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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net income available to common stockholders $ 21,099 $ 15,456
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 6,834 6,336
Stock compensation expense 1,594 1,352
Exit activity (recoveries) costs, non-cash (63) 1,198
(Benefit of) provision for deferred income taxes (51) 17
Other, net 1,023 1,395
Changes in operating assets and liabilities, excluding the effects of acquisitions:    
Accounts receivable (18,004) (11,101)
Inventories (1,586) (20,937)
Other current assets and other assets 2,536 731
Accounts payable 23,077 (11,962)
Accrued expenses and other non-current liabilities 1,586 9,761
Net cash provided by (used in) operating activities 38,045 (7,754)
Cash Flows from Investing Activities    
Purchases of property, plant, and equipment, net (2,190) (4,402)
Acquisitions, net of cash acquired 554 0
Net cash used in investing activities (1,636) (4,402)
Cash Flows from Financing Activities    
Proceeds from long-term debt 11,000 47,500
Long-term debt payments (50,000) (29,000)
Purchase of common stock at market prices (7,509) (3,461)
Net cash (used in) provided by financing activities (46,509) 15,039
Effect of exchange rate changes on cash (11) (159)
Net (decrease) increase in cash and cash equivalents (10,111) 2,724
Cash and cash equivalents at beginning of year 17,608 12,849
Cash and cash equivalents at end of period $ 7,497 $ 15,573