XML 48 R7.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net income $ 135,056 $ 138,401 $ 142,897
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 170,212 166,545 144,543
Amortization of deferred debt financing costs 3,268 3,270 3,239
Stock-based compensation expense 19,066 16,775 19,429
Deferred income taxes 35,529 (6,481) (591)
Loss (gain) on sale of property, plant and equipment 2,143 (237) 585
Loss on extinguishment of debt 0 2,549 0
Other (2,972) 376 (325)
Change in operating assets and liabilities, net of business acquisitions:      
Trade and other receivables, net 1,808 10,847 8,923
Inventories (24,959) (1,863) 162,181
Prepaid expenses and other assets (8,761) (7,609) (3,931)
Accounts payable, accrued liabilities and other (976) 4,268 (68,278)
Net cash provided by operating activities 329,414 326,841 408,672
Cash flows from investing activities      
Purchases of property, plant, and equipment (82,921) (75,682) (58,987)
Proceeds from sale of property, plant, and equipment 2,755 2,411 1,362
Business acquisitions, net of cash acquired (121,740) (411,747) (25,859)
Purchase of intangible assets and other investing activities (4,580) (27,831) (3,061)
Net cash used in investing activities (206,486) (512,849) (86,545)
Cash flows from financing activities      
Term debt borrowings 0 125,000 0
Term debt repayments (6,250) (130,938) (7,500)
Borrowing on revolver 744,426 1,320,385 488,440
Repayments on revolver (769,426) (1,220,385) (568,728)
Repayment of convertible notes 0 0 (172,500)
Proceeds from senior notes offering 0 500,000 0
Repayment of senior notes 0 (300,000) 0
Cash dividends paid to shareholders (55,274) (50,187) (42,140)
Stock repurchases under buyback program (31,969) (4,661) (18,808)
Taxes paid for share-based payment arrangements (10,932) (17,334) (12,132)
Payment of deferred financing costs 0 (9,212) 0
Payment of contingent consideration from business acquisitions (48) (4,652) (1,460)
Proceeds from exercise of common stock options 0 21 1,413
Other financing activities (584) 123 (150)
Net cash (used in) provided by financing activities (130,057) 208,160 (333,565)
Net (decrease) increase in cash and cash equivalents (7,129) 22,152 (11,438)
Cash and cash equivalents at beginning of year 33,561 11,409 22,847
Cash and cash equivalents at end of year $ 26,432 $ 33,561 $ 11,409