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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities    
Net income available to common stockholders $ 51,822 $ 44,763
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,665 12,677
Stock compensation expense 5,056 4,125
Exit activity (recoveries) costs, non-cash (23) 1,198
Provision for deferred income taxes 179 29
Other, net 2,680 2,666
Changes in operating assets and liabilities, excluding the effects of acquisitions:    
Accounts receivable (54,979) (40,473)
Inventories 12,130 (33,616)
Other current assets and other assets 4,069 (1,612)
Accounts payable 48,327 (10,501)
Accrued expenses and other non-current liabilities 31,168 21,288
Net cash provided by operating activities 114,094 544
Cash Flows from Investing Activities    
Purchases of property, plant, and equipment, net (5,284) (11,202)
Acquisitions, net of cash acquired 554 0
Net cash used in investing activities (4,730) (11,202)
Cash Flows from Financing Activities    
Proceeds from long-term debt 40,800 120,500
Long-term debt payments (120,000) (51,000)
Purchase of common stock at market prices (28,770) (53,468)
Net cash (used in) provided by financing activities (107,970) 16,032
Effect of exchange rate changes on cash (381) (1,074)
Net increase in cash and cash equivalents 1,013 4,300
Cash and cash equivalents at beginning of year 17,608 12,849
Cash and cash equivalents at end of period $ 18,621 $ 17,149