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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows from Operating Activities      
Net income $ 110,533 $ 82,406 $ 75,629
Income from discontinued operations 0 0 1,113
Income from continuing operations 110,533 82,406 74,516
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 27,378 26,167 31,966
Intangible asset impairment 3,797 0 8,300
Stock compensation expense 9,750 8,334 8,652
Exit activity costs, non-cash 2,771 16,266 1,193
Provision for deferred income taxes 10,800 6,337 2,968
Other, net 12,492 1,506 1,570
Changes in operating assets and liabilities net of effects from acquisitions:      
Accounts receivable (15,375) 32,754 (41,887)
Inventories 45,908 14,377 (85,763)
Other current assets and other assets 514 2,062 (426)
Accounts payable (14,387) (76,260) 38,367
Accrued expenses and other non-current liabilities 24,295 (11,258) (14,384)
Net cash provided by operating activities of continuing operations 218,476 102,691 25,072
Net cash used in operating activities of discontinued operations 0 0 (2,002)
Net cash provided by operating activities 218,476 102,691 23,070
Cash Flows from Investing Activities      
Purchases of property, plant, and equipment, net (13,906) (20,062) (17,491)
Acquisitions, net of cash acquired (9,863) (51,621) 4,143
Net proceeds from sale of business 8,047 0 38,062
Net cash (used in) provided by investing activities of continuing operations (15,722) (71,683) 24,714
Net cash used in investing activities of discontinued operations 0 0 (176)
Net cash (used in) provided by investing activities (15,722) (71,683) 24,538
Cash Flows from Financing Activities      
Long-term debt payments (141,000) (138,000) (120,636)
Proceeds from long-term debt 50,000 204,500 59,500
Payment of debt issuance costs 0 (2,013) 0
Purchase of common stock at market prices (29,329) (89,494) (6,497)
Net proceeds from issuance of common stock 0 0 1,021
Net cash used in financing activities (120,329) (25,007) (66,612)
Effect of exchange rate changes on cash (607) (1,242) (201)
Net increase (decrease) in cash and cash equivalents 81,818 4,759 (19,205)
Cash and cash equivalents at beginning of year 17,608 12,849 32,054
Cash and cash equivalents at end of year $ 99,426 $ 17,608 $ 12,849