XML 39 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net earnings $ 28,476 $ 34,352 $ 55,435
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:      
Depreciation and amortization 31,413 29,022 28,298
Amortization of deferred financing cost 1,911 491 421
Increase (decrease) to allowance for expected credit losses 732 2,943 (757)
Increase to inventory reserves 4,155 3,068 6,035
Customer bankruptcy charge 0 0 7,002
Equity income from joint ventures (4,274) (2,070) (3,464)
Employee stock ownership plan allocation 2,787 2,966 2,296
Stock-based compensation 6,127 6,598 8,178
(Increase) in deferred income taxes (9,996) (6,952) (713)
Increase in tax valuation allowance 770 674 1,068
Loss on discontinued operations, net of tax 26,128 28,996 17,691
Change in assets and liabilities:      
(Increase) decrease in accounts receivable (8,753) 7,965 6,916
(Increase) decrease in inventories (36,883) 29,494 (67,495)
(Increase) decrease in prepaid expenses and other current assets 856 (70) (5,509)
Increase (decrease) in accounts payable 8,166 19,645 (48,604)
Increase (decrease) in sundry payables and accrued expenses 24,170 (4,284) (29,089)
Net changes in other assets and liabilities 908 (8,578) (5,242)
Net cash provided by (used in) operating activities 76,693 144,260 (27,533)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions of and investments in businesses (372,491) (3,954) (1,934)
Cash acquired in acquisitions 0 6,779 0
Capital expenditures (44,018) (28,633) (25,956)
Other investing activities (2,174) 108 73
Net cash used in investing activities (418,683) (25,700) (27,817)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Borrowings under term loans 211,457 0 100,000
Repayments of term loans (93) (5,000) (2,500)
Net borrowings (repayments) under revolving credit facilities 180,671 (78,500) 16,702
Net borrowings (repayments) of other debt and lease obligations 595 (58) (2,895)
Purchase of treasury stock (10,428) 0 (29,656)
Payments of debt issuance costs (5,133) 0 (2,128)
Increase (decrease) in overdraft balances 166 (189) (595)
Dividends paid (25,341) (25,164) (23,428)
Dividends paid to noncontrolling interest (2,347) (700) 0
Net cash provided by (used in) financing activities 349,547 (109,611) 55,500
Effect of exchange rate changes on cash 4,343 2,427 (755)
Net increase (decrease) in cash and cash equivalents 11,900 11,376 (605)
CASH AND CASH EQUIVALENTS at beginning of year 32,526 21,150 21,755
CASH AND CASH EQUIVALENTS at end of year 44,426 32,526 21,150
Cash paid during the year for:      
Interest 14,044 14,597 9,892
Income taxes $ 19,841 $ 16,019 $ 25,015