)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 22,543 (23,230) (23,165)
Effects of exchange rate changes on cash, cash equivalents and restricted cash (1,108) (894) 1,479
Net increase (decrease) in cash, cash equivalents and restricted cash 833 (8,769) 5,912
Cash, cash equivalents and restricted cash at beginning of year 36,406 [1] 45,175 [1] 39,263
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR [1] $ 37,239 $ 36,406 $ 45,175
[1] Non-cash investing and financing activities: The Company purchased a new corporate aircraft during the year ended December 31, 2021 with a term loan in the principal amount of $20.5 million. For further information regarding this transaction, refer to Note 7 of the Notes to the Consolidated Financial Statements.