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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net earnings $ 28,930 $ 23,411
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 11,928 12,364
Stock compensation expense 3,077 2,622
Provision for doubtful accounts 328 69
Unrealized loss (gain) on foreign currency transactions and deferred compensation 37 (229)
Gain on disposal of assets (29) (1)
Changes in assets and liabilities    
Accounts receivable (20,405) (9,610)
Inventories (17,598) (6,702)
Prepaid expenses and other current assets 487 1,000
Accounts payable and accrued expenses (7,708) 10,344
Income taxes 8,522 7,043
Other (548) 296
Net cash provided by operating activities 7,021 40,607
Cash flows from investing activities:    
Capital expenditures and intangible assets acquired (10,256) (6,312)
Proceeds from sale of assets 184 86
Net cash used in investing activities (10,072) (6,226)
Cash flows from financing activities:    
Proceeds from revolving loan 20,000 5,000
Principal payments on revolving loan 0 (15,000)
Principal payments on finance lease (41) (39)
Proceeds from stock options exercised 498 2,402
Dividends paid (20,703) (18,700)
Repurchase of common stock (34,599) (1,596)
Net cash used in financing activities (34,845) (27,933)
Effect of exchange rate changes on cash (877) (2,484)
(Decrease) increase in cash and cash equivalents (38,773) 3,964
Cash and cash equivalents beginning of period 103,239 84,571
Cash and cash equivalents end of period $ 64,466 $ 88,535