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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net (loss) income $ 188,461 $ 132,002 $ (12,142)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 12,576 9,852 12,671
Provision for allowances 15,328 6,499 4,269
Deferred income tax expense (benefit) 5,062 (9,927) (932)
Non-cash lease expense 1,850 2,424 3,547
Impairment charges 5,597 2,070 16,248
Loss on early extinguishment of debt 3,728 0 0
Equity compensation 7,393 6,894 5,403
Other non-cash costs 199 1,828 990
Changes in operating assets and liabilities:      
Accounts receivable (153,229) (318,420) (4,745)
Prepaid expenses and other assets (6,915) (3,364) (2,083)
Income taxes (20,111) 7,488 1,348
Accounts payable and accrued expenses 79,712 83,286 7,239
Operating lease liabilities (4,962) (6,753) (5,872)
Other (639) 503 1,263
Net cash provided by (used in) operating activities 134,050 (85,618) 27,204
Cash flows from investing activities      
Acquisitions, net of cash acquired (35,182) (27,970) 0
Acquisition-related settlements 94 1,094 0
Purchases of property and equipment (8,786) (7,170) (4,615)
Net cash used in investing activities (43,874) (34,046) (4,615)
Cash flows from financing activities      
Proceeds from term loan 0 175,000 0
Principal payments on term loan (100,438) (688) 0
Principal payments on note payable (2,426) (2,426) (2,426)
Debt issuance costs (3,237) (6,098) (81)
Borrowings under Senior Secured Asset-Based revolving credit facility 1,700,030 443,544 420,334
Repayments on Senior Secured Asset-Based revolving credit facility (1,632,430) (487,753) (437,900)
Cash paid for shares withheld for taxes (5,267) (2,230) (658)
Payment of contingent consideration (7,500) 0 (79)
Cash payments to noncontrolling shareholder 0 (210) (1,153)
Stock repurchase and retirement (35,285) 0 0
Other (1,046) (45) (47)
Net cash (used in) provided by financing activities (87,599) 119,094 (22,010)
Effect of exchange rate changes on cash (9) 6 (11)
Change in cash and cash equivalents 2,568 (564) 568
Cash and cash equivalents at beginning of year 1,036 1,600 1,032
Cash and cash equivalents at end of year 3,604 1,036 1,600
Supplemental disclosure of cash flow information:      
Interest paid 12,859 5,773 2,666
Income taxes paid $ 82,893 $ 3,608 $ 612