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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 $ 37,537 $ 24,135
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 6,971 6,361
(Gain) Loss on disposal of property, plant and equipment (7) 1
Provision for credit losses 106 90
Issuance of common stock, net of shares withheld for employee taxes (198) 123
Stock-based compensation 1,685 231
Deferred tax provision 85 (44)
Changes in operating assets and liabilities:    
Accounts receivable (105,873) (84,227)
Inventories 2,022 (9,407)
Prepaid expenses (3,482) (1,714)
Other assets 237 198
Accounts payable 51,533 62,508
Accrued liabilities 8,726 4,655
Income taxes payable (1,049)  
Net cash flows provided by (used in) operating activities (1,707) 2,910
Cash flows from investing activities:    
Purchases of property, plant and equipment (7,794) (6,610)
Proceeds from sale of property, plant and equipment 77 239
Acquisition of business 24  
Acquisition of business   (17,802)
Net cash flows provided by (used in) investing activities (7,693) (24,173)
Cash flows from financing activities:    
Repurchase of common stock (2,047)  
Net borrowings under credit facility 10,000 15,000
Payments of cash dividends (4,372) (4,119)
Net cash flows provided by (used in) financing activities 3,581 10,881
EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND TEMPORARY INVESTMENTS (274) 731
NET CHANGE IN CASH AND TEMPORARY INVESTMENTS (6,093) (9,651)
CASH AND TEMPORARY INVESTMENTS, beginning of period 29,909 40,153
CASH AND TEMPORARY INVESTMENTS, end of period 23,816 30,502
Supplemental information:    
Cash payments for interest 4,890 3,473
Cash payments for income taxes, net of refunds $ 11,212 $ 8,268