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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities    
Net income available to common stockholders $ 66,267 $ 73,111
(Loss) Income from discontinued operations 1,544 7,418
Income from continuing operations 64,723 65,693
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 23,958 15,749
Stock compensation expense 6,769 6,151
Gain on sale of business 0 (1,881)
Exit activity costs, non-cash 1,193 505
(Benefit of) provision for deferred income taxes (689) 680
Other, net 1,274 763
Changes in operating assets and liabilities, excluding the effects of acquisitions:    
Accounts receivable (65,297) (40,883)
Inventories (65,906) 2,007
Other current assets and other assets (316) 6,055
Accounts payable 32,029 12,856
Accrued expenses and other non-current liabilities (12,261) (22,379)
Net cash (used in) provided by operating activities of continuing operations (14,523) 45,316
Net cash (used in) provided by operating activities of discontinued operations (2,002) 10,878
Net cash (used in) provided by operating activities (16,525) 56,194
Cash Flows from Investing Activities    
Purchases of property, plant, and equipment (13,312) (7,893)
Acquisitions, net of cash acquired 4,143 (54,385)
Net proceeds from sale of business 38,062 723
Net proceeds from sale of property and equipment 61 1,355
Net cash provided by (used in) investing activities of continuing operations 28,954 (60,200)
Net cash used in investing activities of discontinued operations (176) (952)
Net cash provided by (used in) investing activities 28,778 (61,152)
Cash Flows from Financing Activities    
Proceeds from long-term debt 58,500 0
Long-term debt payments (83,636) 0
Purchase of common stock at market prices (6,161) (6,408)
Net proceeds from issuance of common stock 1,021 377
Net cash used in financing activities (30,276) (6,031)
Effect of exchange rate changes on cash (97) (558)
Net decrease in cash and cash equivalents (18,120) (11,547)
Cash and cash equivalents at beginning of year 32,054 191,363
Cash and cash equivalents at end of period $ 13,934 $ 179,816