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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2024
Apr. 02, 2023
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 35,093 $ 30,173  
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 40,335 35,510  
Stock-based compensation expense 5,460 5,242  
Other 853 2,056  
Change in operating assets and liabilities, net of acquisitions of businesses:      
Trade and other receivables, net (89,565) (83,354)  
Inventories 17,781 39,502  
Prepaid expenses and other assets 2,619 6,314  
Accounts payable, accrued liabilities and other 22,600 (36,393)  
Net cash provided by (used in) operating activities 35,176 (950)  
CASH FLOWS FROM INVESTING ACTIVITIES      
Purchases of property, plant and equipment (15,495) (20,266)  
Proceeds from sale of property, plant and equipment 167 92  
Business acquisitions, net of cash acquired (329,642) (478)  
Other investing activities (25,754) (2,925)  
Net cash used in investing activities (370,724) (23,577)  
CASH FLOWS FROM FINANCING ACTIVITIES      
Term debt repayments (1,875) (1,875)  
Borrowings on revolver 688,958 354,324  
Repayments on revolver (313,958) (124,613)  
Repayments of convertible notes 0 (172,500)  
Stock repurchases under buyback program 0 (3,660)  
Cash dividends paid to shareholders (13,013) (10,761)  
Taxes paid for share-based payment arrangements (14,788) (7,499)  
Payment of contingent consideration from a business acquisition (3,500) (1,370)  
Proceeds from exercise of common stock options 0 492  
Other financing activities (75) (75)  
Net cash provided by financing activities 341,749 32,463  
Net increase in cash and cash equivalents 6,201 7,936  
Cash and cash equivalents at beginning of year 11,409 22,847 $ 22,847
Cash and cash equivalents at end of period $ 17,610 $ 30,783 $ 11,409

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