| | | | | | | | | | | | | | |
| | Three Months Ended March 31, |
| | 2026 | | 2025 |
| Cash flows from operating activities: | | | | |
| Net earnings | | $ | 40,285 | | | $ | 37,053 | |
Adjustments to reconcile net earnings to net cash provided by operating
activities: | | | | |
| Depreciation and amortization | | 12,491 | | | 11,014 | |
| Stock compensation expense | | 5,356 | | | 3,810 | |
| Other adjustments | | 970 | | | (105) | |
| Changes in assets and liabilities | | (19,041) | | | (15,315) | |
| Net cash provided by operating activities | | 40,061 | | | 36,457 | |
| | | | | |
| Cash flows from investing activities: | | | | |
| Capital expenditures and intangible assets acquired | | (6,252) | | | (5,559) | |
| Cash paid for acquisitions, net of cash acquired | | — | | | (323) | |
| Proceeds from the sale of assets | | 2 | | | — | |
| Investment in affiliates | | (42) | | | (30) | |
| Net cash used in investing activities | | (6,292) | | | (5,912) | |
| | | | |
| Cash flows from financing activities: | | | | |
| Proceeds from revolving loan | | 52,000 | | | 29,000 | |
| Principal payments on revolving loan | | (47,000) | | | (29,000) | |
| Principal payments on finance leases | | (51) | | | (49) | |
| Proceeds from stock options exercised | | 6,727 | | | 1,668 | |
| Dividends paid | | (30,769) | | | (28,263) | |
| Repurchases of common stock | | (15,690) | | | (5,325) | |
| Net cash used in financing activities | | (34,783) | | | (31,969) | |
| | | | |
| Effect of exchange rate changes on cash | | (683) | | | 1,810 | |
| | | | |
| (Decrease) increase in cash and cash equivalents | | (1,697) | | | 386 | |
| | | | |
| Cash and cash equivalents, beginning of period | | 74,570 | | | 49,515 | |
| Cash and cash equivalents, end of period | | $ | 72,873 | | | $ | 49,901 | |
