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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net earnings $ 28,986 $ 22,710
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 13,668 13,646
Stock compensation expense 4,750 4,770
Deferred income taxes (302) (203)
Provision for doubtful accounts 223 31
Unrealized gain on foreign currency transactions and deferred compensation (726) (349)
Gain on disposal of assets (144) (968)
Change in fair value of contingent consideration liability 0 1,600
Changes in assets and liabilities    
Accounts receivable (15,010) 403
Inventories (1,458) (5,145)
Prepaid expenses and other current assets 564 (2,747)
Accounts payable and accrued expenses (4,584) (5,112)
Income taxes 6,929 5,540
Other 492 662
Net cash provided by operating activities 33,388 34,838
Cash flows from investing activities:    
Capital expenditures and intangible assets acquired (6,910) (9,664)
Cash paid for acquisitions, net of cash acquired 0 (341)
Proceeds from sale of assets 213 0
Investment in affiliates (42) (56)
Net cash used in investing activities (6,739) (10,061)
Cash flows from financing activities:    
Proceeds from revolving loan 26,000 13,000
Principal payments on revolving loan (34,000) (22,000)
Principal payments on finance lease (57) (55)
Proceeds from stock options exercised 8,791 2,453
Dividends paid (25,555) (22,867)
Repurchases of common stock (5,202) (3,849)
Net cash used in financing activities (30,023) (33,318)
Effect of exchange rate changes on cash (724) 2,180
Decrease in cash and cash equivalents (4,098) (6,361)
Cash and cash equivalents beginning of period 64,447 66,560
Cash and cash equivalents end of period $ 60,349 $ 60,199