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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 52,288 $ 27,083
Reconciliation of net income to net cash provided by operating activities:    
Depreciation and amortization 13,110 8,677
Deferred financing cost amortization 291 42
Stock-based compensation 3,841 2,666
Provision for expected credit losses (376) (110)
Inventory obsolescence 576 480
Gain on disposal of assets (1,033) (293)
Deferred income taxes (1,406) 1,919
Change in fair value of earn-out liability (121) 0
(Gain) loss from revaluation of liability related to tax receivable agreement (3,417) 1,115
Changes in operating assets and liabilities:    
Accounts receivable (12,883) (14,681)
Inventories 20,565 (16,648)
Prepaid expenses and other assets 2,151 (463)
Accounts payable (6,282) 6,934
Accrued expenses and other liabilities (6,842) 488
Net cash provided by operating activities 60,462 17,209
Cash flows from investing activities    
Acquisition of a business, net of cash and cash equivalents acquired 618,857 0
Capital expenditures and other (15,928) (7,652)
Proceeds from sales of assets 1,633 358
Net cash used in investing activities (633,152) (7,294)
Cash flows from financing activities    
Proceeds from the issuance of long-term debt 155,000 0
Net proceeds from the issuance of Class A common stock 169,878 0
Payments of deferred financing costs (6,665) 0
Payments on finance leases (1,709) (1,438)
Dividends paid to Class A common stock shareholders (7,353) (6,664)
Distributions to members (1,645) (1,654)
Repurchases of shares (4,343) (4,424)
Net cash provided by (used in) financing activities 303,163 (14,180)
Effect of exchange rate changes on cash and cash equivalents 422 337
Net decrease in cash and cash equivalents (269,105) (3,928)
Cash and cash equivalents    
Beginning of period 344,527 301,669
End of period 75,422 297,741
Supplemental disclosure of cash flow information    
Right-of-use assets obtained in exchange for new lease obligations 4,874 3,984
Property and equipment in accounts payable $ 1,249 $ 1,574