XML 14 R7.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 3,644 $ 14,002
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 9,162 9,054
Amortization 2,606 2,540
Stock-based compensation expense 4,397 2,176
Provision for doubtful accounts 0 390
Deferred income taxes (1,594) (1,847)
Loss on the sale of property, plant and equipment 132 15
Changes in operating assets and liabilities:    
Accounts receivable 39,870 30,960
Contract assets (4,410) (5,835)
Inventories (5,182) 45,222
Prepaid expenses and other assets (613) (2,957)
Accounts payable 24,194 (20,259)
Advance payments from customers (15,755) (15,730)
Accrued liabilities (26,254) (11,833)
Operating leases 644 121
Income taxes 662 2,438
Net cash provided by operating activities 31,503 48,457
Cash flows from investing activities:    
Additions to property, plant and equipment (3,395) (5,183)
Additions to capitalized purchased software (761) (720)
Proceeds from the disposal of property, plant and equipment 50 0
Other, net 0 (251)
Net cash used in investing activities (4,106) (6,154)
Cash flows from financing activities:    
Borrowings under credit agreement 175,000 175,000
Principal payments on credit agreement (156,641) (190,820)
Dividends paid (6,119) (5,889)
Employee taxes paid with shares withheld (6,670) (5,758)
Proceeds from stock options exercised 4 371
Principal payments on finance leases (47) (45)
Share repurchases (7,996) 0
Net cash used in financing activities (2,469) (27,141)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 2,385 (2,320)
Net increase in cash, cash equivalents and restricted cash 27,313 12,842
Cash, cash equivalents and restricted cash at the beginning of the year 328,027 283,213
Cash, cash equivalents and restricted cash at the end of the period 355,340 296,055
Supplemental cash flow information:    
Income taxes paid, net 5,680 4,470
Interest paid 5,030 7,399
Property, Plant and Equipment [Member]    
Non-cash investing activities:    
Unpaid purchases at the end of the period 10,371 1,714
Capitalized Purchased Software Costs [Member]    
Non-cash investing activities:    
Unpaid purchases at the end of the period $ 526 $ 1,320