| | | | | | | | | | | | | | |
| | Three Months Ended March 31, |
| | 2025 | | 2024 |
| Cash flows from operating activities: | | | | |
| Net earnings | | $ | 37,053 | | | $ | 28,986 | |
Adjustments to reconcile net earnings to net cash provided by operating
activities: | | | | |
| Depreciation and amortization | | 11,014 | | | 13,668 | |
| Stock compensation expense | | 3,810 | | | 4,750 | |
| Other adjustments | | (105) | | | (949) | |
| Changes in assets and liabilities | | (15,315) | | | (13,067) | |
| Net cash provided by operating activities | | 36,457 | | | 33,388 | |
| | | | | |
| Cash flows from investing activities: | | | | |
| Capital expenditures and intangible assets acquired | | (5,559) | | | (6,910) | |
| Cash paid for acquisitions, net of cash acquired | | (323) | | | — | |
| Proceeds from the sale of assets | | — | | | 213 | |
| Investment in affiliates | | (30) | | | (42) | |
| Net cash used in investing activities | | (5,912) | | | (6,739) | |
| | | | |
| Cash flows from financing activities: | | | | |
| Proceeds from revolving loan | | 29,000 | | | 26,000 | |
| Principal payments on revolving loan | | (29,000) | | | (34,000) | |
| Principal payments on finance leases | | (49) | | | (57) | |
| Proceeds from stock options exercised | | 1,668 | | | 8,791 | |
| Dividends paid | | (28,263) | | | (25,555) | |
| Repurchases of common stock | | (5,325) | | | (5,202) | |
| Net cash used in financing activities | | (31,969) | | | (30,023) | |
| | | | |
| Effect of exchange rate changes on cash | | 1,810 | | | (724) | |
| | | | |
| Increase (decrease) in cash and cash equivalents | | 386 | | | (4,098) | |
| | | | |
| Cash and cash equivalents, beginning of period | | 49,515 | | | 64,447 | |
| Cash and cash equivalents, end of period | | $ | 49,901 | | | $ | 60,349 | |
