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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities    
Net income available to common stockholders $ 79,058 $ 66,267
(Loss) income from discontinued operations 0 1,544
Income from continuing operations 79,058 64,723
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 19,192 23,958
Stock compensation expense 5,889 6,769
Exit activity costs, non-cash 1,427 1,193
Provision for (benefit of) deferred income taxes 181 (689)
Other, net 3,620 1,274
Changes in operating assets and liabilities, excluding the effects of acquisitions:    
Accounts receivable (25,538) (65,297)
Inventories (19,840) (65,906)
Other current assets and other assets 393 (316)
Accounts payable (24,756) 32,029
Accrued expenses and other non-current liabilities (1,065) (12,261)
Net cash provided by (used in) operating activities of continuing operations 38,561 (14,523)
Net cash used in operating activities of discontinued operations 0 (2,002)
Net cash provided by (used in) operating activities 38,561 (16,525)
Cash Flows from Investing Activities    
Purchases of property, plant, and equipment (15,704) (13,251)
Acquisitions, net of cash acquired (51,621) 4,143
Net proceeds from sale of business 0 38,062
Net cash (used in) provided by investing activities of continuing operations (67,325) 28,954
Net cash used in investing activities of discontinued operations 0 (176)
Net cash (used in) provided by investing activities (67,325) 28,778
Cash Flows from Financing Activities    
Proceeds from long-term debt 197,800 58,500
Long-term debt payments (100,000) (83,636)
Purchase of common stock at market prices (58,125) (6,161)
Net proceeds from issuance of common stock 0 1,021
Net cash provided by (used in) financing activities 39,675 (30,276)
Effect of exchange rate changes on cash (1,841) (97)
Net increase (decrease) in cash and cash equivalents 9,070 (18,120)
Cash and cash equivalents at beginning of year 12,849 32,054
Cash and cash equivalents at end of period $ 21,919 $ 13,934