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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities    
Net income available to common stockholders $ 91,099 $ 79,058
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 20,574 19,192
Stock compensation expense 7,257 5,889
Exit activity costs, non-cash 572 1,427
Provision for deferred income taxes 179 181
Other, net 2,945 3,620
Changes in operating assets and liabilities net of effects from acquisitions:    
Accounts receivable (44,331) (25,538)
Inventories 30,431 (19,840)
Other current assets and other assets (1,426) 393
Accounts payable 53,198 (24,756)
Accrued expenses and other non-current liabilities 46,158 (1,065)
Net cash provided by operating activities 206,656 38,561
Cash Flows from Investing Activities    
Purchases of property, plant, and equipment, net (7,976) (15,704)
Acquisitions, net of cash acquired (9,863) (51,621)
Net cash used in investing activities (17,839) (67,325)
Cash Flows from Financing Activities    
Proceeds from long-term debt 50,000 197,800
Long-term debt payments (141,000) (100,000)
Purchase of common stock at market prices (29,182) (58,125)
Net cash (used in) provided by financing activities (120,182) 39,675
Effect of exchange rate changes on cash (778) (1,841)
Net increase in cash and cash equivalents 67,857 9,070
Cash and cash equivalents at beginning of year 17,608 12,849
Cash and cash equivalents at end of period $ 85,465 $ 21,919