Quarterly report pursuant to Section 13 or 15(d)

Cash Flow Statement

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Cash Flow Statement
 3 Months Ended
Jun. 30, 2014
Supplemental Cash Flow Elements [Abstract]  
Cash Flow Statement

 

NOTE 9 – CASH FLOW STATEMENT:

 

Interest paid was $3 in each of the three months ended June 30, 2014 and 2013. Income taxes refunded for the three months ended June 30, 2014 and 2013 were $29 and $61, respectively.

During the three months ended June 30, 2014 and 2013, respectively, stock option awards were exercised and restricted stock awards vested. In connection with such stock option exercises and vesting, the related income tax benefit realized exceeded the tax benefit that had been recorded pertaining to the compensation cost recognized by $34 and $61, respectively, for such periods. This excess tax benefit has been separately reported under “Financing activities” in the Condensed Consolidated Statements of Cash Flows.

At June 30, 2014 and 2013, respectively, there were $61 and $10 of capital purchases that were recorded in accounts payable and are not included in the caption “Purchase of property, plant and equipment” in the Condensed Consolidated Statements of Cash Flows.