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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities    
Net income available to common stockholders $ 24,946 $ 21,099
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,663 6,834
Stock compensation expense 2,639 1,594
Exit activity recoveries, non-cash (72) (63)
Provision for (benefit of) deferred income taxes 0 (51)
Other, net 1,691 1,023
Changes in operating assets and liabilities net of effects from acquisitions:    
Accounts receivable (6,950) (18,004)
Inventories (17,231) (1,586)
Other current assets and other assets 453 2,536
Accounts payable 35,455 23,077
Accrued expenses and other non-current liabilities 5,587 1,586
Net cash provided by operating activities 53,181 38,045
Cash Flows from Investing Activities    
Purchases of property, plant, and equipment, net (4,366) (2,190)
Acquisitions, net of cash acquired 0 554
Net cash used in investing activities (4,366) (1,636)
Cash Flows from Financing Activities    
Proceeds from long-term debt 0 11,000
Long-term debt payments 0 (50,000)
Purchase of common stock at market prices (1,434) (7,509)
Net cash used in financing activities (1,434) (46,509)
Effect of exchange rate changes on cash (142) (11)
Net increase (decrease) in cash and cash equivalents 47,239 (10,111)
Cash and cash equivalents at beginning of year 99,426 17,608
Cash and cash equivalents at end of period $ 146,665 $ 7,497