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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income $ 71,169 $ 26,477
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation 25,239 19,593
Amortization of intangibles 12,026 17,228
Net gain on sale of property, plant and equipment and business divestiture (635) (1,447)
Loss on debt extinguishment 0 452
Deferred income taxes (178) (1,756)
Stock-based compensation 7,367 5,889
Impairment 1,339 817
Non-cash interest expense 644 882
Accounts receivable (71,575) (118,176)
Inventories (72,080) (96,818)
Prepaid expenses and other (716) 1,054
Accounts payable and accrued liabilities 101,101 65,424
Other, net (1,545) 6,152
Net cash provided by (used in) operating activities 72,156 (74,229)
Cash flows from investing activities    
Cash payments for capital expenditures (42,304) (20,192)
Proceeds from the sale of assets 1,445 21,967
Net cash (used in) provided by investing activities (40,859) 1,775
Cash flows from financing activities    
Proceeds from exercise of stock options 1,241 1,949
Dividends paid (12,176) (12,470)
Borrowings under revolving credit facilities 72,244 347
Payments under revolving credit facilities (57,279) (347)
Principal payments under finance lease obligations (59) (259)
Principal payments under term loan credit facility 0 (30,000)
Debt issuance costs paid (1,023) (50)
Stock repurchases (24,545) (55,019)
Net cash used in financing activities (21,597) (95,849)
Cash and cash equivalents:    
Net increase (decrease) in cash, cash equivalents, and restricted cash 9,700 (168,303)
Cash, cash equivalents, and restricted cash at beginning of period 71,778 217,677
Cash, cash equivalents, and restricted cash at end of period 81,478 49,374
Supplemental disclosures of cash flow information:    
Cash paid for interest 10,679 12,734
Cash paid for income taxes 1,928 3,403
Period end balance of payables for property, plant, and equipment $ 7,914 $ 3,238