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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities    
Net income $ 21,854 $ 8,741
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 6,405 6,276
Non-cash interest expense 296 226
Deferred income taxes (842) 191
Share-based compensation expense 8,082 7,027
Change in contingent consideration (625)  
Changes in operating assets and liabilities:    
Accounts receivable and contract assets (13,480) 3,157
Inventories (4,838) (25,763)
Prepaid expenses and other current assets 395 (4,783)
Accounts payable and accrued expenses 17,621 13,431
Contract liabilities (24,215) 5,534
Income taxes receivable and payable, net 853 94
Other, net (2,145) (213)
Net cash provided by (used in) operating activities 9,361 13,918
Cash Flows from Investing Activities    
Capital expenditures (5,990) (6,946)
Acquisition of businesses, net of cash acquired   (30,373)
Proceeds from the sale of investments 53,473 40,049
Payments for purchases of investments (28,791) (3,492)
Proceeds from sale of productive assets 2,033  
Net cash provided by (used in) investing activities 20,725 (762)
Cash Flows from Financing Activities    
Restricted stock tax withholdings (14,340) (8,509)
Contingent consideration payment (1,818)  
Proceeds (net of tax withholdings) from option exercises and employee stock purchase plan 1,318 1,241
Extinguishment of Convertible Notes   (20,173)
Net cash provided by (used in) financing activities (14,840) (27,441)
Effect of exchange rate changes on cash and cash equivalents (42) 10
Net increase (decrease) in cash, cash equivalents, and restricted cash 15,204 (14,275)
Cash, cash equivalents, and restricted cash - beginning of period 159,120 155,472
Cash, cash equivalents, and restricted cash - end of period 174,324 141,197
Supplemental Disclosure of Cash Flow Information    
Interest paid 619 2,744
Income taxes paid, net of refunds received 992 386
Non-cash activities    
Capital expenditures included in accounts payable and accrued expenses $ 599 5,052
Net transfer of inventory to property, plant and equipment   4,304
Right-of-use assets obtained in exchange for lease obligations   $ 630