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, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows from Operating Activities      
Net (Loss) Income $ (25,578) $ (115,781) $ 52,017
Adjustments to Reconcile Net (Loss) Income to Cash from Operating Activities, Excluding the Effects of Acquisitions and Divestitures:      
Depreciation and Amortization 29,005 31,854 33,049
Provision for Losses on Inventory and Receivables 3,942 6,079 16,947
Equity-based Compensation Expense 6,460 5,184 3,843
Deferred Tax (Benefit) Expense (441) 15,553 (14,385)
Operating Lease Non-cash Expense 5,198 4,500 4,208
Net Gain on Sales of Assets (5,083) 0 0
Contingent Consideration Liability Fair Value Adjustment (2,200) 0 0
Non-cash 401K Contribution 4,199 0 0
Net Gain on Sale of Businesses, Before Taxes (10,677) 0 (78,801)
Impairment Loss 0 87,016 11,083
Accrued Litigation Claim 8,374 0 19,619
Equity Investment Other Than Temporary Impairment 0 3,493 5,000
Restructuring Activities 267 1,173 6,539
Deferral of Federal Payroll Taxes 0 5,877 0
Other 3,912 2,157 1,610
Cash Flows from Changes in Operating Assets and Liabilities:      
Accounts Receivable (14,832) 53,928 34,083
Inventories (5,150) (13,614) (12,711)
Prepaid Expenses and Other Current Assets 20 (45) (1,160)
Accounts Payable 8,610 (9,930) (16,617)
Accrued Expenses (5,037) (17,667) (10,737)
Income Taxes Payable/Receivable 156 (10,440) 3,371
Customer Advanced Payments and Deferred Revenue (235) (7,043) (11,919)
Operating Lease Liabilities (6,036) (4,556) (3,840)
Supplemental Retirement Plan and Other Liabilities (404) (403) 1,490
Cash Flows from Operating Activities (5,530) 37,335 42,689
Cash Flows from Investing Activities      
Acquisitions of Businesses, Net of Cash Acquired 0 0 (28,907)
Proceeds from Sale of Businesses and Assets 9,213 0 106,946
Capital Expenditures (6,034) (7,459) (12,083)
Other Investing Activities 0 1,662 (1,326)
Cash Flows from Investing Activities 3,179 (5,797) 64,630
Cash Flows from Financing Activities      
Proceeds from Long-term Debt 20,000 155,000 117,000
Principal Payments on Long-term Debt (30,000) (170,228) (156,107)
Purchase of Outstanding Shares for Treasury 0 (7,732) (50,784)
Debt Acquisition Costs 0 (360) 0
Stock Award and Employee Stock Purchase Plan (“ESPP”) activity 3,396 666 (545)
Finance Lease Principal Payments (901) (1,922) (1,746)
Cash Flows From Financing Activities (7,505) (24,576) (92,182)
Effect of Exchange Rates on Cash (799) 1,544 147
(Decrease) Increase in Cash and Cash Equivalents (10,655) 8,506 15,284
Cash and Cash Equivalents at Beginning of Year 40,412 31,906 16,622
Cash and Cash Equivalents at End of Year 29,757 40,412 31,906
Supplemental Cash Flow Information:      
Interest Paid 5,951 5,829 5,707
Income Taxes (Refunded) Paid, Net of Refunds $ (1,250) $ (1,536) $ 27,343