| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||
Net earnings | ||||||||||
57,917 | 43,003 | 37,976 | 60,430 | 46,018 | 43,029 | 51,450 | 41,353 | 62,401 | 21,960 | 3,483 |
Adjustments to reconcile net earnings to net cash used in operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
25,809 | 24,104 | 23,916 | 20,457 | 17,637 | 17,295 | 17,595 | 16,466 | 14,145 | 13,574 | 14,354 |
Amortization of deferred financing cost | ||||||||||
225 | 333 | 343 | 346 | 635 | 699 | 893 | 1,161 | 1,477 | - | - |
Increase to allowance for doubtful accounts | ||||||||||
-295 | 330 | 972 | 210 | 3,371 | -497 | 641 | -728 | -484 | 502 | 946 |
Increase to inventory reserves | ||||||||||
4,858 | 3,978 | 3,300 | 5,371 | 1,864 | 3,553 | 4,636 | 4,921 | 4,504 | 7,403 | 6,410 |
Amount of expenses charged against the earnings of deferred gain on sale of building by the entity during the period. | ||||||||||
0 | -218 | -1,048 | -1,048 | - | - | - | - | - | - | - |
Loss from sale of European distribution business | ||||||||||
- | - | - | - | - | - | - | - | - | -79 | -6,608 |
Gain on sale of property, plant and equipment | ||||||||||
0 | 3,997 | 15 | 7 | 1,048 | 1,048 | 1,048 | 1,048 | 1,048 | 1,048 | 1,048 |
Equity (income) from joint ventures | ||||||||||
2,865 | -768 | -602 | 2,029 | 976 | -822 | -285 | 0 | 2,826 | 97 | 274 |
The amount of plan compensation cost recognized during the period. | ||||||||||
2,519 | 2,557 | 2,159 | - | - | - | - | - | - | - | - |
Gain on disposal of property, plant and equipment | ||||||||||
- | - | - | - | - | - | - | - | - | 1,153 | -25 |
Gain on repurchase of convertible debentures | ||||||||||
- | - | - | - | - | - | - | - | - | - | 40 |
Gain on sale of investment | ||||||||||
- | - | - | - | - | - | - | - | - | - | 2,336 |
Employee stock ownership plan allocation | ||||||||||
- | - | - | 2,021 | 2,208 | 1,826 | 4,376 | 3,865 | 2,514 | 1,633 | 341 |
Stock-based compensation | ||||||||||
6,917 | 7,998 | 7,638 | 6,127 | 5,379 | 4,843 | 3,668 | 2,358 | 2,025 | 1,494 | 914 |
Excess tax benefits related to exercise of employee stock grants | ||||||||||
- | - | - | 849 | 1,254 | 1,269 | 1,264 | 343 | 501 | - | - |
Decrease in deferred income taxes | ||||||||||
-4,736 | 10,046 | -19,059 | 691 | 1,494 | 4,959 | 527 | -6,098 | -9,311 | -8,541 | -2,335 |
Decrease in unrecognized tax benefit | ||||||||||
- | - | - | - | - | -350 | 0 | 0 | -454 | -1,084 | 0 |
Increase (decrease) in tax valuation allowance | ||||||||||
-358 | -22 | 128 | -65 | -87 | 342 | 480 | 669 | 21,625 | 353 | -2,748 |
Loss from discontinued operations, net of income taxes | ||||||||||
-11,134 | -13,851 | -5,654 | -1,982 | -2,102 | -9,870 | -1,593 | -1,616 | -1,926 | -2,740 | -2,423 |
Change in assets and liabilities: | ||||||||||
Increase in accounts receivable | ||||||||||
-17,929 | 13,699 | 5,100 | 8,826 | 1,996 | -1,755 | 27,278 | -15,393 | -9,595 | -19,336 | -40,870 |
Increase in inventories | ||||||||||
17,901 | 30,199 | 13,901 | 20,155 | 12,503 | 6,712 | 6,094 | 1,556 | -2,500 | 47,952 | -29,830 |
(Increase) decrease in prepaid expenses and other current assets | ||||||||||
8,296 | -4,926 | 4,869 | -3,475 | -367 | 959 | 4,048 | 659 | -748 | 702 | -3,341 |
Increase (decrease) in accounts payable | ||||||||||
-1,950 | 16,894 | -7,186 | 7,345 | 1,882 | -4,329 | 12,497 | 3,287 | -3,105 | -1,542 | -12,952 |
Decrease in sundry payables and accrued expenses | ||||||||||
-18,097 | 8,407 | -6,015 | 20,990 | 1,874 | -7,697 | 8,673 | 6,837 | 4,026 | 7,975 | 13,703 |
Net changes in other assets and liabilities | ||||||||||
6,070 | -1,246 | -1,260 | -2,591 | -1,018 | 8,543 | 7,952 | 4,792 | 9,822 | 3,228 | 4,715 |
Net cash used in operating activities | ||||||||||
76,928 | 70,258 | 64,617 | 97,805 | 65,171 | 46,987 | 57,616 | 93,560 | 75,307 | 28,078 | 102,296 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||
