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, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 13,656 $ 9,800 $ 17,609
Adjustments to reconcile net income to net cash provided by operating activities:      
Write-off of cumulative translation adjustments 0 4,135 0
Impairment of Venezuela property, plant and equipment, net 0 2,947 0
Provision for doubtful accounts 21 (121) 535
Depreciation and amortization 4,525 4,409 4,466
Share-based compensation expense 4,485 3,948 3,389
Tax benefit from stock option exercise 0 (307) (653)
(Gain) loss on sale of property and equipment (2,703) 132 (128)
Deferred income taxes (3,373) (3,927) 1,092
Amortization of bond discount 0 3 1
Purchase of trading investment securities (252) (162) (88)
Proceeds from sale of trading investment securities 239 151 510
Realized and unrealized gains on investments (470) (56) (122)
Foreign exchange losses (gains) 1,948 (225) (1,254)
Changes in assets and liabilities:      
Accounts receivable (1,091) 3,457 (1,358)
Inventories 933 748 838
Prepaid expenses and other 636 3,411 (5,728)
Other assets (4,010) (1,235) (303)
Accounts payable 593 (359) (552)
Accrued volume incentives (1,427) (1,905) 1,286
Accrued liabilities (3,451) (5,360) 7,379
Deferred revenue (557) 544 (138)
Income taxes payable (914) 25 1,071
Liability related to unrecognized tax positions 1,368 (5,804) 1,831
Deferred compensation payable 6 (67) (305)
Net cash provided by operating activities 10,162 14,182 29,378
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of property, plant and equipment (22,527) (26,285) (8,570)
Proceeds from sale of property, plant and equipment 3,128 85 248
Purchases of investments available for sale (3) (721) (442)
Proceeds from sale/maturities of investments available for sale 810 247 200
Net cash used in investing activities (18,592) (26,674) (8,564)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payments of cash dividends (7,490) (35,228) (30,419)
Borrowings on long-term debt 0 0 10,000
Net borrowings on revolving credit facility 2,696 0 0
Principal payments of long-term debt 0 (12,267) (3,353)
Net proceeds from the issuance of shares to noncontrolling interests 0 44,795 0
Investment by noncontrolling interests 0 4,000 0
Investment by noncontrolling interests 3,861 772 4,334
Tax benefit from stock option exercise 0 307 653
Repurchase of common stock (6,645) (7,455) (2,546)
Net cash used in financing activities (7,578) (5,076) (21,331)
Effect of exchange rates on cash and cash equivalents (1,271) (980) (1,477)
Net decrease in cash and cash equivalents (17,279) (18,548) (1,994)
Cash and cash equivalents at beginning of the year 58,699 77,247 79,241
Cash and cash equivalents at end of the year 41,420 58,699 77,247
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 9,782 6,450 10,278
Cash paid for interest 56 171 128
Supplemental disclosure of noncash investing and financing activities:      
Purchases of property, plant and equipment included in accounts payable and accrued liabilities $ 1,081 $ 780 $ 155