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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income $ 53,079 $ 125,029
Reconciliation of net income to net cash provided by operating activities:    
Depreciation and amortization 31,262 28,264
Deferred financing cost amortization 126 126
Stock-based compensation 6,436 5,257
Provision for expected credit losses 341 255
Inventory obsolescence 3,376 1,708
(Gain) loss on disposal of assets (1,810) 820
Deferred income taxes 5,182 15,072
(Gain) loss from revaluation of liability related to tax receivable agreement 555 (558)
Changes in operating assets and liabilities:    
Accounts receivable 48,190 (8,326)
Inventories 19,188 (14,513)
Prepaid expenses and other assets 1,127 4,032
Accounts payable (23,753) (4,334)
Accrued expenses and other liabilities (7,607) 4,694
Payments pursuant to tax receivable agreement (14,207) (9,335)
Net cash provided by operating activities 121,485 148,191
Cash flows from investing activities    
Capital expenditures and other (21,908) (40,526)
Proceeds from sale of assets 5,414 2,811
Net cash used in investing activities (16,494) (37,715)
Cash flows from financing activities    
Payments on finance leases (4,298) (5,660)
Dividends paid to Class A common stock shareholders (12,847) 0
Distributions to members (15,560) (5,853)
Repurchases of shares (1,385) (1,529)
Net cash used in financing activities (34,090) (13,042)
Effect of exchange rate changes on cash and cash equivalents 437 (730)
Net increase in cash and cash equivalents 71,338 96,704
Cash and cash equivalents    
Beginning of period 202,603 70,841
End of period 273,941 167,545
Supplemental disclosure of cash flow information    
Property and equipment acquired under finance leases 2,018 2,921
Property and equipment in payables $ 621 $ 4,968