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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net earnings $ 108,543 $ 105,367 $ 96,104
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 54,935 51,848 48,879
Stock compensation expense 16,052 13,224 10,802
Deferred income taxes (10,814) (8,362) (5,944)
Provision for doubtful accounts 37 401 180
Unrealized (gain) loss on foreign currency transactions and deferred compensation (733) 914 (384)
Asset impairment charge and (gain) loss on disposal of assets 7,031 366 (53)
Change in fair value of contingent consideration liability (11,300) 0 0
Changes in assets and liabilities, net of acquired balances      
Accounts receivable 6,969 (3,618) (20,700)
Inventories 10,530 (7,804) (21,023)
Prepaid expenses and other current assets (3,540) 1,870 (881)
Accounts payable and accrued expenses 3,552 (15,543) 47,067
Income taxes 2,194 296 4,787
Other 305 (423) 1,680
Net cash provided by operating activities 183,761 138,536 160,514
Cash flows from investing activities:      
Cash paid for acquisitions, net of cash acquired (1,252) (365,780) 0
Capital expenditures and intangible assets acquired (37,892) (49,945) (37,363)
Proceeds from sale of assets 1,881 206 318
Proceeds from settlement of net investment hedge 2,740 0 0
Proceeds from insurance 0 0 1,831
Investment in affiliates (290) (495) (86)
Net cash used in investing activities (34,813) (416,014) (35,300)
Cash flows from financing activities:      
Proceeds from revolving loan 18,000 435,000 5,000
Principal payments on revolving debt (149,000) (103,000) (60,000)
Principal payment on acquired debt 0 (30,988) 0
Cash paid for financing costs 0 (1,232) 0
Principal payments on finance lease (222) (177) (159)
Proceeds from stock options exercised 5,242 3,212 6,943
Dividends paid (22,872) (20,713) (18,723)
Repurchases of common stock (4,469) (35,423) (35,239)
Net cash (used in) provided by financing activities (153,321) 246,679 (102,178)
Effect of exchange rate changes on cash 2,260 (5,880) (4,368)
(Decrease) increase in cash and cash equivalents (2,113) (36,679) 18,668
Cash and cash equivalents beginning of period 66,560 103,239 84,571
Cash and cash equivalents end of period $ 64,447 $ 66,560 $ 103,239