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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 36,034 $ 30,857
Less: loss on sale of discontinued operations 0 (1,401)
Income from continuing operations 36,034 32,258
Adjustments to reconcile net income to net cash provided by operating activities from continuing operations:    
Depreciation 22,044 26,173
Amortization of intangible assets 35,876 34,738
Amortization of debt issuance costs and debt discount 1,620 1,617
Inventory fair value purchase accounting adjustment 0 234
Provision for expected credit losses 2,102 2,017
Stock-based compensation 4,319 3,056
Loss (gain) on disposal or sale of assets 807 (54)
Right-of-use assets non-cash expense 22,716 20,586
Deferred income taxes 3,737 63
Change in assets and liabilities, net of effects of acquisitions:    
Accounts receivable (715) (32,949)
Other receivables 19,744 10,520
Inventories 26,828 5,623
Prepaid expenses and other current assets (3,361) (4,198)
Other assets 8 (187)
Accounts payable (1,720) 2,417
Accrued payroll and employee benefits (3,219) 214
Accrued taxes 1,495 (860)
Operating lease liabilities (22,336) (20,034)
Other liabilities 1,205 6,019
Net cash provided by operating activities from continuing operations 147,184 87,253
Cash flows from investing activities from continuing operations:    
Purchases of property and equipment (22,015) (29,369)
Proceeds from termination of net investment hedge 0 3,313
Net (payments of) proceeds from net working capital adjustments related to acquisitions (44) 461
Proceeds from disposal or sale of assets 1,194 2,719
Acquisitions, net of cash acquired (12,163) (21,882)
Net cash used in investing activities from continuing operations (33,028) (44,758)
Cash flows from financing activities from continuing operations:    
Proceeds from asset-based revolving credit facility 403,000 403,454
Repayments of asset-based revolving credit facility (482,500) (415,178)
Principal payments for term loan (3,375) (3,375)
Payment related to tax receivable agreement (27,850) (16,667)
Tax withholding payment related to net settlement of equity awards (382) (155)
Principal repayment of finance lease liabilities (2,066) (2,002)
Net cash used in financing activities from continuing operations (113,173) (33,923)
Net cash used in investing activities from discontinued operations 0 (1,401)
Net cash used in discontinued operations 0 (1,401)
Effect of exchange rate changes on cash (74) 198
Net increase in cash 909 7,369
Cash and cash equivalents at beginning of period 17,766 15,299
Cash and cash equivalents at end of period 18,675 22,668
Supplemental disclosures of cash flow information:    
Cash paid for income taxes 8,109 10,401
Cash paid for interest 19,736 24,150
Supplemental disclosures of non-cash investing and financing activities:    
Decrease in fair value of derivatives, net of tax 1,532 5,663
Net goodwill increase for purchase price allocation $ 33 $ 57