v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities    
Net income $ 76,463 $ 76,084
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 16,298 16,272
Impairment of long-lived assets and other 137 18,334
Share-based compensation 2,748 5,651
Equity method investment loss (gain) (1,446) 191
Deferred income taxes, including change in valuation allowance (1,084) (2,112)
Change in fair value of contingent consideration 15,900 4,200
Other, net 292 376
Changes in operating assets and liabilities, net of effects of acquisition:    
Receivables, net 13,979 (14,980)
Inventory (24,979) (42,015)
Prepaid expenses (1,091) (1,517)
Income taxes payable (refundable) (2,765) 2,134
Accounts payable (10,627) (10,069)
Accrued expenses and other (9,935) (2,471)
Federal and state excise taxes payable 231 (1,908)
Other, net (609) 435
Net cash provided by operating activities 73,512 48,605
Cash Flows from Investing Activities    
Additions to property, plant, and equipment (52,850) (42,062)
Purchase of business, net of cash acquired 0 (103,712)
Other, net (276) (916)
Net cash used in investing activities (53,126) (146,690)
Cash Flows from Financing Activities    
Payment of dividends and dividend equivalents (8,013) (8,006)
Repurchase of Common Stock (12,235) (801)
Proceeds from long-term debt 70,000 105,000
Principal payments on long-term debt (67,800) (18,000)
Net cash provided by (used in) financing activities (18,048) 78,193
Effect of exchange rate changes on cash and cash equivalents 46 33
Increase (decrease) in cash and cash equivalents 2,384 (19,859)
Cash and cash equivalents, beginning of period 18,388 47,889
Cash and cash equivalents, end of period $ 20,772 $ 28,030

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