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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net earnings $ 34,680 $ 42,347
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 7,123 6,571
Stock-based compensation 1,775 1,851
Amortization of deferred financing costs 27 33
Deferred tax benefit (2,930) (3,128)
Net unrealized (gains)/losses on foreign currency revaluation (355) 505
Gain on sale of property 0 (3,672)
Gain on sale of Czech Republic business 0 (1,115)
Other, net 652 (1,124)
Changes in operating assets and liabilities:    
Accounts receivable 2,805 (236)
Unbilled receivables 6,887 5,018
Inventories 7,972 13,473
Accounts payable (4,026) (11,544)
Accrued expenses (14,147) 2,448
Accrued restructuring costs (1,553) 2,343
Income taxes payable 4,517 3,856
Other operating assets/liabilities, net (5,083) (16,970)
Net cash provided by operating activities 38,344 40,656
Cash flows from investing activities:    
Purchases of property, plant and equipment (4,278) (7,081)
Purchases of held to maturity and marketable securities (122,345) 0
Proceeds from held to maturity securities 101,071 0
Payment for equity method investment 0 (9,975)
Investment in related party notes receivable (633) 0
Proceeds from disposal/sale of property, plant and equipment 229 5,239
Proceeds from sale of business 0 5,198
Net cash used in investing activities (25,956) (6,619)
Cash flows from financing activities:    
Dividends paid to common stockholders (1,674) (1,658)
Repayments under revolving credit line 0 (40,000)
Borrowings under revolving credit line 0 5,000
Purchases of common stock (14,175) 0
Net cash used in financing activities (15,849) (36,658)
Effect of exchange rate changes on cash and cash equivalents (934) (2,592)
Net decrease in cash and cash equivalents (4,395) (5,213)
Cash and cash equivalents - beginning of period 89,371 70,266
Cash and cash equivalents - end of period 84,976 65,053
Supplementary information:    
Income taxes, net of refunds received 8,277 10,358
Interest payments 1,985 2,762
ROU assets obtained in exchange for lease obligations $ 4,239 $ 5,172