v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash Flows from Operating Activities    
Net income $ 26,799 $ 76,463
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,824 16,298
Share-based compensation 3,320 2,748
Equity method investment gain (869) (1,446)
Deferred income taxes, including change in valuation allowance (25) (1,084)
Change in fair value of contingent consideration 25,500 15,900
Other, net 594 429
Changes in operating assets and liabilities:    
Receivables, net 41,699 13,979
Inventory (19,935) (24,979)
Prepaid expenses (163) (1,091)
Income taxes payable (refundable) 1,442 (2,765)
Accounts payable (8,446) (10,627)
Accrued expenses and other 7,689 (9,935)
Federal and state excise taxes payable (2,906) 231
Other, net (74) (609)
Net cash provided by operating activities 92,449 73,512
Cash Flows from Investing Activities    
Additions to property, plant, and equipment (40,674) (52,850)
Other, net (14) (276)
Net cash used in investing activities (40,688) (53,126)
Cash Flows from Financing Activities    
Payment of dividends and dividend equivalents (7,739) (8,013)
Repurchase of Common Stock (1,035) (12,235)
Loan fees paid related to borrowings (2,712) 0
Proceeds from long-term debt 28,000 70,000
Principal payments on long-term debt (80,800) (67,800)
Net cash used in financing activities (64,286) (18,048)
Effect of exchange rate changes on cash and cash equivalents 699 46
Increase (decrease) in cash and cash equivalents (11,826) 2,384
Cash and cash equivalents, beginning of period 25,273 18,388
Cash and cash equivalents, end of period $ 13,447 $ 20,772

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