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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Consolidated net (loss) income $ (14,556) $ 72,631 $ 185,982
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 18,200 18,347 12,576
Provision for allowances 20,787 17,355 15,328
Deferred income tax (benefit) expense (1,944) 1,304 5,110
Non-cash lease expense 992 1,111 1,850
Impairment charges 2,888 719 5,597
Loss on early extinguishment of debt 0 1,723 3,728
Equity compensation 6,025 6,579 7,393
Other non-cash costs 99 1,252 199
Changes in operating assets and liabilities:      
Accounts receivable 128,327 251,427 (153,229)
Prepaid expenses and other assets (4,990) 268 (6,915)
Income taxes (2,278) 6,955 (20,908)
Accounts payable and accrued expenses (29,753) (126,611) 82,940
Operating lease liabilities (2,791) (4,371) (4,962)
Other (890) (191) (639)
Net cash provided by operating activities 120,116 248,498 134,050
Cash flows from investing activities      
Acquisitions, net of cash acquired 0 0 (35,182)
Acquisition-related settlements 0 199 94
Purchases of property and equipment (8,714) (13,974) (8,786)
Net cash used in investing activities (8,714) (13,775) (43,874)
Cash flows from financing activities      
Principal payments on term loan 0 (73,875) (100,438)
Principal payments on note payable 0 0 (2,426)
Debt issuance costs 0 0 (3,237)
Borrowings under Senior Secured Asset-Based revolving credit facility 18,024 720,991 1,700,030
Repayments on Senior Secured Asset-Based revolving credit facility (18,024) (797,791) (1,632,430)
Cash paid for shares withheld for taxes (2,960) (4,904) (5,267)
Payment of contingent consideration (6,579) (7,500) (7,500)
Stock repurchase and retirement (37,310) (57,654) (35,285)
Other 0 (508) (1,046)
Net cash used in financing activities (46,849) (221,241) (87,599)
Effect of exchange rate changes on cash (14) 8 (9)
Change in cash and cash equivalents 64,539 13,490 2,568
Cash and cash equivalents at beginning of year 17,094 3,604 1,036
Cash and cash equivalents at end of year 81,633 17,094 3,604
Supplemental disclosure of cash flow information:      
Interest paid 1,373 7,534 12,859
Income taxes paid $ 2,427 $ 21,986 $ 82,893