XML 22 R9.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:    
Net earnings $ 73,831 $ 52,689
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 13,312 14,863
Stock-based compensation 3,486 2,382
Amortization of deferred financing costs 33 34
Deferred income taxes (3,872) (4,594)
Unrealized losses (gains) on foreign currency revaluation 1,356 (278)
Gains on sale/disposal of property, plant and equipment (2,117) (1,596)
Gain on sale of Czech Republic business (980) 0
Other, net (1,037) 1,195
Changes in operating assets and liabilities:    
Accounts receivable 22,500 (20,702)
Unbilled receivables 5,451 10,031
Inventories 33,613 (36,592)
Other current assets (217) (1,210)
Other assets 2,971 7,000
Accounts payable (22,745) 1,522
Accrued expenses 5,356 10,933
Accrued restructuring costs (1,228) 6,784
Other liabilities (16,388) (4,162)
Income taxes payable (4,976) 1,958
Net cash provided by operating activities 108,349 40,257
Cash flows from investing activities:    
Purchase of property, plant and equipment (12,126) (8,832)
Purchases of held to maturity and marketable securities (59,992) 0
Proceeds from held to maturity securities 19,918 0
Payment for equity method investment (10,282) 0
Investment in related party notes receivable (2,152) 0
Proceeds from disposal/sale of property, plant and equipment 6,036 1,833
Proceeds from sale of business 5,063 0
Net cash used in investing activities (53,535) (6,999)
Cash flows from financing activities:    
Dividends paid to common shareholders (3,492) (3,413)
Purchase of treasury stock (105) (349)
Borrowings under revolving credit line 5,000 0
Repayments under revolving credit line (40,000) (17,500)
Net cash used in financing activities (38,597) (21,262)
Effect of exchange rate changes on cash 2,888 (3,486)
Net increase in cash and cash equivalents 19,105 8,510
Cash and cash equivalents - beginning of year 70,266 61,756
Cash and cash equivalents - end of year 89,371 70,266
Supplemental cash flow information:    
Income taxes, net of refunds received 25,056 14,618
Interest payments 4,729 3,371
ROU assets obtained in exchange for lease obligations $ 5,999 $ 8,052