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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash Flows from Operating Activities      
Net income $ 82,406 $ 75,629 $ 64,566
Income (loss) from discontinued operations 0 1,113 (18,725)
Income from continuing operations 82,406 74,516 83,291
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 26,167 31,966 20,915
Intangible asset impairment 0 8,300 0
Held for sale valuation allowance 13,990 0 0
Stock compensation expense 8,334 8,652 8,173
Exit activity costs, non-cash 2,276 1,193 493
Provision for deferred income taxes 6,337 2,968 3,786
Other, net 1,506 1,570 63
Changes in operating assets and liabilities (excluding the effects of acquisitions):      
Accounts receivable 32,754 (41,887) 2,277
Inventories 14,377 (85,763) (5,719)
Other current assets and other assets 2,062 (426) 5,467
Accounts payable (76,260) 38,367 (1,160)
Accrued expenses and other non-current liabilities (11,258) (14,384) (44,570)
Net cash provided by operating activities of continuing operations 102,691 25,072 73,016
Net cash (used in) provided by operating activities of discontinued operations 0 (2,002) 16,088
Net cash provided by operating activities 102,691 23,070 89,104
Cash Flows from Investing Activities      
Purchases of property, plant, and equipment, net (20,062) (17,491) (12,991)
Acquisitions, net of cash acquired (51,621) 4,143 (313,686)
Net proceeds from sale of business 0 38,062 2,000
Net cash (used in) provided by investing activities of continuing operations (71,683) 24,714 (324,677)
Net cash used in investing activities of discontinued operations 0 (176) (2,033)
Net cash (used in) provided by investing activities (71,683) 24,538 (326,710)
Cash Flows from Financing Activities      
Long-term debt payments (138,000) (120,636) 0
Proceeds from long-term debt 204,500 59,500 85,000
Payment of debt issuance costs (2,013) 0 0
Purchase of common stock at market prices (89,494) (6,497) (6,656)
Net proceeds from issuance of common stock 0 1,021 1,119
Net cash (used in) provided by financing activities (25,007) (66,612) 79,463
Effect of exchange rate changes on cash (1,242) (201) (1,166)
Net increase (decrease) in cash and cash equivalents 4,759 (19,205) (159,309)
Cash and cash equivalents at beginning of year 12,849 32,054 191,363
Cash and cash equivalents at end of year $ 17,608 $ 12,849 $ 32,054