v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities    
Net income (loss) $ (3,057) $ 20,584
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,808 5,289
Share-based compensation 742 1,116
Equity method investment loss (gain) (257) 296
Deferred income taxes, including change in valuation allowance 64 645
Change in fair value of contingent consideration 14,700 4,100
Other, net 73 157
Changes in operating assets and liabilities:    
Receivables, net 40,594 11,257
Inventory (13,439) (2,119)
Prepaid expenses (1,025) (1,904)
Income taxes payable (refundable) (2,094) 5,530
Accounts payable (146) (10,207)
Accrued expenses and other 2,857 (10,380)
Federal and state excise taxes payable (98) 1,548
Other, net (38) (1,289)
Net cash provided by operating activities 44,684 24,623
Cash Flows from Investing Activities    
Additions to property, plant, and equipment (19,926) (27,026)
Other, net 0 (240)
Net cash used in investing activities (19,926) (27,266)
Cash Flows from Financing Activities    
Payment of dividends and dividend equivalents (2,578) (2,672)
Repurchase of Common Stock (1,035) (6,961)
Proceeds from long-term debt 0 30,000
Principal payments on long-term debt (26,600) (16,600)
Net cash provided by (used in) financing activities (30,213) 3,767
Effect of exchange rate changes on cash and cash equivalents 294 (15)
Increase (decrease) in cash and cash equivalents (5,161) 1,109
Cash and cash equivalents, beginning of period 25,273 18,388
Cash and cash equivalents, end of period $ 20,112 $ 19,497

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