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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net earnings $ 30,940 $ 33,651
Adjustments to arrive at net cash provided by operating activities:    
Depreciation and amortization 14,709 14,150
Share-based compensation expense 1,995 2,267
Net (gain) loss on assets (193) 8
Portfolio Optimization Plan costs 1,189 0
Deferred income taxes (4) (2,351)
Changes in operating assets and liabilities:    
Trade accounts receivable (28,331) (7,142)
Inventories 26,624 (4,374)
Prepaid expenses and other assets (13,655) (2,062)
Accounts payable and other accrued expenses (21,993) (19,251)
Accrued salaries, wages, and withholdings from employees 29 (21,187)
Income taxes 3,150 2,548
Other liabilities 674 698
Net cash provided by (used in) operating activities 15,134 (3,045)
Cash flows from investing activities    
Acquisition of property, plant, and equipment (11,030) (22,278)
Proceeds from sale of assets 93 1
Other investing activities (1) (602)
Net cash used in investing activities (10,938) (22,879)
Cash flows from financing activities:    
Proceeds from additional borrowings 38,053 50,827
Debt payments (27,031) (1,351)
Dividends paid (17,312) (17,255)
Other financing activities (2,828) (7,669)
Net cash (used in) provided by financing activities (9,118) 24,552
Effect of exchange rate changes on cash and cash equivalents 1,405 4,468
Net (decrease) increase in cash and cash equivalents (3,517) 3,096
Cash and cash equivalents at beginning of period 28,934 20,921
Cash and cash equivalents at end of period $ 25,417 $ 24,017