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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net earnings $ 94,892 $ 81,895
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 37,077 40,878
Stock compensation expense 12,787 12,267
Deferred income taxes (1,918) (2,422)
Provision for doubtful accounts 238 1
Unrealized gain on foreign currency transactions and deferred compensation (730) (778)
Asset impairment and loss on disposal of assets 1,479 6,858
Change in fair value of contingent consideration liability (91) (9,900)
Changes in assets and liabilities    
Accounts receivable 5,220 2,606
Inventories (8,738) 2,545
Prepaid expenses and other current assets 1,199 (2,703)
Accounts payable and accrued expenses (9,734) (6,429)
Income taxes (3,110) (7,742)
Other 1,111 (721)
Net cash provided by operating activities 129,682 116,355
Cash flows from investing activities:    
Capital expenditures and intangible assets acquired (22,936) (26,177)
Cash paid for acquisitions, net of cash acquired 0 (1,252)
Proceeds from sale of assets 272 1,881
Proceeds from settlement of net investment hedge 0 2,740
Investment in affiliates (113) (140)
Net cash used in investing activities (22,777) (22,948)
Cash flows from financing activities:    
Proceeds from revolving loan 26,000 18,000
Principal payments on revolving loan (108,569) (78,000)
Principal payments on finance lease (169) (166)
Proceeds from stock options exercised 15,084 3,888
Dividends paid (25,572) (22,872)
Repurchases of common stock (5,376) (4,025)
Net cash used in financing activities (98,602) (83,175)
Effect of exchange rate changes on cash 944 160
Increase in cash and cash equivalents 9,247 10,392
Cash and cash equivalents beginning of period 64,447 66,560
Cash and cash equivalents end of period $ 73,694 $ 76,952