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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 39,683 $ 46,623
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 17,745 17,439
Amortization of deferred financing cost 258 258
Increase to allowance for doubtful accounts 40 889
Increase to inventory reserves 2,753 1,579
Amortization of deferred gain on sale of building (218) (786)
Equity income from joint ventures (603) (970)
Employee Stock Ownership Plan allocation 1,918 1,619
Stock-based compensation 5,614 5,663
(Increase) decrease in deferred income taxes (2,556) 700
Loss on discontinued operations, net of tax 5,014 5,113
Change in assets and liabilities:    
Increase in accounts receivable (23,428) (27,753)
(Increase) decrease in inventories 2,761 (18,746)
(Increase) decrease in prepaid expenses and other current assets 1,202 (4,805)
Increase in accounts payable 5,193 90
Increase in sundry payables and accrued expenses 12,828 8,728
Net change in other assets and liabilities (619) 1,120
Net cash provided by operating activities 67,585 36,761
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of and investments in businesses (9,852) 0
Capital expenditures (15,633) (17,710)
Other investing activities 37 6
Net cash used in investing activities (25,448) (17,704)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net borrowings (payments) under line-of-credit agreements (12,000) 18,188
Net borrowings (payments) of other debt and capital lease obligations 1,463 (35)
Purchase of treasury stock (9,271) (20,000)
Increase in overdraft balances 1,382 658
Dividends paid (14,144) (12,990)
Net cash used in financing activities (32,570) (14,179)
Effect of exchange rate changes on cash 431 724
Net increase in cash and cash equivalents 9,998 5,602
CASH AND CASH EQUIVALENTS at beginning of period 17,323 19,796
CASH AND CASH EQUIVALENTS at end of period 27,321 25,398
Cash paid during the period for:    
Interest 2,896 1,456
Income taxes $ 11,829 $ 30,181