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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 49,815 $ 52,288
Reconciliation of net income to net cash provided by operating activities:    
Depreciation and amortization 15,046 13,110
Deferred financing cost amortization 280 291
Stock-based compensation 4,432 3,841
Provision for expected credit losses 162 (376)
Inventory obsolescence 1,062 576
Gain on disposal of assets (208) (1,033)
Deferred income taxes 4,403 (1,406)
Change in fair value of earn-out liability 13,304 (121)
Gain from revaluation of liability related to tax receivable agreement 0 (3,417)
Changes in operating assets and liabilities:    
Accounts receivable (3,011) (12,883)
Inventories 234 20,565
Prepaid expenses and other assets 128 2,151
Accounts payable (8,132) (6,282)
Accrued expenses and other liabilities 8,748 (6,842)
Net cash provided by operating activities 86,263 60,462
Cash flows from investing activities    
Acquisition of a business, net of cash and cash equivalents acquired 0 (618,857)
Capital expenditures and other (7,902) (15,928)
Proceeds from sales of assets 1,094 1,633
Net cash used in investing activities (6,808) (633,152)
Cash flows from financing activities    
Proceeds from the issuance of long-term debt 0 155,000
Net proceeds from the issuance of Class A common stock 0 169,878
Payments of deferred financing costs 0 (6,665)
Payments on finance leases (2,031) (1,709)
Dividends paid to Class A common stock shareholders (8,144) (7,353)
Distributions to members (1,684) (1,645)
Repurchases of shares (8,268) (4,343)
Net cash provided by (used in) financing activities (20,127) 303,163
Effect of exchange rate changes on cash and cash equivalents 1,137 422
Net increase (decrease) in cash and cash equivalents 60,465 (269,105)
Cash and Cash Equivalents, at Carrying Value [Abstract]    
Cash and cash equivalents, beginning of period 133,792 344,527
Cash and cash equivalents, end of period 194,257 75,422
Supplemental disclosure of cash flow information    
Net cash paid for income taxes 1,611 556
Cash paid for interest 535 327
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new lease obligations 4,515 4,874
Property and equipment in accounts payable $ 2,637 $ 1,249