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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 12,741 $ 8,990
Adjustments to reconcile net earnings to net cash used in operating activities:    
Depreciation and amortization 10,267 7,301
Amortization of deferred financing cost 327 120
Increase to allowance for expected credit losses 1,614 191
Increase to inventory reserves 1,843 1,068
Equity income from joint ventures (1,084) (694)
Employee stock ownership plan allocation 675 697
Stock-based compensation 1,550 1,270
Increase in deferred income taxes (16) (180)
Loss on discontinued operations, net of tax 1,139 1,039
Change in assets and liabilities:    
Increase in accounts receivable (68,882) (43,978)
Increase in inventories (14,576) (14,670)
Decrease in prepaid expenses and other current assets 1,438 1,649
Increase (decrease) in accounts payable 957 (9,274)
(Decrease) increase in sundry payables and accrued expenses (3,185) 3,988
Net change in other assets and liabilities (5,028) (3,233)
Net cash used in operating activities (60,220) (45,716)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (9,132) (10,086)
Other investing activities 2,923 15
Net cash used in investing activities (6,209) (10,071)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of term loans (3,853) (1,250)
Net borrowings under revolving credit facilities 80,962 59,950
Net borrowings (repayments) of other debt and lease obligations 1,985 (8)
Purchase of treasury stock 0 (2,235)
Increase in overdraft balances 191 315
Dividends paid (6,777) (6,392)
Net cash provided by financing activities 72,508 50,380
Effect of exchange rate changes on cash (229) (6)
Net increase (decrease) in cash and cash equivalents 5,850 (5,413)
CASH AND CASH EQUIVALENTS at beginning of period 44,426 32,526
CASH AND CASH EQUIVALENTS at end of period 50,276 27,113
Cash paid during the period for:    
Interest 7,846 2,241
Income taxes $ 3,866 $ 3,532