| 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 | ||||||||||
20,882 | 19,959 | 16,699 | 16,993 | 18,153 | 19,824 | 18,249 | 20,399 | 16,441 | 14,126 | 13,070 |
Adjustments to reconcile net earnings to net cash provided by operating activities - | ||||||||||
Depreciation | ||||||||||
3,292 | 3,712 | 3,956 | 3,670 | 3,612 | 3,659 | 3,962 | 3,338 | 2,591 | 2,700 | 2,948 |
Amortization | ||||||||||
194 | 318 | 349 | 387 | 426 | 361 | 272 | 305 | 253 | 116 | 93 |
Bad debt expense | ||||||||||
122 | 311 | 621 | 76 | 235 | 240 | 132 | 175 | 316 | 35 | 631 |
Deferred income taxes | ||||||||||
-869 | 643 | 2,187 | -2,645 | 346 | 1,115 | 1,268 | 1,648 | -343 | 503 | -18 |
Net gain on remeasurement of contingent consideration | ||||||||||
- | - | - | 0 | -458 | 611 | 24 | -3,522 | -206 | - | - |
Net foreign currency transaction (gains) losses | ||||||||||
13 | -459 | 146 | 513 | -961 | -268 | -279 | -138 | - | - | - |
Net gain on remeasurement of contingent consideration | ||||||||||
- | - | - | - | - | - | - | - | - | 0 | - |
Net foreign currency transaction losses | ||||||||||
- | - | - | - | - | - | - | - | -197 | 400 | 1,339 |
Share-based compensation expense | ||||||||||
1,452 | 1,513 | 1,622 | 1,559 | 1,559 | 1,465 | 1,283 | 1,201 | 1,224 | 1,128 | 877 |
Pension contribution | ||||||||||
0 | 3,000 | 4,000 | 2,400 | 2,633 | 1,300 | 1,282 | 0 | 1,600 | 1,500 | 1,000 |
Pension expense | ||||||||||
1,047 | 696 | 995 | 3,184 | 3,699 | 2,212 | 3,737 | 3,407 | 2,836 | 3,248 | 2,986 |
Impairment of long-lived assets | ||||||||||
259 | 356 | 0 | 113 | 0 | 0 | - | - | - | - | - |
Impairment of trademark | ||||||||||
- | - | - | 1,770 | 0 | 0 | - | - | - | - | - |
Other-than-temporary investment impairment | ||||||||||
- | - | - | - | - | - | 200 | 0 | 0 | - | - |
Net gains on sale of marketable securities | ||||||||||
- | - | - | - | - | - | - | - | 346 | 0 | - |
Loss on disposal of fixed assets | ||||||||||
-330 | 0 | - | - | - | - | - | - | - | -16 | -13 |
Impairment of property, plant and equipment | ||||||||||
- | - | - | - | - | - | - | 93 | 165 | 310 | 1,110 |
Increase in cash surrender value of life insurance | ||||||||||
564 | 528 | 517 | 573 | 573 | 552 | 540 | 535 | 527 | 515 | 507 |
Changes in operating assets and liabilities - | ||||||||||
Accounts receivable | ||||||||||
138 | 2,409 | -637 | -3,179 | -1,009 | 6,787 | -421 | 5,586 | 1,267 | 4,642 | -2,286 |
Inventories | ||||||||||
14,042 | 12,387 | -9,634 | -27,313 | 28,282 | 5,807 | -2,048 | 2,676 | 3,667 | 14,889 | -15,758 |
Prepaid expenses and other assets | ||||||||||
623 | -531 | -486 | 1,595 | -2,237 | 901 | 295 | -368 | 752 | 681 | 1,153 |
Accounts payable | ||||||||||
-315 | 3,898 | -2,813 | -1,378 | -1,995 | 1,626 | 2,846 | -1,802 | 2,141 | 1,031 | -231 |
Accrued liabilities and other | ||||||||||
-817 | -2,617 | 3,720 | -1,447 | -3,587 | 604 | -2,858 | 1,356 | 619 | 654 | - |
Accrued liabilities and other | ||||||||||
- | - | - | - | - | - | - | - | - | - | -1,089 |
Accrued income taxes | ||||||||||
-810 | 2,427 | 124 | -811 | -105 | 1,205 | 80 | -320 | -932 | -1,142 | 3,467 |
Excess tax benefits from share-based compensation | ||||||||||
0 | 830 | 37 | 0 | 0 | - | - | - | - | - | - |
Acquisition of businesses, net of cash acquired | ||||||||||
- | - | - | - | - | - | - | - | 27,023 | 2,638 | 9,320 |
Net cash provided by operating activities | ||||||||||
9,387 | 13,052 | 33,517 | 46,882 | -5,396 | - | - | - | - | 98 | 37,902 |
Net cash provided by operating activities | ||||||||||
- | - | - | - | - | 17,843 | 29,826 | 17,987 | 17,143 | - | - |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||
Purchase of marketable securities | ||||||||||
14,641 | 7,949 | 15,597 | 6,287 | 3,033 | 8,427 | 122 | 10 | 1,179 | 22,762 | 8,073 |
Proceeds from maturities of marketable securities | ||||||||||
