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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash Flows from Operating Activities    
Net income available to common stockholders $ 57,144 $ 51,822
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,416 13,665
Stock compensation expense 6,358 5,056
Exit activity costs (recoveries), non-cash 163 (23)
Provision for deferred income taxes 0 179
Other, net 2,347 2,680
Changes in operating assets and liabilities net of effects from acquisitions:    
Accounts receivable (33,828) (54,979)
Inventories (13,794) 12,130
Other current assets and other assets (3,791) 4,069
Accounts payable 48,518 48,327
Accrued expenses and other non-current liabilities 13,120 31,168
Net cash provided by operating activities 89,653 114,094
Cash Flows from Investing Activities    
Purchases of property, plant, and equipment, net (8,707) (5,284)
Acquisitions, net of cash acquired 0 554
Net proceeds from sale of business 350 0
Net cash used in investing activities (8,357) (4,730)
Cash Flows from Financing Activities    
Proceeds from long-term debt 0 40,800
Long-term debt payments 0 (120,000)
Purchase of common stock at market prices (1,447) (28,770)
Net cash used in financing activities (1,447) (107,970)
Effect of exchange rate changes on cash (173) (381)
Net increase in cash and cash equivalents 79,676 1,013
Cash and cash equivalents at beginning of year 99,426 17,608
Cash and cash equivalents at end of period $ 179,102 $ 18,621