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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES      
Net income $ 41,695 $ 40,347 $ 29,026
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 2,416 1,905 1,816
Stock-based compensation expense 3,711 2,707 2,289
Gain on disposition of assets, net (2,036)    
Deferred income tax benefit (3,126) (1,798) (140)
Pension settlement loss 2,363 1,180  
(Increase) decrease in assets:      
Accounts receivable 2,865 (2,078) 1,444
Income taxes receivable (333) (18) (10)
Inventories 11,404 246 (30,951)
Prepaid expenses and other current assets 792 (614) (527)
Other non-current assets (5,658) 2,675 (1,889)
Increase (decrease) in liabilities:      
Accounts payable (2,179) 1,479 692
Accrued expenses and other liabilities 1,130 4,042 (4,287)
Other long-term liabilities 3,802 (725) 2,994
Net cash provided by operating activities 56,846 49,348 457
INVESTING ACTIVITIES      
Capital expenditures (10,174) (2,500) (1,248)
Proceeds from sale of assets 2,303    
Net cash used for investing activities (7,871) (2,500) (1,248)
FINANCING ACTIVITIES      
Payment of dividends (19,284) (17,077) (15,629)
Cash paid for common stock purchased and retired (910) (702) (1,051)
Net cash used for financing activities (20,194) (17,779) (16,680)
Net increase (decrease) in cash and cash equivalents 28,781 29,069 (17,471)
Cash and cash equivalents at beginning of period 43,171 14,102 31,573
Cash and cash equivalents at end of period 71,952 43,171 14,102
Supplemental information:      
Income tax payments, net $ 13,911 $ 13,022 $ 7,493