XML 18 R8.htm IDEA: XBRL DOCUMENT v3.22.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 27,083 $ 15,136
Reconciliation of net income to net cash provided by operating activities:    
Depreciation and amortization 8,677 9,193
Deferred financing cost amortization 42 42
Stock-based compensation 2,666 2,003
Provision for expected credit losses (110) 66
Inventory obsolescence 480 1,308
(Gain) loss on disposal of assets (293) 4
Deferred income taxes 1,919 (4,691)
Loss from revaluation of liability related to tax receivable agreement 1,115 0
Changes in operating assets and liabilities:    
Accounts receivable (14,681) (13,575)
Inventories (16,648) 1,012
Prepaid expenses and other assets (463) (17)
Accounts payable 6,934 791
Accrued expenses and other liabilities 488 4,475
Net cash provided by operating activities 17,209 15,747
Cash flows from investing activities    
Capital expenditures and other (7,652) (2,428)
Proceeds from sale of assets 358 400
Net cash used in investing activities (7,294) (2,028)
Cash flows from financing activities    
Payments on finance leases (1,438) (1,174)
Dividends paid to Class A common stock shareholders (6,664) (4,497)
Distributions to members (1,654) (1,674)
Repurchases of shares (4,424) (3,138)
Net cash used in financing activities (14,180) (10,483)
Effect of exchange rate changes on cash and cash equivalents 337 75
Net increase (decrease) in cash and cash equivalents (3,928) 3,311
Cash and cash equivalents    
Beginning of period 301,669 288,659
End of period 297,741 291,970
Supplemental disclosure of cash flow information    
Right-of-use assets obtained in exchange for new lease obligations 3,984 4,274
Property and equipment in accounts payable $ 1,574 $ 362