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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Consolidated net income $ 2,692 $ 29,436
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,642 4,904
Provision for allowances 1,170 6,171
Deferred income tax benefit (809) (597)
Non-cash lease expense 241 252
Impairment charges 604 0
Equity compensation 1,198 1,775
Other non-cash costs 203 316
Changes in operating assets and liabilities:    
Accounts receivable 13,724 7,887
Prepaid expenses and other assets (1,227) (471)
Income taxes 1,293 9,897
Accounts payable and accrued expenses (15,492) (11,991)
Operating lease liabilities (785) (1,084)
Other (1,443) 370
Net cash provided by operating activities 6,011 46,865
Cash flows from investing activities    
Purchases of property and equipment (2,210) (3,678)
Acquisition-related settlements 0 182
Net cash used in investing activities (2,210) (3,496)
Cash flows from financing activities    
Borrowings under Senior Secured Asset-Based revolving credit facility 14,166 347,434
Repayments on Senior Secured Asset-Based revolving credit facility (14,166) (357,834)
Cash paid for shares withheld for taxes (2,706) (4,514)
Stock repurchase and retirement (6,368) (31,760)
Payment of contingent consideration (6,579) 0
Other 0 (7)
Net cash used in financing activities (15,653) (46,681)
Effect of exchange rate changes on cash 0 (1)
Change in cash and cash equivalents (11,852) (3,313)
Cash and cash equivalents at beginning of period 17,094 3,604
Cash and cash equivalents at end of period $ 5,242 $ 291