XML 19 R7.htm IDEA: XBRL DOCUMENT v3.22.1
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 income $ 29,440 $ 41,026 $ 12,066
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 9,291 8,132 8,272
Provision for bad debts - accounts receivable 2,260 6,746 1,323
Share-based compensation expense 4,010 2,530 1,484
Deferred income tax benefit (2,724) (4,987) (1,595)
Gain on sale of property, plant and equipment 0 (2,164) (5)
Change in fair value of acquisition-related contingent liabilities 2,936 4,119 (74)
Pension plan termination charge 7,821 0 0
Changes in assets and liabilities, net of acquisition of businesses:      
Accounts receivable (2,575) (29,251) (17,104)
Accounts receivable - other (4,189) (273) 660
Contract assets 1,212 (699) 10,703
Inventories (21,753) (16,763) (4,984)
Prepaid expenses and other current assets (7,852) (1,474) (3,479)
Other assets (2,325) 464 (1,717)
Accounts payable and other current liabilities 1,007 32,690 10,904
Payment of acquisition-related contingent liabilities (4,221) 0 0
Long-term pension liability 1,951 (508) 2,138
Other long-term liabilities 2,791 1,771 1,415
Net cash provided by operating activities 17,080 41,359 20,007
CASH FLOWS FROM INVESTING ACTIVITIES      
Additions to property, plant and equipment (17,696) (11,857) (9,672)
Proceeds from disposals of property, plant and equipment 0 5,284 5
Acquisition of businesses (16,434) 0 0
Net cash used in investing activities (34,130) (6,573) (9,667)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from borrowings of debt 250,608 202,349 165,314
Repayment of debt (223,025) (234,063) (163,645)
Payment of cash dividends (7,237) (6,111) (6,046)
Payment of acquisition-related contingent liabilities (1,641) (1,966) (961)
Proceeds received on exercise of stock options 2,703 1,927 283
Tax withholdings on exercise of stock rights (584) (66) 0
Tax (provision) benefit from vesting of acquisition-related restricted stock 171 (13) 30
Common stock reacquired and retired 0 (500) (1,685)
Net cash provided by (used in) financing activities 20,995 (38,443) (6,710)
Effect of currency exchange rates on cash (182) (209) 46
Net increase (decrease) in cash and cash equivalents 3,763 (3,866) 3,676
Cash and cash equivalents balance, beginning of year 5,172 9,038 5,362
Cash and cash equivalents balance, end of year 8,935 5,172 9,038
Supplemental disclosure of cash flow information:      
Income taxes paid 14,632 13,390 7,146
Interest paid $ 1,298 $ 1,490 $ 3,979