v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities      
Net income (loss) $ (107,832) $ 34,465 $ 107,130
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 24,086 21,989 22,113
Impairment of long-lived assets and other 0 137 19,391
Goodwill and indefinite-lived intangible asset impairment 152,622 73,755 0
Share-based compensation 4,704 4,016 10,635
Equity method investment loss (gain) (1,187) (1,827) 337
Deferred income taxes, including change in valuation allowance (3,420) 359 (4,041)
Change in fair value of contingent consideration 25,500 16,100 7,100
Other, net 831 465 728
Changes in operating assets and liabilities, net of effects of acquisitions:      
Receivables, net 32,189 (4,375) (32,397)
Inventory (18,145) (18,155) (46,921)
Prepaid expenses 1,831 (409) (481)
Income taxes payable (refundable) 239 (2,258) 3,136
Accounts payable 1,619 (9,099) (2,406)
Accrued expenses and other 8,424 (15,111) 348
Federal and state excise taxes payable 397 3,107 (2,375)
Other, net (330) (881) 1,486
Net cash provided by operating activities 121,528 102,278 83,783
Cash Flows from Investing Activities      
Additions to property, plant, and equipment (45,488) (71,181) (55,267)
Purchase of business, net of cash acquired 0 0 (103,712)
Other, net (37) (377) (263)
Net cash used in investing activities (45,525) (71,558) (159,242)
Cash Flows from Financing Activities      
Payment of dividends and dividend equivalents (10,325) (10,630) (10,675)
Repurchase of Common Stock (1,035) (48,773) (801)
Loan fees paid related to borrowings (2,762) 0 0
Proceeds from long-term debt 28,000 125,000 105,000
Principal payments on long-term debt (97,400) (89,400) (47,600)
Net cash provided by (used in) financing activities (83,522) (23,803) 45,924
Effect of exchange rate changes on cash and cash equivalents 706 (32) 34
Increase (decrease) in cash and cash equivalents (6,813) 6,885 (29,501)
Cash and cash equivalents, beginning of year 25,273 18,388 47,889
Cash and cash equivalents, end of year $ 18,460 $ 25,273 $ 18,388

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