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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash provided by (used in) Operating activities    
Net earnings $ 187,774 $ 147,021
Items not affecting cash:    
Depreciation and amortization 165,269 127,934
Deferred income tax (13,986) (19,049)
Contingent acquisition consideration fair value adjustments (20,023) 16,366
Stock-based compensation 25,311 21,385
Gain on sale of building asset 0 (4,351)
Other 517 1,016
Changes in non-cash working capital:    
Accounts receivable (42,306) (93,822)
Inventories (19,414) 22,240
Prepaid expenses and other current assets (15,026) (4,840)
Accounts payable 14,216 (17,063)
Accrued liabilities 2,096 25,910
Income tax payable 6,290 10,815
Unearned revenues (9,127) 39,956
Other liabilities 23,438 11,176
Contingent acquisition consideration paid (19,355) (4,334)
Net cash provided by operating activities 285,674 280,360
Investing activities    
Acquisitions of businesses, net of cash acquired (note 4) (212,246) (547,182)
Disposal of building asset (note 6) 0 7,350
Purchases of fixed assets (112,798) (92,734)
Other investing activities 1,342 (13,763)
Net cash used in investing activities (323,702) (646,329)
Financing activities    
Proceeds from long-term debt 367,000 587,847
Repayment of long-term debt (263,423) (141,000)
Purchases of non-controlling interests (26,090) (5,310)
Sale of interests in subsidiaries to non-controlling interests 1,736 1,025
Contingent acquisition consideration paid (10,049) (15,802)
Proceeds received on exercise of stock options 58,354 33,616
Dividends paid to common shareholders (43,828) (39,055)
Distributions paid to non-controlling interests (9,292) (7,376)
Net cash provided by financing activities 74,408 413,945
Effect of exchange rate changes on cash 429 (447)
Increase in cash, cash equivalents and restricted cash 36,809 47,529
Cash, cash equivalents and restricted cash, beginning of year 206,877 159,348
Cash, cash equivalents and restricted cash, end of year $ 243,686 $ 206,877