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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 72,878 $ 74,051 $ 50,331
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 46,612 53,158 43,394
Provision for inventory excess and obsolescence 7,491 2,988 3,627
Impairment of operating lease assets 1,853    
Share-based compensation 25,588 23,108 25,606
Deferred income taxes (14,726) (18,654) (3,945)
Loss (gain) on disposal of fixed assets 148 (61) 65
Contingent consideration adjustments   (1,443) (99)
Inventory acquisition fair value adjustments   160 1,411
Write-off of unamortized deferred financing costs   624  
Non-cash interest expense 1,162 1,229 1,170
Other non-cash items 397 356 74
Changes in assets and liabilities which provided/(used) cash, excluding effects from business acquisitions:      
Accounts receivable (127) (23,246) (25,355)
Inventories 11,366 (48,547) (19,078)
Prepaid expenses and other current assets 709 (814) (3,117)
Prepaid income taxes, income taxes receivable and income taxes payable (12,349) 489 (140)
Accounts payable, accrued expenses and other current liabilities (20,453) 30,333 24,516
Other non-current assets and liabilities (474) (2,952) (3,835)
Cash provided by operating activities 120,075 90,779 94,625
Cash flows from investing activities:      
Purchases of property, plant and equipment (19,961) (19,643) (19,976)
Acquisition of businesses, net of cash acquired and working capital adjustments   (21,565) (284,728)
Payment of contingent consideration related to acquisition of technology assets   (1,470) (2,200)
Proceeds from sale of property, plant and equipment 69 137 200
Cash used in investing activities (19,892) (42,541) (306,704)
Cash flows from financing activities:      
Borrowings under revolving credit facilities   69,941 280,000
Repayments under term loan and revolving credit facilities (86,552) (59,029) (32,381)
Payments of debt issuance costs   (2,492) (890)
Payments of withholding taxes from share-based awards (10,563) (11,721) (30,830)
Payments of contingent considerations related to acquisitions (81) (46,254) (1,836)
Repurchases of common shares   (10,000)  
Purchase of building under finance lease     (8,743)
Other financing activities (657) (599) (567)
Cash provided by (used in) financing activities (97,853) (60,154) 204,753
Effect of exchange rates on cash and cash equivalents 2,616 (5,372) (335)
Increase (decrease) in cash and cash equivalents 4,946 (17,288) (7,661)
Cash and cash equivalents, beginning of year 100,105 117,393 125,054
Cash and cash equivalents, end of year 105,051 100,105 117,393
Supplemental disclosure of cash flow information:      
Cash paid for interest 25,302 14,264 6,207
Cash paid for income taxes 36,903 20,291 11,304
Income tax refunds received 612 169 1,557
Supplemental disclosure of non-cash investing activities:      
Accruals for capital expenditures $ 570 $ 1,681 $ 708