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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 33,092 $ 37,576
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization 13,792 12,837
Non-cash lease expense 5,194 4,239
Share-based compensation 4,042 3,912
Deferred income taxes (814) 1,102
(Gain)/loss on disposals of plant and equipment (30) 104
Foreign exchange expense 4,880 2,044
Changes in assets and liabilities, net of acquisitions:    
Receivables (43,365) (43,408)
Inventory (28,105) (50,725)
Accounts payable and accrued expenses 8,576 13,163
Operating leases (5,305) (4,239)
Income taxes 5,301 5,062
Employee benefit plans (539) 422
Other, net 1,919 5,892
Net cash flows from operating activities (1,362) (12,019)
Cash flows from investing activities:    
Additions to property, plant, and equipment (9,184) (9,563)
Proceeds from sale of property, plant, and equipment 102 0
Cash paid for acquisitions, net of cash acquired (1,151) (4,990)
Other, net 17 0
Net cash flows from investing activities (10,216) (14,553)
Cash flows from financing activities:    
Proceeds from issuance of debt 85,539 141,671
Repayments of debt (74,142) (83,938)
Proceeds from issuance of common stock 4,050 2,938
Purchases of common stock (9,047) (17,133)
Dividends paid (12,395) (10,440)
Deferred Payments for Acquisitions (348) 0
Net cash flows from financing activities (6,343) 33,098
Effect of exchange rate changes on cash and cash equivalents (1,728) (443)
Net change in cash and cash equivalents (19,649) 6,083
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance 84,963 45,790
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance 65,314 51,873
Non-cash items:    
Additions to property, plant, and equipment, not yet paid 772 1,461
Right-of-Use Assets obtained in exchange for new operating lease liabilities 9,407 506
Payable to sellers of acquired entities $ 1,300 $ 614