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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 46,742 $ 44,791
Adjustments to reconcile net income to net cash used in operations:    
Depreciation and amortization expense 16,373 15,305
Non-cash operating lease costs 9,002 7,663
Deferred income taxes - net 1,370 2,964
Amortization of deferred financing costs 1,147 1,132
Equity in earnings of joint ventures (1,729) (1,125)
Stock-based incentive compensation expense 8,801 9,605
Distribution from equity method investments 0 750
Other adjustments (949) 108
Changes in operating assets and liabilities:    
Accounts receivable, net (56,788) (195,992)
Inventories 21,790 32,056
Prepaid expenses and other current assets 28,444 4,878
Accounts payable (88,101) 59,223
Accrued compensation and employee benefits (14,458) (49,884)
Accrued expenses and other current liabilities 27,503 6,811
Operating lease liabilities (7,956) (6,651)
Other noncurrent assets and liabilities 1,595 (418)
Net cash used in operating activities (7,214) (68,784)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of property and equipment (9,371) (5,820)
Business acquisitions, net of cash acquired (117,322) 0
Net cash used in investing activities (126,693) (5,820)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Stock-based compensation tax withholdings (7,385) (8,182)
Purchase of company stock, and related excise taxes (100,222) (40,050)
Repayments of debt principal (1,628) (1,500)
Other financing activities 1,949 0
Net cash used in financing activities (107,286) (49,732)
NET DECREASE IN CASH AND CASH EQUIVALENTS (241,193) (124,336)
Cash and cash equivalents - beginning of the period 412,565 343,849
CASH AND CASH EQUIVALENTS - END OF PERIOD 171,372 219,513
Supplemental disclosure of cash flow information:    
Cash paid for interest 10,763 12,173
Cash paid for income taxes 833 2
Cash paid for operating leases $ 7,548 $ 7,085