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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 32,837 $ 12,865
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 13,765 13,512
Non-cash inventory charges 1,113  
Pension and other post-retirement plan expense 182 23,823
Stock-based compensation 3,566 3,122
Deferred income taxes 1,277 (4,875)
Gain on foreign currency hedges, net of cash (12) (26)
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable (12,861) 316
Inventories (7,177) (2,994)
Operating lease assets 1,515 131
Other assets 2,513 (1,440)
Accounts payable 5,087 (3,433)
Accrued payroll and benefits (4,458) 1,145
Operating lease liabilities (1,658) (143)
Accrued expenses and other liabilities 93 (3,028)
Pension and other post-retirement plans (430) (190)
Net cash provided by operating activities 35,352 38,785
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (6,991) (3,970)
Payments for acquisitions, net of cash acquired (96,528) (255)
Net cash used in investing activities (103,519) (4,225)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments of long-term debt (300,000) (430,300)
Proceeds from borrowings of long-term debt 341,027 425,700
Purchase of treasury stock (11,668)  
Dividends paid (2,576) (2,585)
Payments of contingent consideration (900) (350)
Taxes paid on behalf of equity award participants (1,491) (1,480)
Net cash provided by (used in) financing activities 24,392 (9,015)
Effect of exchange rate changes on cash and cash equivalents 1,049 79
Net (decrease) increase in cash and cash equivalents (42,726) 25,624
Cash and cash equivalents at beginning of period 141,465 91,773
Cash and cash equivalents at end of period 98,739 117,397
Supplemental cash flow information:    
Cash paid for interest 969 716
Cash paid for income taxes, net 7,606 7,516
Capital expenditures incurred but not paid $ 1,397 $ 1,288