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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows from operating activities      
Net income $ 145,122 $ 67,470 $ 59,215
Reconciliation of net income to net cash provided by operating activities:      
Depreciation and amortization 34,124 36,308 40,520
Deferred financing cost amortization 165 168 168
Stock-based compensation 10,631 8,620 8,599
Provision for expected credit losses 406 310 342
Inventory obsolescence 2,739 3,490 4,840
Gain on disposal of assets (1,391) (1,386) (2,480)
Deferred income taxes 25,299 4,829 6,948
(Gain) loss from revaluation of liability related to tax receivable agreement 1,910 (898) 555
Changes in operating assets and liabilities:      
Accounts receivable (49,349) (45,492) 44,829
Inventories (44,891) (36,083) 18,201
Prepaid expenses and other assets (3,108) (2,789) 6,177
Accounts payable 5,803 22,281 (19,434)
Accrued expenses and other liabilities 2,090 16,628 (10,893)
Payments pursuant to tax receivable agreement (11,666) (9,697) (14,207)
Net cash provided by operating activities 117,884 63,759 143,380
Cash flows from investing activities      
Capital expenditures and other (28,291) (13,939) (24,493)
Proceeds from sale of assets 2,755 2,306 6,346
Net cash used in investing activities (25,536) (11,633) (18,147)
Cash flows from financing activities      
Payment of deferred financing costs (353) 0 0
Payments on finance leases (6,055) (5,205) (5,317)
Dividends paid to Class A common stock shareholders (26,719) (21,158) (17,140)
Distributions to members (9,692) (9,742) (16,304)
Repurchases of shares (4,563) (3,283) (1,445)
Net cash used in financing activities (47,382) (39,388) (40,206)
Effect of exchange rate changes on cash and cash equivalents (2,108) 272 1,029
Net increase in cash and cash equivalents 42,858 13,010 86,056
Cash and cash equivalents      
Beginning of period 301,669 288,659 202,603
End of period $ 344,527 $ 301,669 $ 288,659