Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash Flows from Operating Activities      
Net Income $ 52,017 $ 46,803 $ 19,679
Adjustments to Reconcile Net Income to Cash Provided By Operating Activities, Excluding the Effects of Acquisitions and Divestitures:      
Depreciation and Amortization 33,049 35,032 27,063
Provision for Losses on Inventory and Receivables 16,947 3,271 2,973
Equity-based Compensation Expense 3,843 3,098 2,598
Deferred Tax Benefit (14,385) (2,680) (5,494)
Operating Lease Expense 4,208    
Net Gain on Sale of Businesses (78,801) 0 0
Impairment Loss 11,083 0 16,237
Accrued Litigation Claim 19,619 1,000 0
Restructuring Activities 6,539 0 0
Equity Investment Other Than Temporary Impairment 5,000 0 0
Other 1,610 (668) (937)
Cash Flows from Changes in Operating Assets and Liabilities, net of the Effects from Acquisitions and Divestitures of Businesses:      
Accounts Receivable 34,083 (47,291) (9,844)
Inventories (12,711) (14,695) (18,116)
Prepaid Expenses and Other Current Assets (1,160) 464 (2,132)
Accounts Payable (16,617) 9,171 10,439
Accrued Expenses (10,737) 8,177 (702)
Income Taxes Payable 3,371 (4,460) (376)
Customer Advanced Payments and Deferred Revenue (11,919) 15,735 (4,918)
Operating Lease Liabilities (3,840)    
Supplemental Retirement Plan and Other Liabilities 1,490 1,924 1,313
Cash Flows from Operating Activities 42,689 54,881 37,783
Cash Flows from Investing Activities      
Acquisitions of Businesses, Net of Cash Acquired (28,907) 0 (114,039)
Proceeds from Sale of Businesses 104,877 0 0
Capital Expenditures (12,083) (16,317) (13,478)
Other Investing Activities 743 (3,350) (2,044)
Cash Flows from Investing Activities 64,630 (19,667) (129,561)
Cash Flows from Financing Activities      
Proceeds From Long-term Debt 117,000 35,015 147,086
Principal Payments on Long-term Debt (156,107) (72,834) (23,720)
Purchase of Outstanding Shares for Treasury (50,784) 0 (32,382)
Debt Acquisition Costs 0 (516) 0
Stock Options Activity (545) 2,201 441
Finance Lease Principal Payments (1,746)    
Cash Flows From Financing Activities (92,182) (36,134) 91,425
Effect of Exchange Rates on Cash 147 (372) 366
Increase (Decrease) in Cash and Cash Equivalents 15,284 (1,292) 13
Cash and Cash Equivalents at Beginning of Year 16,622 17,914 17,901
Cash and Cash Equivalents at End of Year 31,906 16,622 17,914
Supplemental Cash Flow Information:      
Interest Paid 5,707 9,710 4,775
Income Taxes Paid, Net of Refunds $ 27,343 $ 12,218 $ 10,777