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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net earnings $ 34,105 $ 30,482
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 32,393 22,008
Amortization of deferred financing cost 931 1,655
Increase to allowance for expected credit losses 2,865 461
Increase to inventory reserves 5,367 3,731
Equity income from joint ventures (3,593) (3,520)
Employee stock ownership plan allocation 2,025 2,090
Stock-based compensation 5,515 4,464
Increase in deferred income taxes (3,584) (4,408)
Loss on discontinued operations, net of tax 36,369 24,727
Change in assets and liabilities:    
Increase in accounts receivable (78,691) (59,040)
(Increase) decrease in inventories (22,777) 2,895
Decrease (increase) in prepaid expenses and other current assets 3,403 (2,739)
Increase in accounts payable 22,431 4,487
Increase in sundry payables and accrued expenses 46,211 45,470
Net change in other assets and liabilities 2,711 5,437
Net cash provided by operating activities 85,681 78,200
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (29,334) (34,136)
Other investing activities 3,043 18
Net cash used in investing activities (26,291) (34,118)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of term loans (11,788) (92,500)
Net borrowings under revolving credit facilities 9,735 76,500
Net borrowings of other debt and lease obligations 892 2,578
Purchase of treasury stock 0 (10,409)
Payments of debt issuance costs 0 (4,183)
Increase in overdraft balances 1,542 549
Dividends paid (20,408) (19,004)
Dividends paid to noncontrolling interest (335) (1,200)
Net cash used in financing activities (20,362) (47,669)
Effect of exchange rate changes on cash 3,747 (2,591)
Net increase (decrease) in cash 42,775 (6,178)
CASH at beginning of period 44,426 32,526
CASH at end of period 87,201 26,348
Cash paid during the period for:    
Interest 24,726 7,973
Income taxes 13,395 10,947
Noncash financing activity:    
Dividend payable to noncontrolling interest $ 0 $ 800