v3.22.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities:    
Net income $ 72,501 $ 58,912
Adjustments to reconcile net income to net cash provided by operating activities:    
Non-cash compensation expense 3,651 2,856
Non-cash compensation to directors 579 485
Depreciation 10,684 9,531
Amortization 3,431 3,575
Deferred income taxes 2,556 3,665
Other items, net 792 344
Change in operating assets and liabilities:    
Trade receivables (3,846) 28,057
Inventories (28,569) (35,613)
Prepaid expenses and other assets (4,287) (5,473)
Accounts payable (4,151) (2,788)
Income taxes payable 501 (2,899)
Accrued expenses (1,924) 289
Other liabilities (1,106) (2,975)
Net cash provided by operating activities 50,812 57,966
Investing activities:    
Purchases of property, plant and equipment (22,339) (26,226)
Net cash used in investing activities (22,339) (26,226)
Financing activities:    
Proceeds from revolving credit facility 141,700 0
Principal payments on long-term borrowings (23,125) (625)
Payments on revolving credit facility (167,000) (20,000)
Payment of deferred financing costs (1,362) 0
Proceeds received from exercise of stock options 0 971
Cash paid for withholding taxes on vested restricted stock (2,866) (2,027)
Distributions to LLC Unit holders (1,741) (1,244)
Repurchase and retirement of common stock (7,868) (5,228)
Net cash used in financing activities (62,262) (28,153)
Effect of exchange rate changes on cash (107) (231)
Changes in cash (33,896) 3,356
Cash—Beginning of period 83,744 41,479
Cash—End of period 49,848 44,835
Supplemental cash flow information:    
Cash paid for interest 1,219 1,043
Cash paid for income taxes $ 20,168 $ 16,655