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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net income $ 125,029 $ 111,598
Reconciliation of net income to net cash provided by operating activities    
Depreciation and amortization 28,264 21,829
Debt discount and deferred loan cost amortization 126 229
Stock-based compensation 5,257 3,384
Provision for bad debts 255  
Inventory obsolescence 1,708 932
Loss on disposal of assets 820 1,759
Deferred income taxes 15,072 11,762
Loss on debt extinguishment   4,305
Gain from revaluation of liability related to tax receivable agreement (558)  
Changes in operating assets and liabilities:    
Accounts receivable (8,326) (21,761)
Inventories (14,513) (22,866)
Prepaid expenses and other assets 4,032 (3,835)
Accounts payable (4,334) 8,108
Accrued expenses and other liabilities 4,694 6,906
Payments pursuant to tax receivable agreement (9,335)  
Net cash provided by operating activities 148,191 122,350
Cash flows from investing activities    
Capital expenditures and other (40,526) (55,720)
Proceeds from sale of assets 2,811 1,313
Net cash used in investing activities (37,715) (54,407)
Cash flows from financing activities    
Principal payments on long-term debt   (248,529)
Payment of deferred financing costs   (576)
Payments on finance leases (5,660)  
Payments on finance leases   (4,456)
Net proceeds from equity offerings   828,168
Distributions to members (5,853) (31,848)
Redemption of CW Units   (575,681)
Repurchase of shares (1,529)  
Net cash used in financing activities (13,042) (32,922)
Effect of exchange rate changes on cash and cash equivalents (730) (614)
Net increase in cash and cash equivalents 96,704 34,407
Cash and cash equivalents    
Beginning of period 70,841 7,574
End of period $ 167,545 $ 41,981