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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 97,834 $ 153,611
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and amortization expense 30,802 30,801
Non-cash operating lease costs 12,503 9,334
Deferred income taxes - net 9,638 13,277
Loss on extinguishment of debt 377 0
Amortization of deferred financing costs 2,306 2,187
Equity in earnings of joint ventures (2,530) (2,834)
Stock-based incentive compensation expense 17,213 13,673
Capital distribution from equity method investments 750 2,500
Other adjustments (1,383) 361
Changes in operating assets and liabilities:    
Accounts receivable, net (90,642) (18,619)
Inventories (7,417) (38,643)
Prepaid expenses and other current assets (1,745) 654
Accounts payable 107,558 88,896
Accrued compensation and employee benefits (30,206) (3,949)
Accrued expenses and other current liabilities (6,986) 24,805
Operating lease liabilities (11,459) (7,754)
Other noncurrent assets and liabilities 258 (9,012)
Net cash provided by operating activities 126,871 259,288
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of property and equipment (15,597) (13,554)
Business acquisitions, net of cash acquired 0 (12,855)
Net cash used in investing activities (15,597) (26,409)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Stock-based compensation tax withholdings (8,183) (2,149)
Repayments of debt principal (3,128) (3,000)
Proceeds from issuance of debt 49,959 0
Deferred financing costs (77) 0
Purchase of company stock (118,122) (75,000)
Other financing activities 1,300 (5,750)
Net cash used in financing activities (78,251) (85,899)
NET INCREASE IN CASH AND CASH EQUIVALENTS 33,023 146,980
Cash and cash equivalents - beginning of the period 343,849 294,186
CASH AND CASH EQUIVALENTS - END OF PERIOD 376,872 441,166
Supplemental disclosure of cash flow information:    
Cash paid for interest 36,070 33,991
Cash paid for income taxes 32,471 21,786
Cash paid for operating leases $ 14,360 $ 13,231