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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 14,002 $ 12,360
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 9,054 8,320
Amortization 2,540 2,780
Stock-based compensation expense 2,176 4,790
Provision for doubtful accounts 390 0
Deferred income taxes (1,847) (1,010)
Loss on the sale of property, plant and equipment 15 11
Changes in operating assets and liabilities    
Accounts receivable 30,960 30,398
Contract assets (5,835) (10,521)
Inventories 45,222 (49,864)
Prepaid expenses and other assets (2,957) (3,712)
Accounts payable (20,259) 15,375
Advance payments from customers (15,730) (12,129)
Accrued liabilities (11,833) (21,348)
Operating leases 121 9
Income taxes 2,438 (365)
Net cash provided by (used in) operating activities 48,457 (24,906)
Cash flows from investing activities:    
Additions to property, plant and equipment (5,183) (35,926)
Additions to capitalized purchased software (720) (2,805)
Proceeds from the sale of property, plant and equipment 0 19
Other, net (251) 0
Net cash used in investing activities (6,154) (38,712)
Cash flows from financing activities:    
Borrowings under credit agreement 175,000 230,000
Principal payments on credit agreement (190,820) (151,641)
Dividends paid (5,889) (5,806)
Employee taxes paid for with shares withheld (5,758) (5,554)
Proceeds from stock options exercised 371 68
Principal payments on finance leases (45) (43)
Net cash (used in) provided by financing activities (27,141) 67,024
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2,320) 854
Net increase in cash, cash equivalents and restricted cash 12,842 4,260
Cash, cash equivalents and restricted cash at the beginning of the year 283,213 207,430
Cash, cash equivalents and restricted cash at the end of the period $ 296,055 $ 211,690