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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 34,813 $ 15,469
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation 16,482 12,881
Amortization of intangibles 8,842 11,597
Net gain on sale of property, plant and equipment and business divestiture (642) (2,043)
Loss on debt extinguishment 0 452
Deferred income taxes (139) (1,799)
Stock-based compensation 4,647 4,216
Impairment 986 817
Non-cash interest expense 426 591
Accounts receivable (55,114) (25,758)
Inventories (67,717) (89,733)
Prepaid expenses and other 814 2,500
Accounts payable and accrued liabilities 142,869 56,074
Other, net (3,593) 1,650
Net cash provided by (used in) operating activities 82,674 (13,086)
Cash flows from investing activities    
Cash payments for capital expenditures (22,369) (11,063)
Proceeds from the sale of assets 1,445 20,978
Net cash (used in) provided by investing activities (20,924) 9,915
Cash flows from financing activities    
Proceeds from exercise of stock options 735 1,450
Dividends paid (8,278) (8,437)
Borrowings under revolving credit facilities 56,739 232
Payments under revolving credit facilities (30,773) (232)
Principal payments under finance lease obligations (59) (172)
Principal payments under term loan credit facility 0 (30,000)
Debt issuance costs paid (83) 0
Stock repurchases (13,325) (41,302)
Net cash provided by (used in) financing activities 4,956 (78,461)
Cash and cash equivalents:    
Net increase (decrease) in cash, cash equivalents, and restricted cash 66,706 (81,632)
Cash, cash equivalents, and restricted cash at beginning of period 71,778 217,677
Cash, cash equivalents, and restricted cash at end of period 138,484 136,045
Supplemental disclosures of cash flow information:    
Cash paid for interest 10,177 11,508
Refunds received for income taxes (3,312) (247)
Period end balance of payables for property, plant, and equipment $ 9,288 $ 4,274