XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income $ 181,351 $ 71,169
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 23,075 25,239
Amortization of intangibles 9,610 12,026
Net loss (gain) on sale of property, plant and equipment 149 (635)
Deferred income taxes 9,924 (178)
Stock-based compensation 8,812 7,367
Impairment 0 1,339
Non-cash interest expense 710 644
Accounts receivable 44,396 (71,575)
Inventories (100,422) (72,080)
Prepaid expenses and other (11,820) (716)
Accounts payable and accrued liabilities 39,277 101,101
Other, net (464) (1,545)
Net cash provided by operating activities 204,598 72,156
Cash flows from investing activities    
Cash payments for capital expenditures (85,071) (42,304)
Expenditures for revenue generating assets (3,961) 0
Proceeds from the sale of assets 0 1,445
Net cash used in investing activities (89,032) (40,859)
Cash flows from financing activities    
Proceeds from exercise of stock options 155 1,241
Dividends paid (12,157) (12,176)
Borrowings under revolving credit facilities 103,992 72,244
Payments under revolving credit facilities (103,992) (57,279)
Principal payments under finance lease obligations 0 (59)
Debt issuance costs paid (110) (1,023)
Stock repurchases (55,899) (24,545)
Distribution to noncontrolling interest (512) 0
Net cash used in financing activities (68,523) (21,597)
Cash and cash equivalents:    
Net increase in cash, cash equivalents, and restricted cash 47,043 9,700
Cash, cash equivalents, and restricted cash at beginning of period 58,245 71,778
Cash, cash equivalents, and restricted cash at end of period 105,288 81,478
Supplemental disclosures of cash flow information:    
Cash paid for interest 9,743 10,679
Net cash paid for income taxes 69,788 1,928
Period end balance of payables for property, plant, and equipment $ 7,517 $ 7,914