XML 15 R6.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
Dec. 31, 2021
Operating activities:      
Net earnings $ 92,598 $ 66,496 $ 60,884
Adjustments to reconcile net earnings to net cash provided by operations:      
Depreciation 10,937 11,090 11,291
Amortization 17,173 15,151 16,571
Deferred income taxes (9,650) (5,619) (3,055)
Noncurrent employee benefits (338) (648) (234)
Stock-based compensation expense 5,188 3,148 2,330
Changes in:      
Receivables (6,351) (11,328) (1,240)
Inventories (32,467) (21,021) (13,633)
Payables 8,506 28,007 7,005
Prepaid expenses and other assets (7,012) (10,557) (8,281)
Other liabilities 31,533 7,732 15,872
Total adjustments 17,519 15,955 26,626
Net cash provided by operations 110,117 82,451 87,510
Investing activities:      
Property, plant and equipment expenditures (12,003) (5,891) (6,746)
Acquisitions, net of cash acquired (17,127)   (45,273)
Proceeds from company owned life insurance plans     596
Net cash used for investing activities (29,130) (5,891) (51,423)
Financing activities:      
Dividends paid (29,052) (24,881) (22,155)
Proceeds from exercise of stock options 967 703 2,036
Repurchase of common stock for treasury stock   (427) (460)
Issuance of treasury stock     72
Net cash used for financing activities (28,085) (24,605) (20,507)
Effect of foreign exchange rates on cash 828 (1,077) (679)
Increase in cash and cash equivalents 53,730 50,878 14,901
Cash and cash equivalents - beginning of period 138,052 87,174 72,273
Cash and cash equivalents - end of period 191,782 138,052 87,174
Cash paid during the year for:      
Income taxes 38,934 24,038 19,981
Interest     $ 118
Property, plant and equipment acquired through operating lease 830 2,283  
Property, plant and equipment accrued and unpaid $ 450 $ 1,517