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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 (Loss) $ 64,315 $ 68,229 $ 35,770
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation 34,368 33,339 35,003
Amortization 11,042 10,913 9,149
Provision for doubtful accounts 1,321 489 0
Deferred income taxes (14,992) (7,248) (6,883)
Asset impairments 1,075 0 4,357
(Gain) loss on the sale of property, plant and equipment (101) (289) 148
Gain on assets held for sale 0 (393) 0
Stock-based compensation expense 15,286 18,485 15,262
Changes in operating assets and liabilities:      
Accounts receivable 42,050 (136,455) (46,967)
Contract assets 8,634 (28,370) (12,464)
Inventories 45,071 (206,247) (197,867)
Prepaid expenses and other assets (4,648) (6,467) (12,201)
Accounts payable (35,320) (16,656) 139,952
Advance payments from customers 6,946 79,813 34,002
Accrued liabilities (13,093) 6,303 (508)
Operating leases (2,414) (441) 167
Income taxes 9,926 6,646 792
Net cash provided by (used in) operating activities 174,294 (177,467) (2,622)
Cash flows from investing activities:      
Additions to property, plant and equipment (73,479) (43,357) (38,794)
Additions to capitalized purchased software (4,260) (3,417) (3,383)
Proceeds from the sale of property, plant and equipment 649 321 239
Proceeds from the sale of assets held for sale 0 5,372 0
Other, net (48) (93) 63
Net cash used in investing activities (77,138) (41,174) (41,875)
Cash flows from financing activities:      
Borrowings under credit agreement 749,500 828,000 150,000
Principal payments on credit agreement (743,602) (633,000) (155,625)
Dividends paid (23,455) (23,156) (23,260)
Employee taxes paid with shares withheld (5,761) (3,201) (3,174)
Proceeds from stock options exercised 129 716 346
Debt issuance costs (216) (574) (1,150)
Principal payments on finance leases (173) (165) (873)
Share repurchases 0 (9,391) (40,216)
Net cash provided by (used in) financing activities (23,578) 159,229 (73,952)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,205 (4,907) (5,792)
Net increase (decrease) in cash, cash equivalents and restricted cash 75,783 (64,319) (124,241)
Cash, cash equivalents and restricted cash at the beginning of the year 207,430 271,749 395,990
Cash, cash equivalents and restricted cash at the end of the year $ 283,213 $ 207,430 $ 271,749