v3.25.2
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net income $ 62,906 $ 60,444
Adjustment to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts (11) 508
Depreciation - Property, plant and equipment 13,398 13,279
Depreciation - Rental equipment 5,819 4,814
Amortization of intangibles 8,127 8,114
Amortization of debt issuance 351 351
Stock-based compensation expense 4,670 4,758
Provision for deferred income tax (2,179) (21)
(Gain) Loss on sale of property, plant and equipment (358) 126
Changes in operating assets and liabilities:    
Accounts receivable (37,267) (30,657)
Inventories (16,593) (11,160)
Rental equipment (12,263) (12,198)
Prepaid expenses and other assets 1,923 (3,348)
Trade accounts payable and accrued liabilities 18,494 (34)
Income taxes payable (9,439) 9
Long-term tax payable 0 (2,143)
Other long-term liabilities, net (667) 1,474
Net cash provided by operating activities 36,911 34,316
Investing Activities    
Acquisitions, net of cash acquired (17,571) 0
Purchase of property, plant and equipment (12,971) (11,061)
Proceeds from sale of property, plant and equipment 812 796
Net cash used in investing activities (29,730) (10,265)
Financing Activities    
Borrowings on bank revolving credit facility 50,000 176,000
Repayments on bank revolving credit facility (50,000) (110,250)
Principal payments on long-term debt and finance leases (7,504) (7,564)
Contingent consideration payment from acquisition 0 (4,402)
Dividends paid (7,196) (6,214)
Proceeds from exercise of stock options 1,227 1,422
Common stock repurchased (1,639) (1,819)
Net cash (used in) provided by financing activities (15,112) 47,173
Effect of exchange rate changes on cash and cash equivalents 12,480 (4,608)
Net change in cash and cash equivalents 4,549 66,616
Cash and cash equivalents at beginning of the year 197,274 51,919
Cash and cash equivalents at end of the period 201,823 118,535
Cash paid during the period for:    
Interest 6,861 12,144
Income taxes $ 32,074 $ 21,852