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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash provided by (used in) Operating activities    
Net earnings $ 147,021 $ 145,007
Items not affecting cash:    
Depreciation and amortization 127,934 110,140
Deferred income tax (19,049) 7,436
Contingent acquisition consideration fair value adjustments 16,366 (594)
Gain on sale of building asset (4,351) 0
Stock-based compensation and other 22,401 18,965
Changes in non-cash working capital:    
Accounts receivable (93,822) (69,671)
Inventories 22,240 (71,517)
Prepaid expenses and other current assets (4,840) 266
Accounts payable (17,063) 11,545
Accrued liabilities 25,910 (8,844)
Income tax payable 10,815 (13,819)
Unearned revenues 39,956 3,821
Other liabilities 11,176 (26,842)
Contingent acquisition consideration paid (4,334) 0
Net cash provided by operating activities 280,360 105,893
Investing activities    
Acquisitions of businesses, net of cash acquired (note 4) (547,182) (51,994)
Disposal of building asset (note 6) 7,350 0
Purchases of fixed assets (92,734) (77,609)
Other investing activities (13,763) (31,197)
Net cash used in investing activities (646,329) (160,800)
Financing activities    
Increase in long-term debt 587,847 150,156
Repayment of long-term debt (141,000) (70,000)
Financing fees paid 0 (2,468)
Purchases of non-controlling interests (5,310) (21,794)
Sale of interests in subsidiaries to non-controlling interests 1,025 343
Contingent acquisition consideration paid (15,802) (6,806)
Proceeds received on exercise of stock options 33,616 12,296
Dividends paid to common shareholders (39,055) (34,884)
Distributions paid to non-controlling interests (7,376) (8,061)
Net cash provided by financing activities 413,945 18,782
Effect of exchange rate changes on cash (447) 1,202
Increase (decrease) in cash, cash equivalents and restricted cash 47,529 (34,923)
Cash, cash equivalents and restricted cash, beginning of year 159,348 194,271
Cash, cash equivalents and restricted cash, end of year $ 206,877 $ 159,348