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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 12,216 $ 7,989
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation and amortization 6,178 6,016
Amortization of deferred financing cost 56 86
Increase to allowance for doubtful accounts 920 110
Increase to inventory reserves 357 1,223
Amortization of deferred gain on sale of building 0 (218)
Equity (income) loss from joint ventures (661) 171
Employee stock ownership plan allocation 630 639
Stock-based compensation 1,900 1,917
(Increase) decrease in deferred income taxes 1,213 (77)
Loss on discontinued operations, net of tax 888 608
Change in assets and liabilities:    
Increase in accounts receivable (22,252) (20,367)
Increase in inventories (14,656) (3,390)
(Increase) decrease in prepaid expenses and other current assets (282) 1,559
Increase in accounts payable 1,181 10,674
Decrease in sundry payables and accrued expenses (12,911) (12,997)
Net changes in other assets and liabilities (1,503) (95)
Net cash used in operating activities (26,726) (6,152)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of and investments in businesses 0 (6,472)
Net proceeds from sale of Grapevine, Texas facility 4,801 0
Capital expenditures (3,084) (6,903)
Other investing activities 29 0
Net cash provided by (used in) investing activities 1,746 (13,375)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net borrowings under line-of-credit agreements 35,029 33,000
Net borrowings (payments) of other debt and capital lease obligations (271) 1,054
Purchase of treasury stock (5,835) (3,221)
Increase in overdraft balances 1,409 1,885
Dividends paid (5,159) (4,721)
Net cash provided by financing activities 25,173 27,997
Effect of exchange rate changes on cash 415 433
Net increase in cash and cash equivalents 608 8,903
CASH AND CASH EQUIVALENTS at beginning of period 11,138 17,323
CASH AND CASH EQUIVALENTS at end of period 11,746 26,226
Cash paid during the period for:    
Interest 974 480
Income taxes 2,156 671
Noncash investing activity:    
Accrual for additional investment in China joint venture $ 0 $ 3,473