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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net earnings $ 16,993 $ 18,153 $ 19,824
Adjustments to reconcile net earnings to net cash provided by (used for) operating activities -      
Depreciation 3,670 3,612 3,659
Amortization 387 426 361
Bad debt expense 76 235 240
Deferred income taxes (2,645) 346 1,115
Net (gains) losses on remeasurement of contingent consideration 0 (458) 611
Net foreign currency transaction (gains) losses (513) 961 268
Stock-based compensation 1,559 1,559 1,465
Pension contributions (2,400) (2,633) (1,300)
Pension expense 3,184 3,699 2,212
Impairment of property, plant and equipment 113 0 0
Impairment of trademark 1,770 0 0
Increase in cash surrender value of life insurance (573) (573) (552)
Changes in operating assets and liabilities -      
Accounts receivable 3,179 1,009 (6,787)
Inventories 27,313 (28,282) (5,807)
Prepaid expenses and other assets (1,595) 2,237 (901)
Accounts payable (1,389) (2,326) 1,626
Accrued liabilities and other (1,447) (3,587) 604
Accrued income taxes (811) (105) 1,205
Net cash provided by (used for) operating activities 46,871 (5,727) 17,843
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of marketable securities (6,287) (3,033) (8,427)
Proceeds from maturities of marketable securities 5,745 8,191 8,177
Life insurance premiums paid (155) (155) (155)
Purchase of property, plant and equipment (5,992) (2,481) (2,890)
Net cash (used for) provided by investing activities (6,689) 2,522 (3,295)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Cash dividends paid (8,720) (8,452) (8,029)
Cash dividends paid to noncontrolling interest of subsidiary (170) 0 (198)
Shares purchased and retired (10,967) (9,858) (7,984)
Proceeds from stock options exercised 2,994 6,144 4,881
Payment of contingent consideration (5,217) 0 0
Proceeds from bank borrowings 121,959 160,534 101,200
Repayments of bank borrowings (144,340) (139,290) (107,795)
Income tax benefits from stock-based compensation 20 391 133
Net cash (used for) provided by financing activities (44,441) 9,469 (17,792)
Effect of exchange rate changes on cash and cash equivalents 43 (837) (226)
Net (decrease) increase in cash and cash equivalents (4,216) 5,427 (3,470)
CASH AND CASH EQUIVALENTS at beginning of year 17,926 12,499 15,969
CASH AND CASH EQUIVALENTS at end of year 13,710 17,926 12,499
SUPPLEMENTAL CASH FLOW INFORMATION:      
Income taxes paid, net of refunds 8,505 10,341 8,875
Interest paid $ 436 $ 181 $ 127