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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 86,272 $ 64,758
Adjustments to reconcile net income to net cash provided by operating activities:    
Allowance for credit losses 987 275
Depreciation and amortization 16,479 12,788
Deferred income taxes 2,002 1,456
Equity method income (2,286) (2,283)
Gain on disposal of assets (4,254)
Deferred cost of financing 556 640
Other non-cash adjustments 391 32
Unrealized currency translation loss (8,718) 741
Changes in operating assets and liabilities:    
Trade accounts receivable (20,376) (5,913)
Inventories (23,996) 14,395
Prepaid expenses (2,529) (1,743)
Other assets (3,248) 8,827
Trade accounts payable and accrued expenses 21,802 12,695
Taxes payable (18,513) (36,961)
Labor liabilities 87 (121)
Other liabilities 15 42
Contract assets and liabilities 21,387 (3,192)
Related parties (1,298) 1,509
CASH PROVIDED BY OPERATING ACTIVITIES 64,760 67,945
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of investments (73) (317)
Business acquisition (6,841)
Dividends received 8,914 2,703
Sale of property and equipment 12,312
Acquisition of property and equipment (62,939) (30,188)
CASH USED IN INVESTING ACTIVITIES (48,627) (27,802)
CASH FLOWS FROM FINANCING ACTIVITIES    
Cash dividend (14,095) (9,407)
Non-controlling interest purchase (2,500)
Stock buyback (339) (5)
Proceeds from debt 3,613 2,571
Repayments of debt (4,103) (30,986)
CASH USED IN FINANCING ACTIVITIES (14,924) (40,327)
Effect of exchange rate changes on cash and cash equivalents 1,816 (2,519)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 3,025 (2,703)
CASH AND CASH EQUIVALENTS - Beginning of period 134,882 129,508
CASH AND CASH EQUIVALENTS - End of period 137,907 126,805
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest 3,343 5,559
Income Tax 47,360 59,607
NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Assets acquired under credit or debt 7,663 4,572
Account payable for business acquisition $ 3,588