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Consolidated Statement of Cash Flows Statement - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities:    
Net income $ 5,140 $ 4,910
Adjustments to reconcile income to net cash provided by operating activities, net of acquisition impact:    
Gain on dispositions of assets (60) (10)
Depreciation 9,980 8,760
Amortization of intangible assets 4,210 4,590
Amortization of debt issue costs 240 230
Deferred income taxes 3,410 2,070
Non-cash compensation expense 4,570 2,940
Provision for losses on accounts receivable 770 0
Increase in receivables (16,190) (11,850)
Decrease (increase) in inventories (14,260) (1,590)
Decrease in prepaid expenses and other assets 510 1,490
Decrease in accounts payable and accrued liabilities (3,670) (2,360)
Other operating activities 1,660 510
Net cash provided by (used for) operating activities, net of acquisition impact (3,690) 9,690
Cash Flows from Investing Activities:    
Capital expenditures (13,250) (14,790)
Acquisition of businesses, net of cash acquired 0 (37,790)
Net proceeds from disposition of property and equipment 110 10
Net cash used for investing activities (13,140) (52,570)
Cash Flows from Financing Activities:    
Proceeds from borrowings on revolving credit facilities 68,890 10,840
Repayments of borrowings on revolving credit facilities (39,820) (10,840)
Payments to purchase common stock (13,320) (10,400)
Shares surrendered upon exercise and vesting of equity awards to cover taxes (1,560) (2,310)
Dividends paid (1,660) (1,660)
Other financing activities (120) (2,950)
Net cash provided by (used for) financing activities 12,410 (17,320)
Decrease for the period (4,420) (60,200)
At beginning of period 34,890 112,090
At end of period 30,470 51,890
Supplemental disclosure of cash flow information:    
Cash paid for interest 490 210
Cash paid for taxes $ 1,000 $ 1,780