XML 17 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings (loss) $ (13,590) $ 12,067
Adjustments to reconcile net earnings (loss) to net cash provided by (used for) operating activities -    
Depreciation 2,256 2,478
Amortization 234 133
Bad debt expense 5,102 100
Deferred income taxes 1,854 (209)
Net foreign currency transaction losses 37 (105)
Share-based compensation expense 1,063 1,102
Pension expense 345 785
Impairment of long-lived assets 3,055 0
Increase in cash surrender value of life insurance (250) (250)
Changes in operating assets and liabilities -    
Accounts receivable 6,908 (5,413)
Inventories 10,528 (8,622)
Prepaid expenses and other assets 2,963 1,731
Accounts payable (6,187) (6,418)
Accrued liabilities and other (3,494) (1,873)
Accrued income taxes (3,985) 338
Net cash provided by (used for) operating activities 6,839 (4,156)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of marketable securities 0 (14,641)
Proceeds from maturities of marketable securities 6,045 11,865
Life insurance premiums paid (155) (155)
Purchases of property, plant and equipment (3,151) (4,564)
Net cash provided by (used for) investing activities 2,739 (7,495)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Cash dividends paid (9,361) (9,408)
Shares purchased and retired (1,304) (4,029)
Net proceeds from stock options exercised 0 161
Taxes paid related to the net share settlement of equity awards 0 (5)
Proceeds from bank borrowings 32,855 113,711
Repayments of bank borrowings (34,724) (102,689)
Net cash used for financing activities (12,534) (2,259)
Effect of exchange rate changes on cash and cash equivalents 15 (8)
Net decrease in cash and cash equivalents (2,941) (13,918)
CASH AND CASH EQUIVALENTS at beginning of period 9,799 22,973
CASH AND CASH EQUIVALENTS at end of period 6,858 9,055
SUPPLEMENTAL CASH FLOW INFORMATION:    
Income taxes paid, net of refunds 638 3,385
Interest paid $ 52 $ 162