Acquisitions of and investments in businesses | ||||||||||
43,490 | 9,852 | 6,808 | 67,289 | 0 | 37,726 | 12,760 | 38,594 | 70,532 | 2,024 | 12,770 |
Proceeds from the sale of property, plant and equipment | ||||||||||
- | - | - | - | - | - | - | - | - | 11 | 73 |
Net cash received from the sale of land and buildings | ||||||||||
- | - | - | - | - | - | - | - | - | 2,559 | 0 |
Net proceeds from sale of Grapevine, Texas facility | ||||||||||
4,800 | 0 | 0 | - | - | - | - | - | 1,317 | 0 | 824 |
Divestiture of joint ventures | ||||||||||
- | - | - | - | - | - | - | - | 4,317 | 2,372 | 4,000 |
Proceeds from sale of preferred stock investment | ||||||||||
- | - | - | - | - | - | - | - | - | - | 3,896 |
Capital expenditures | ||||||||||
16,185 | 20,141 | 24,442 | 20,921 | 18,047 | 13,904 | 11,410 | 11,811 | 11,037 | 10,806 | 7,174 |
Other investing activities | ||||||||||
-62 | -107 | -22 | -192 | -36 | -430 | 592 | -493 | -45 | - | - |
Net cash provided by (used in) investing activities | ||||||||||
-54,812 | -29,886 | -31,228 | -88,018 | -18,011 | -51,200 | -24,762 | -49,912 | -75,890 | -7,888 | -11,151 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||
Net borrowings under line-of-credit agreements | ||||||||||
8,771 | -13,311 | 2,188 | 7,384 | -9,131 | 35,152 | -19,046 | -32,547 | 20,113 | -5,543 | -88,467 |
Net borrowings (payments) of other debt and capital lease obligations | ||||||||||
-911 | 1,115 | 4,065 | 89 | -170 | 182 | -120 | -105 | 12,410 | 5,421 | 32,172 |
Repurchase of convertible debentures | ||||||||||
- | - | - | - | - | - | - | - | - | - | 433 |
Issuance of common stock | ||||||||||
- | - | - | - | - | - | - | - | - | - | 27,509 |
Purchase of treasury stock | ||||||||||
10,738 | 14,886 | 24,376 | 377 | 19,623 | 10,000 | 6,864 | 4,999 | 4,136 | 0 | 0 |
Issuance of unsecured promissory notes | ||||||||||
- | - | - | - | - | - | - | - | - | - | 5,339 |
Increase in overdraft balances | ||||||||||
93 | 275 | -534 | -254 | 851 | 522 | -3,312 | 2,387 | 645 | -2,920 | 56 |
Adjustment to costs related to issuance of common stock | ||||||||||
- | - | - | - | - | - | - | - | - | -36 | 0 |
Payments of debt issuance costs | ||||||||||
0 | 460 | 0 | 0 | 748 | 0 | 1,261 | 0 | 329 | 1,206 | 3,716 |
Proceeds from exercise of employee stock options | ||||||||||
- | - | - | - | 109 | 96 | 151 | 349 | 2,563 | 52 | 456 |
Excess tax benefits related to the exercise of employee stock grants | ||||||||||
- | - | - | 849 | 1,254 | 1,269 | 1,264 | 343 | 501 | 97 | -49 |
Dividends paid | ||||||||||
20,593 | 18,854 | 17,287 | 15,447 | 13,697 | 11,905 | 10,107 | 8,215 | 6,381 | 4,508 | 0 |
Net cash provided by financing activities | ||||||||||
-23,378 | -46,121 | -35,944 | -7,756 | -41,155 | 15,316 | -39,295 | -42,787 | 566 | -19,413 | -91,477 |
Effect of exchange rate changes on cash | ||||||||||
496 | -436 | 82 | -1,035 | -933 | -2,934 | -1,074 | 1,342 | -1,247 | 740 | 4,342 |
Net increase in cash and cash equivalents | ||||||||||
-766 | -6,185 | -2,473 | 996 | 5,072 | 8,169 | -7,515 | 2,203 | -1,264 | 1,517 | 4,010 |
Supplemental disclosure of cash flow information: | ||||||||||
Cash paid during the year for [Abstract] | ||||||||||
Interest | ||||||||||
5,030 | 3,738 | 1,944 | 1,207 | 901 | 882 | 1,050 | 1,636 | 2,775 | 5,387 | 10,416 |
Income taxes | ||||||||||
22,267 | 15,353 | 34,543 | 32,505 | 27,513 | 27,562 | 33,489 | 16,087 | 12,354 | 2,173 | 2,245 |
Noncash investing activity: | ||||||||||
Accrual for final contribution of acquired investment in noncash investing and financing activities. | ||||||||||
0 | 0 | 5,740 | 0 | 0 | - | - | - | - | - | - |
The amount of receivable related to net proceeds from sale of Grapevine in noncash investing and financing activities. | ||||||||||
0 | 4,801 | 0 | 0 | - | - | - | - | - | - | - |