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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 24,233 $ 18,159
Less: loss on sale of discontinued operations 0 (1,390)
Net income from continuing operations 24,233 19,549
Adjustments to reconcile net income to net cash provided by operating activities from continuing operations:    
Depreciation 14,598 17,558
Amortization of intangible assets 23,909 23,135
Amortization of debt issuance costs and debt discount 1,080 992
Inventory fair value purchase accounting adjustment 0 234
Provision for expected credit losses 1,366 1,525
Stock-based compensation 2,828 1,939
Loss (gain) on disposal or sale of assets 708 (67)
Right-of-use assets non-cash expense 15,057 13,601
Deferred income taxes 3,334 271
Change in assets and liabilities, net of effects of acquisitions:    
Accounts receivable 208 (43,441)
Other receivables 23,435 13,581
Inventories 20,053 (1,291)
Prepaid expenses and other current assets (1,472) (3,123)
Other assets (6) (121)
Accounts payable 1,333 23,429
Accrued payroll and employee benefits (5,802) (3,057)
Accrued taxes 827 (2,291)
Operating lease liabilities (14,752) (13,345)
Other liabilities 4,365 4,126
Net cash provided by operating activities from continuing operations 115,302 53,204
Cash flows from investing activities from continuing operations:    
Purchases of property and equipment (13,263) (15,052)
Proceeds from termination of net investment hedge 0 3,313
Net (payments of) proceeds from net working capital adjustments related to acquisitions (34) 470
Proceeds from disposal or sale of assets 980 2,376
Acquisitions, net of cash acquired (8,638) (21,923)
Net cash used in investing activities from continuing operations (20,955) (30,816)
Cash flows from financing activities from continuing operations:    
Proceeds from asset-based revolving credit facility 322,500 281,620
Repayments of asset-based revolving credit facility (371,500) (291,371)
Principal payments for term loan (2,250) (2,250)
Payment related to tax receivable agreement (27,850) (16,667)
Tax withholding payment related to net settlement of equity awards (370) (138)
Principal repayment of finance lease liabilities (1,355) (1,319)
Net cash used in financing activities from continuing operations (80,825) (30,125)
Net cash used in investing activities from discontinued operations 0 (1,390)
Net cash used in discontinued operations 0 (1,390)
Effect of exchange rate changes on cash (166) 282
Net increase (decrease) in cash 13,356 (8,845)
Cash and cash equivalents at beginning of period 17,766 15,299
Cash and cash equivalents at end of period 31,122 6,454
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 190 5,091
Cash paid for interest 14,186 16,477
Supplemental disclosures of non-cash investing and financing activities:    
Decrease in fair value of derivatives, net of tax 1,525 6,012
Net goodwill increase for purchase price allocation $ 47 $ 57