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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 31,241 $ 32,837
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 14,175 13,765
Non-cash inventory charges   1,113
Pension and other post-retirement plan expense 61 182
Stock-based compensation 3,235 3,566
Asset impairment charges 1,324  
Deferred income taxes (553) 1,277
Gain on foreign currency hedges, net of cash 228 (12)
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable (6,737) (12,861)
Inventories (349) (7,177)
Operating lease assets (3,066) 1,515
Other assets (599) 2,513
Accounts payable 1,004 5,087
Accrued payroll and benefits (6,423) (4,458)
Operating lease liabilities 3,136 (1,658)
Accrued expenses and other liabilities (2,017) 93
Pension and other post-retirement plans (53) (430)
Net cash provided by operating activities 34,607 35,352
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (8,487) (6,991)
Payments for acquisitions, net of cash acquired (3,359) (96,528)
Net cash used in investing activities (11,846) (103,519)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payments of long-term debt (249,732) (300,000)
Proceeds from borrowings of long-term debt 243,102 341,027
Purchase of treasury stock (17,562) (11,668)
Dividends paid (2,535) (2,576)
Payments of contingent consideration   (900)
Taxes paid on behalf of equity award participants (3,240) (1,491)
Net cash (used in) provided by financing activities (29,967) 24,392
Effect of exchange rate changes on cash and cash equivalents 1,174 1,049
Net decrease in cash and cash equivalents (6,032) (42,726)
Cash and cash equivalents at beginning of period 156,910 141,465
Cash and cash equivalents at end of period 150,878 98,739
Supplemental cash flow information:    
Cash paid for interest 1,720 969
Cash paid for income taxes, net 9,732 7,606
Capital expenditures incurred but not paid $ 1,565 $ 1,397