v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
OPERATING ACTIVITIES    
Net income $ 60,434 $ 89,070
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 14,249 14,154
Deferred Income Taxes 0 (5,212)
Stock-based compensation 2,313 3,155
(Gain)/Loss on disposal of property, plant and equipment (57) 2,122
Other non-cash adjustments 117 121
Changes in operating assets and liabilities:    
Accounts receivable (302,708) (332,333)
Inventories 30,863 (16,796)
Prepaid expenses and other assets 2,161 (319)
Accounts payable 4,187 26,238
Accrued expenses and other liabilities 15,278 12,041
Income taxes receivable/payable 19,150 33,715
Net cash provided by operating activities (154,013) (174,044)
INVESTING ACTIVITIES    
Expenditures for property, plant and equipment (79,486) (37,720)
Purchased intangibles (635)  
Proceeds from sales of property, plant and equipment 156 106
Net cash used in investing activities (79,965) (37,614)
FINANCING ACTIVITIES    
Borrowings under line of credit 257,047 258,500
Principal payments under line of credit (15,700) (41,000)
Repurchases of common stock (4,008) (5,145)
Proceeds from employee stock purchase and option plans 300 397
Financing costs 10 0
Net cash provided by (used in) financing activities 237,649 212,752
Net decrease in cash and cash equivalents 3,671 1,094
Cash and cash equivalents, beginning of period 1,292 1,959
Cash and cash equivalents, end of period 4,963 3,053
Supplemental Disclosure:    
Cash paid for interest, net of capitalized interest 0 0
Cash paid for income taxes, net 2,003 1,444
Supplemental non-cash investing and financing disclosure:    
Capital expenditures in accounts payable and accrued expenses $ 20,834 $ 851