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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 103,027 $ 64,431
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and amortization expense 49,723 52,820
Non-cash operating lease costs 14,451 11,137
Deferred income taxes - net 37,631 1,180
Loss on extinguishment of debt 0 12,403
Amortization of deferred financing costs 3,206 3,821
Equity in earnings of joint ventures (4,065) (4,567)
Stock-based incentive compensation expense 12,581 6,246
Capital distribution from equity method investments 2,500 1,250
Other adjustments 695 1,372
Changes in operating assets and liabilities:    
Accounts receivable, net (23,153) (27,310)
Inventories (52,749) (31,472)
Prepaid expenses and other current assets (10,335) 5,958
Accounts payable 129,859 35,648
Accrued compensation and employee benefits (26,711) 5,777
Accrued expenses and other current liabilities 19,495 18,353
Operating lease liabilities (15,372) (14,620)
Other noncurrent assets and liabilities (16,691) 832
Net cash provided by operating activities 224,092 143,259
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of property and equipment (17,111) (11,744)
Business acquisitions, net of cash acquired (87,315) (18,852)
Net cash used in investing activities (104,426) (30,596)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Exercise of stock options, vesting of restricted stock, and related tax withholdings (37) (93)
Proceeds from warrant exercises 20,916 0
Proceeds from issuance of debt 0 355,200
Repayments of debt (4,500) (8,832)
Retirement of debt 0 (352,009)
Deferred financing costs 0 (2,880)
Debt prepayment fees 0 (2,458)
Net cash provided by (used in) financing activities 16,379 (11,072)
NET INCREASE IN CASH AND CASH EQUIVALENTS 136,045 101,591
Cash and cash equivalents - beginning of the period 119,423 99,265
CASH AND CASH EQUIVALENTS - END OF PERIOD 255,468 200,856
Supplemental disclosure of cash flow information:    
Cash paid for interest 29,578 52,002
Cash paid for income taxes 6,690 2,719
Cash paid for operating leases $ 18,964 $ 19,631