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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net earnings $ 90,954 $ 57,393 $ 57,917
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 27,243 26,323 25,809
Amortization of deferred financing cost 228 228 225
Increase (decrease) to allowance for expected credit losses 451 396 (295)
Increase (decrease) to inventory reserves (585) 5,962 4,858
Intangible asset impairment 0 2,600 0
Equity (income) from joint ventures (3,295) (820) (2,865)
Employee stock ownership plan allocation 2,513 2,301 2,519
Stock-based compensation 9,479 8,101 6,917
(Increase) decrease in deferred income taxes (1,801) (8,334) 4,736
Increase in tax valuation allowance 466 864 358
Loss on discontinued operations, net of tax 8,467 23,024 11,134
Change in assets and liabilities:      
(Increase) decrease in accounts receivable 28,464 (71,933) 2,789
(Increase) decrease in inventories (107,609) 17,984 (17,901)
Increase in prepaid expenses and other current assets (843) (370) (8,296)
Increase (decrease) in accounts payable 33,046 7,428 (1,950)
Increase (decrease) in sundry payables and accrued expenses 13,430 40,651 (2,957)
Net changes in other assets and liabilities (15,044) (13,902) (6,070)
Net cash provided by operating activities 85,564 97,896 76,928
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions of and investments in businesses, net of cash acquired (125,419) 0 (43,490)
Net proceeds from sale of Grapevine, Texas facility 0 0 4,801
Capital expenditures (25,875) (17,820) (16,185)
Other investing activities 45 21 62
Net cash used in investing activities (151,249) (17,799) (54,812)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Net borrowings (repayments) under line-of-credit agreements 115,298 (42,460) 8,771
Net borrowings (repayments) of other debt and lease obligations 3,048 (4,248) (911)
Purchase of treasury stock (26,862) (13,482) (10,738)
Dividends paid (22,179) (11,218) (20,593)
Increase (decrease) in overdraft balances 247 (108) 93
Dividends paid to noncontrolling interest (540) 0 0
Net cash provided by (used in) financing activities 69,012 (71,516) (23,378)
Effect of exchange rate changes on cash (1,060) 535 496
Net increase (decrease) in cash and cash equivalents 2,267 9,116 (766)
CASH AND CASH EQUIVALENTS at beginning of year 19,488 10,372 11,138
CASH AND CASH EQUIVALENTS at end of year 21,755 19,488 10,372
Cash paid during the year for:      
Interest 1,721 2,187 5,030
Income taxes $ 26,323 $ 24,640 $ 22,267