v3.26.1
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net income $ 60,124 $ 62,906
Adjustment to reconcile net income to net cash provided by operating activities:    
Provision for doubtful accounts (230) (11)
Depreciation - Property, plant and equipment 13,240 13,398
Depreciation - Rental equipment 5,927 5,819
Amortization of intangibles 9,894 8,127
Amortization of debt issuance 343 351
Stock-based compensation expense 3,613 4,670
Provision for deferred income tax expense (benefit) 3,195 (2,179)
Gain on sale of property, plant and equipment (682) (358)
Changes in operating assets and liabilities:    
Accounts receivable (62,851) (37,267)
Inventories (31,313) (16,593)
Rental equipment (958) (12,263)
Prepaid expenses and other assets 814 1,923
Trade accounts payable and accrued liabilities 14,453 18,494
Income taxes payable 9,427 (9,439)
Other long-term liabilities, net (2,339) (667)
Net cash provided by operating activities 22,657 36,911
Investing Activities    
Acquisitions, net of cash acquired (162,933) (17,571)
Purchase of property, plant and equipment (10,319) (12,971)
Proceeds from sale of property, plant and equipment 1,621 812
Net cash used in investing activities (171,631) (29,730)
Financing Activities    
Borrowings on bank revolving credit facility 120,000 50,000
Repayments on bank revolving credit facility (57,500) (50,000)
Principal payments on long-term debt and finance leases (5,016) (7,504)
Debt issuance cost (2,286) 0
Dividends paid (8,201) (7,196)
Proceeds from exercise of stock options 1,032 1,227
Common stock repurchased (10,759) (1,639)
Net cash provided by (used) in financing activities 37,270 (15,112)
Effect of exchange rate changes on cash and cash equivalents (2,960) 12,480
Net change in cash and cash equivalents (114,664) 4,549
Cash and cash equivalents at beginning of the year 309,659 197,274
Cash and cash equivalents at end of the period 194,995 201,823
Cash paid during the period for:    
Interest 9,569 6,861
Income taxes $ 9,080 $ 32,074