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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net earnings $ 49,192 $ 73,831 $ 52,689
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 16,457 13,312 14,863
Stock-based compensation 3,740 3,486 2,382
Amortization of deferred financing costs 151 33 34
Deferred income taxes (6,267) (3,872) (4,594)
Unrealized losses (gains) on foreign currency revaluation 1,456 1,356 (278)
Gains on sale/disposal of property, plant and equipment 0 (2,117) (1,596)
Gain on sale of Czech Republic business 0 (980) 0
Other, net 2,345 (1,037) 1,195
Changes in operating assets and liabilities:      
Accounts receivable (6,817) 22,500 (20,702)
Unbilled receivables 7,800 5,451 10,031
Inventories 15,121 33,613 (36,592)
Other current assets (2,357) (217) (1,210)
Other assets 5,972 2,971 7,000
Accounts payable 139 (22,745) 1,522
Accrued expenses (7,068) 5,356 10,933
Accrued restructuring costs 215 (1,228) 6,784
Other liabilities (5,006) (16,388) (4,162)
Income taxes payable (1,009) (4,976) 1,958
Net cash provided by operating activities 74,064 108,349 40,257
Cash flows from investing activities:      
Purchase of property, plant and equipment (14,108) (12,126) (8,832)
Purchases of held to maturity U.S. Treasury securities (131,309) (59,992) 0
Proceeds from held to maturity securities 167,907 19,918 0
Payment for equity method investment 0 (10,282) 0
Investment in related party notes receivable (785) (2,152) 0
Proceeds from disposal/sale of property, plant and equipment 883 6,036 1,833
Acquisition of business, net of cash acquired (320,481) 0 0
Proceeds from sale of business 0 5,063 0
Net cash used in investing activities (297,893) (53,535) (6,999)
Cash flows from financing activities:      
Dividends paid to common shareholders (3,453) (3,492) (3,413)
Purchase of treasury stock (16,053) (105) (349)
Deferred financing costs (1,736) 0 0
Borrowings under revolving line of credit 242,500 5,000 0
Repayments under revolving line of credit (15,000) (40,000) (17,500)
Net cash provided by (used in) financing activities 206,258 (38,597) (21,262)
Effect of exchange rate changes on cash (3,547) 2,888 (3,486)
Net (decrease) increase in cash and cash equivalents (21,118) 19,105 8,510
Cash and cash equivalents - beginning of year 89,371 70,266 61,756
Cash and cash equivalents - end of year 68,253 89,371 70,266
Supplemental cash flow information:      
Income taxes, net of refunds received 22,952 25,056 14,618
Interest payments 5,795 4,729 3,371
Redeemable noncontrolling interest assumed in exchange for acquired net assets 72,354 0 0
ROU assets obtained in exchange for lease obligations $ 6,870 $ 5,999 $ 8,052