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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Consolidated net income $ 114,877 $ 30,996
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 6,200 4,452
Provision for allowances 7,213 1,927
Deferred income tax expense 3,476 2,923
Non-cash lease expense 1,005 1,284
Impairment charges 1,741 2,070
Loss on early extinguishment of debt 1,912 0
Equity compensation 3,715 3,486
Other non-cash (benefits) costs (301) 772
Changes in operating assets and liabilities:    
Accounts receivable (215,230) (76,274)
Prepaid expenses and other assets (424) (64)
Income taxes (9,021) 479
Accounts payable and accrued expenses 78,438 22,014
Operating lease liabilities (2,674) (3,365)
Other (1,824) (122)
Net cash used in operating activities (10,897) (9,422)
Cash flows from investing activities    
Acquisitions, net of cash acquired 0 (24,470)
Purchases of property and equipment (3,848) (3,002)
Net cash used in investing activities (3,848) (27,472)
Cash flows from financing activities    
Proceeds from term loan 0 100,000
Principal payments on term loan (50,438) 0
Debt issuance costs (3,159) (4,465)
Borrowings under Senior Secured Asset-Based revolving credit facility 900,112 273,981
Repayments on Senior Secured Asset-Based revolving credit facility (824,312) (311,400)
Cash paid for shares withheld for taxes (5,267) (2,230)
Principal payments on note payable (2,426) (2,426)
Other (523) (22)
Net cash provided by financing activities 13,987 53,438
Effect of exchange rate changes on cash 1 (17)
Change in cash and cash equivalents (757) 16,527
Cash and cash equivalents at beginning of period 1,036 1,600
Cash and cash equivalents at end of period $ 279 $ 18,127