XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 63,073 $ 28,131
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 16,692 16,104
Loss on disposal of assets 359 84
Deferred income taxes (519) 2,237
Stock-based compensation 3,374 2,363
Accretion of deferred financing fees 155 141
Changes in assets and liabilities, net of business acquisitions:    
Accounts and other receivables (28,402) (13,170)
Inventories (1,889) 38,986
Accounts payable (8,029) (13,781)
Income taxes payable 17,933 0
Accrued liabilities (11,718) 912
Deferred income and customer advances (315) (6,803)
Other assets and liabilities (1,552) 1,886
Net cash provided by operating activities 49,162 57,090
Cash flows from investing activities:    
Expenditures for property, plant and equipment (21,019) (14,177)
Acquisition of business (98,589) (9,523)
Other investing activities (296) (231)
Net cash used for investing activities (119,904) (23,931)
Cash flows from financing activities:    
Borrowings from line of credit 148,500 54,000
Payments of line of credit (63,500) (83,000)
Principal payments of finance leases (237) (199)
Dividend payments (3,517) 0
Purchase of treasury stock (7,012) (443)
Issuance of common stock 714 1
Net cash provided by (used for) financing activities 74,948 (29,641)
Net change in cash and cash equivalents 4,206 3,518
Cash and cash equivalents at beginning of period 15,100 10,606
Cash and cash equivalents at the end of period 19,306 14,124
Supplemental non-cash investing activities:    
Capital expenditures included in accounts payable 7,335 2,965
Supplemental cash activities:    
Cash paid for interest 408 1,518
Cash paid for income taxes $ 22 $ 35