XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 48,161 $ 19,594
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 13,100 12,877
Amortization of deferred financing cost 114 114
Increase to allowance for doubtful accounts 321 376
Increase (decrease) to inventory reserves (463) 3,048
Equity income from joint ventures (1,156) (429)
Employee stock ownership plan allocation 1,257 1,150
Stock-based compensation 4,381 3,306
(Increase) decrease in deferred income taxes (2,344) 232
Loss on discontinued operations, net of tax 2,017 1,869
Change in assets and liabilities:    
(Increase) in accounts receivable (4,715) (38,623)
(Increase) decrease in inventories (46,682) 12,725
Decrease in prepaid expenses and other current assets 3,220 5,664
Increase (decrease) in accounts payable 16,097 (21,804)
Increase (decrease) in sundry payables and accrued expenses (6,491) 2,085
Net change in other assets and liabilities (3,664) (3,069)
Net cash provided by (used in) operating activities 23,153 (885)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of and investments in businesses (109,267) 0
Capital expenditures (11,709) (9,026)
Other investing activities 2 6
Net cash used in investing activities (120,974) (9,020)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net borrowings under line-of-credit agreements 125,000 32,540
Net borrowings of other debt and capital lease obligations 2,250 1,809
Purchase of treasury stock (11,096) (8,726)
Increase in overdraft balances 694 1,818
Dividends paid (11,134) (5,615)
Net cash provided by financing activities 105,714 21,826
Effect of exchange rate changes on cash 72 217
Net increase in cash and cash equivalents 7,965 12,138
CASH AND CASH EQUIVALENTS at beginning of period 19,488 10,372
CASH AND CASH EQUIVALENTS at end of period 27,453 22,510
Cash paid during the period for:    
Interest 481 1,561
Income taxes $ 12,803 $ 1,030