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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities:      
Net earnings $ 105,367 $ 96,104 $ 84,623
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 51,848 48,879 51,281
Stock compensation expense 13,224 10,802 8,303
Deferred income taxes (8,362) (5,944) (4,627)
Provision for doubtful accounts 401 180 140
Unrealized loss/(gain) on foreign currency transactions and deferred compensation 914 (384) 173
Asset impairment charge 23 1,675 1,915
Loss/(gain) on disposal of assets 343 (1,728) 153
Changes in assets and liabilities, net of acquired balances      
Accounts receivable (3,618) (20,700) (3,599)
Inventories (7,804) (21,023) 13,923
Prepaid expenses and other current assets 1,870 (881) (2,856)
Accounts payable and accrued expenses (15,543) 47,067 (992)
Income taxes 296 4,787 1,859
Other (423) 1,680 198
Net cash provided by operating activities 138,536 160,514 150,494
Cash flows from investing activities:      
Cash paid for acquisitions, net of cash acquired (365,780) 0 0
Capital expenditures and intangible assets acquired (50,290) (37,449) (33,828)
Proceeds from sale of assets 206 318 87
Proceeds from insurance 0 1,831 0
Purchase of convertible notes (150) 0 (850)
Net cash used in investing activities (416,014) (35,300) (34,591)
Cash flows from financing activities:      
Proceeds from revolving loan 435,000 5,000 10,000
Principal payments on revolving loan (103,000) (60,000) (95,000)
Principal payment on acquired debt (30,988) 0 0
Cash paid for financing costs (1,232) 0 0
Principal payments on finance lease (177) (159) (151)
Proceeds from stock options exercised 3,212 6,943 14,155
Dividends paid (20,713) (18,723) (16,705)
Repurchases of common stock (35,423) (35,239) (13,463)
Net cash provided by (used in) financing activities 246,679 (102,178) (101,164)
Effect of exchange rate changes on cash (5,880) (4,368) 4,160
(Decrease) increase in cash and cash equivalents (36,679) 18,668 18,899
Cash and cash equivalents beginning of period 103,239 84,571 65,672
Cash and cash equivalents end of period $ 66,560 $ 103,239 $ 84,571