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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From Operating Activities      
Net income $ 48,867 $ 60,267 $ 33,538
Adjustments to reconcile net income to net cash provided by (used for) operating activities      
Depreciation and amortization 22,786 21,216 20,422
Amortization of deferred financing costs 313 441 463
Non-cash stock-based compensation expense 6,671 7,436 3,196
(Gain) loss on disposal of fixed assets (195) (667) (1,382)
Deferred taxes 1,039 2,072 2,826
Other 944 1,520 (1,403)
Cash flows provided by (used for) working capital      
Accounts receivable - trade and other, net 2,656 (23,625) (15,273)
Inventories 2,630 7,955 (24,885)
Prepaid expenses and other current assets 151 (1,409) (676)
Accounts payable and accrued expenses 310 (2,585) 28,088
Net cash provided by (used for) operating activities 86,172 72,621 44,914
Cash Flows From Investing Activities      
Capital expenditures (22,855) (24,292) (17,867)
Acquisition of business, net of cash acquired (160) (27,626) (35,758)
Proceeds from sale of property, plant and equipment 258 1,537 3,336
Net cash provided by (used for) investing activities (22,757) (50,381) (50,289)
Cash Flows From Financing Activities      
Borrowings on revolving credit facility 740,000 1,264,200 886,600
Repayments on revolving credit facility (776,000) (1,261,200) (833,600)
Repayments of long-term debt 0 0 (40,000)
Payments on finance lease (542) (500) (402)
Cash dividends paid (20,240) (19,797) (19,596)
Proceeds from issuance of common stock 2,338 2,320 3,793
Shares withheld for employee taxes on equity awards (2,072) (451) (888)
Deferred financing fees 0 (889) (1,095)
Net cash provided by (used for) financing activities (56,516) (16,317) (5,188)
Foreign exchange rate effect on cash 252 (439) (83)
Net increase (decrease) in cash 7,151 5,484 (10,646)
Cash at January 1 23,139 17,655 28,301
Cash at December 31 30,290 23,139 17,655
Supplemental Disclosures of Cash Flow Information      
Interest 5,980 4,574 4,279
Income taxes $ 13,451 $ 13,023 $ 10,936