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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net income $ 88,216 $ 77,884
Adjustments to reconcile net income to net cash provided by operating activities:    
Net gain on disposal of assets 53 (76)
Depreciation and amortization 25,742 19,193
Noncash lease expense 4,909 4,247
Loss in equity method investment, before tax 946 141
Deferred income taxes 2,623 (1,256)
Noncash compensation related to stock plans and other changes in the fair value of DCP 5,063 6,598
Provision for credit losses (1,085) 254
Deferred hedge gain (2,703) (897)
Changes in operating assets and liabilities    
Trade accounts receivable (98,824) (85,384)
Inventories 39,976 (18,484)
Trade accounts payable 17,509 18,224
Other current assets (1,684) (4,807)
Accrued liabilities and other current liabilities (37,514) (5,100)
Other noncurrent assets and liabilities (7,680) (2,974)
Net cash provided by operating activities 35,547 7,563
Cash flows from investing activities    
Capital expenditures (17,632) (50,165)
Purchases of equity investments (1,819) (187)
Proceeds from sale of property and equipment 402 250
Net cash used in investing activities (19,049) (50,102)
Cash flows from financing activities    
Repurchase of common stock (50,000) (25,000)
Issuance of common stock 3,050 3,526
Proceeds from line of credits 0 1,768
Repayments of line of credit and term loan (3,750) (6,815)
Dividends paid (11,977) (11,735)
Cash paid on behalf of employees for shares withheld (6,275) (4,576)
Net cash used in financing activities (68,952) (42,832)
Effect of exchange rate changes on cash and cash equivalents 9,321 (3,710)
Net decrease in cash and cash equivalents (43,133) (89,081)
Cash and cash equivalents at beginning of period 384,138 239,371
Cash and cash equivalents at end of period 341,005 150,290
Noncash activity during the period    
Noncash capital expenditures 1,957 9,081
Dividends declared but not paid 0 11,758
Issuance of Company’s common stock for compensation $ 3,050 $ 3,526