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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 37,576 $ 30,119
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 12,837 12,078
Non-cash lease expense 4,239 4,181
Share-based compensation 3,912 3,985
Deferred income taxes 1,102 1,268
(Gain)/Loss on disposals of plant and equipment 104 620
Foreign exchange (income)/expense 2,044 585
Changes in assets and liabilities, net of acquisitions:    
Receivables (43,408) (34,119)
Inventory (50,725) (74,690)
Accounts payable and accrued expenses 13,163 (2,753)
Operating leases (4,239) (4,181)
Income taxes 5,062 2,654
Employee benefit plans 422 343
Other, net 5,892 (1,401)
Net cash flows from operating activities (12,019) (61,311)
Cash flows from investing activities:    
Additions to property, plant, and equipment (9,563) (9,456)
Cash paid for acquisitions, net of cash acquired (4,990) 553
Net cash flows from investing activities (14,553) (8,903)
Cash flows from financing activities:    
Proceeds from issuance of debt 141,671 198,556
Repayments of debt (83,938) (101,705)
Proceeds from issuance of common stock 2,938 343
Purchases of common stock (17,133) (19,319)
Dividends paid (10,440) (9,130)
Net cash flows from financing activities 33,098 68,745
Effect of exchange rate changes on cash and cash equivalents (443) (486)
Net change in cash and cash equivalents 6,083 (1,955)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance 45,790 40,536
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance 51,873 38,581
Non-cash items:    
Additions to property, plant, and equipment, not yet paid 1,461 749
Right-of-Use Assets obtained in exchange for new operating lease liabilities 506 1,962
Payable to sellers of acquired entities $ 614 $ 0