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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Activities      
Net income $ 115,930 $ 136,161 $ 101,928
Adjustments to reconcile net income to cash provided by operating activities:      
Provision for doubtful accounts 1,718 253 424
Depreciation - PP&E 26,865 23,665 23,673
Depreciation - Rental 9,992 8,789 7,739
Amortization of intangibles 16,227 15,519 15,277
Amortization of debt issuance 703 703 667
Stock-based compensation expense 9,141 7,424 5,561
Provision for deferred income tax benefit (3,607) (4,253) (2,337)
Gain on sale of property, plant and equipment (639) (6,621) (161)
Changes in operating assets and liabilities, net of acquisitions:      
       Accounts receivable 47,012 (35,293) (85,055)
Inventories 26,494 (10,844) (37,739)
Rental equipment (23,830) (13,930) (9,196)
Prepaid expenses and other (2,608) (835) (6,146)
Trade accounts payable and accrued liabilities (15,673) 4,813 (2,879)
Income taxes payable 1,000 6,705 2,934
Long term tax payable (2,007) (1,147) (635)
Other assets and liabilities, net 3,060 45 475
Net cash provided by operating activities 209,778 131,154 14,530
Investing Activities      
Acquisitions, net of cash acquired 0 (27,560) (2,000)
Purchase of property, plant and equipment (24,993) (37,745) (31,141)
Proceeds from sale of property, plant and equipment 3,045 12,682 1,566
Purchase of patents (233) 0 (163)
Net cash used in investing activities (22,181) (52,623) (31,738)
Financing Activities      
Borrowings on bank revolving credit facility 195,000 183,000 222,000
Repayment on bank revolving credit facility (195,000) (235,000) (174,000)
Principal payments on long-term debt and capital leases (15,069) (14,948) (15,031)
Contingent consideration payment after acquisition (4,402) 0 0
Dividends paid (12,442) (10,485) (8,549)
Proceeds from exercise of stock options 1,912 1,586 803
Common stock repurchased (1,972) (1,034) (768)
Net cash (used in) provided by financing activities (31,973) (76,881) 24,455
Effect of exchange rate changes on cash (10,269) 3,253 (2,346)
Net change in cash and cash equivalents 145,355 4,903 4,901
Cash and cash equivalents at beginning of the year 51,919 47,016 42,115
Cash and cash equivalents at end of the year 197,274 51,919 47,016
Cash paid during the year for:      
Interest 20,787 25,358 14,575
Income taxes $ 40,426 $ 37,330 $ 35,102