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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Net sales:      
Total net sales $ 1,513,616 $ 1,334,223 $ 1,163,466
Cost of sales 1,137,098 999,709 869,736
Gross profit 376,518 334,514 293,730
Selling, general and administrative expenses 212,649 202,939 184,199
Amortization expense 15,277 14,637 14,746
Income from operations 148,592 116,938 94,785
Interest expense (14,361) (10,533) (15,837)
Interest income 752 1,149 1,366
Other income (673) 1,944 (557)
Income before income taxes 134,310 109,498 79,757
Provision for income taxes 32,382 29,253 21,953
Net income $ 101,928 $ 80,245 $ 57,804
Net income per common share:      
Basic (in dollars per share) $ 8.58 $ 6.78 $ 4.91
Diluted (in dollars per share) $ 8.54 $ 6.75 $ 4.88
Average common shares:      
Basic (in shares) 11,877 11,837 11,782
Diluted (in shares) 11,934 11,896 11,845
Vegetation Management      
Net sales:      
Total net sales $ 937,065 $ 812,676 $ 654,630
Income from operations 108,508 78,917 46,651
Industrial Equipment      
Net sales:      
Total net sales 576,551 521,547 508,836
Income from operations $ 40,084 $ 38,021 $ 48,134