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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 153,611 $ 64,204
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and amortization expense 30,801 33,249
Non-cash operating lease costs 9,334 9,988
Deferred income taxes - net 13,277 24,777
Amortization of deferred financing costs 2,187 2,117
Equity in earnings of joint ventures (2,834) (2,593)
Stock-based incentive compensation expense 13,673 8,576
Capital distribution from equity method investments 2,500 1,000
Other adjustments 361 506
Changes in operating assets and liabilities:    
Accounts receivable, net (18,619) (22,950)
Inventories (38,643) (48,671)
Prepaid expenses and other current assets 654 (5,235)
Accounts payable 88,896 100,924
Accrued compensation and employee benefits (3,949) (26,384)
Accrued expenses and other current liabilities 24,805 18,900
Operating lease liabilities (7,754) (11,032)
Other noncurrent assets and liabilities (9,012) (10,422)
Net cash provided by operating activities 259,288 136,954
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of property and equipment (13,554) (10,055)
Business acquisitions, net of cash acquired (12,855) (59,897)
Net cash used in investing activities (26,409) (69,952)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Exercise of stock options, vesting of restricted stock, and related tax withholdings (2,149) 523
Proceeds from warrant exercises 0 20,098
Repayments of debt principal (3,000) (3,000)
Purchase of company stock (75,000) 0
Other financing activities (5,750) 0
Net cash (used in) provided by financing activities (85,899) 17,621
NET INCREASE IN CASH AND CASH EQUIVALENTS 146,980 84,623
Cash and cash equivalents - beginning of the period 294,186 119,423
CASH AND CASH EQUIVALENTS - END OF PERIOD 441,166 204,046
Supplemental disclosure of cash flow information:    
Cash paid for interest 33,991 21,793
Cash paid for income taxes 21,786 4,966
Cash paid for operating leases $ 13,231 $ 12,435