13,250 | 11,338 | 17,565 | 5,745 | 8,191 | 8,177 | 13,968 | 7,342 | 12,963 | 6,375 | 7,273 |
Life insurance premiums paid | ||||||||||
155 | 155 | 155 | 155 | 155 | 155 | 155 | 155 | 155 | -155 | - |
Investment in real estate | ||||||||||
- | - | - | - | - | - | 3,206 | 0 | 0 | - | - |
Proceeds from the sale of property, plant and equipment | ||||||||||
- | - | - | - | - | - | - | - | - | 0 | - |
Life insurance premiums paid | ||||||||||
- | - | - | - | - | - | - | - | - | - | 155 |
Purchases of property, plant and equipment | ||||||||||
7,392 | 1,410 | 1,578 | 5,992 | 2,481 | 2,890 | 2,699 | 9,540 | 8,175 | 1,510 | 1,316 |
Net cash provided by (used for) investing activities | ||||||||||
-8,938 | 1,824 | 235 | -6,689 | 2,522 | - | - | - | - | -20,690 | -11,591 |
Net cash used for investing activities | ||||||||||
- | - | - | - | - | -3,295 | 7,786 | -2,363 | -23,569 | - | - |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||
Cash dividends paid | ||||||||||
9,408 | 9,213 | - | - | - | - | - | - | - | - | - |
Cash received from noncontrolling interest | ||||||||||
- | - | - | - | - | - | - | - | - | - | 1,314 |
Cash dividends paid | ||||||||||
- | - | 8,877 | 8,720 | 8,452 | 8,029 | 3,904 | 10,875 | 7,155 | 7,026 | 6,578 |
Cash dividends paid to noncontrolling interest of subsidiary | ||||||||||
0 | 88 | 204 | 170 | 0 | 198 | 205 | 233 | 0 | 0 | - |
Payment to acquire noncontrolling interest of subsidiary | ||||||||||
0 | -3,740 | - | - | - | - | - | - | - | - | - |
Payment to acquire noncontrolling interest of subsidiary | ||||||||||
- | - | 0 | - | - | - | - | - | - | - | - |
Shares purchased and retired | ||||||||||
5,649 | 11,414 | 15,190 | 10,967 | 9,858 | 7,984 | 4,623 | 6,558 | 13,021 | 2,321 | 2,633 |
Net proceeds from stock options exercised | ||||||||||
161 | 4,403 | 4,284 | 2,994 | 6,144 | 4,881 | 3,932 | 2,300 | 1,096 | 1,202 | 683 |
Taxes paid related to the net share settlement of equity awards | ||||||||||
5 | 699 | 154 | 11 | 331 | - | - | - | - | - | - |
Payment of contingent consideration | ||||||||||
- | - | - | 5,217 | 0 | 0 | 1,270 | 0 | 0 | - | - |
Payment of indemnification holdback | ||||||||||
- | - | - | - | - | - | - | 2,000 | 0 | 0 | - |
Payment of indemnification holdback | ||||||||||
- | - | - | - | - | - | - | - | - | 0 | - |
Repayment of debt assumed in acquisition | ||||||||||
- | - | - | - | - | - | - | - | 3,814 | 0 | - |
Net repayments of commercial paper | ||||||||||
- | - | - | - | - | - | - | - | -5,000 | 5,000 | -1,250 |
Proceeds from bank borrowings | ||||||||||
151,358 | 60,340 | 31,570 | 121,959 | 160,534 | 101,200 | 11,000 | 33,000 | 73,000 | 0 | - |
Repayments of bank borrowings | ||||||||||
150,149 | 54,500 | 35,838 | 144,340 | 139,290 | 107,795 | 44,000 | 25,000 | 36,000 | 0 | - |
Excess tax benefits from stock-based compensation | ||||||||||
- | - | - | 20 | 391 | 133 | 570 | 655 | 496 | 555 | 124 |
Net cash used for financing activities | ||||||||||
- | - | - | - | - | -17,792 | -38,500 | -8,711 | 9,602 | - | - |
Net cash used for financing activities | ||||||||||
-13,692 | -14,911 | -24,409 | -44,452 | 9,138 | - | - | - | - | -2,590 | -8,340 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
69 | -445 | 400 | 43 | -837 | -226 | -431 | 46 | 3 | 332 | 543 |
Net increase (decrease) in cash and cash equivalents | ||||||||||
-13,174 | -480 | - | - | - | - | - | - | - | - | - |
Net (decrease) increase in cash and cash equivalents | ||||||||||
- | - | 9,743 | -4,216 | 5,427 | -3,470 | -1,319 | 6,959 | 3,179 | -22,850 | 18,514 |
SUPPLEMENTAL CASH FLOW INFORMATION: | ||||||||||
Income taxes paid, net of refunds | ||||||||||
7,604 | 3,669 | 4,901 | 8,505 | 10,341 | 8,875 | 7,807 | 8,946 | 7,989 | 8,472 | 3,055 |
Interest paid | ||||||||||
244 | 45 | 15 | 436 | 181 | - | - | - | - | - | - |
Interest paid | ||||||||||
- | - | - | - | - | 127 | 335 | 442 | 457 | 118 | 28 |