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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 112,874 $ 84,747
Reconciliation of net income to net cash provided by operating activities:    
Depreciation and amortization 30,047 35,024
Deferred financing cost amortization 560 3,545
Stock-based compensation 10,373 9,164
Provision for expected credit losses 589 1,515
Inventory obsolescence 3,035 1,980
Gain on disposal of assets (1,674) (1,632)
Deferred income taxes 7,915 1,079
Change in fair value of earn-out liability 16,180 18,023
Gain from revaluation of liability related to tax receivable agreement 0 (3,417)
Changes in operating assets and liabilities:    
Accounts receivable (358) (20,107)
Inventories (4,340) 41,185
Prepaid expenses and other assets 429 965
Accounts payable (8,577) 1,236
Accrued expenses and other liabilities 12,442 (4,789)
Payments pursuant to tax receivable agreement (15,277) 0
Net cash provided by operating activities 164,218 168,518
Cash flows from investing activities    
Acquisition of a business, net of cash and cash equivalents acquired 0 (618,857)
Capital expenditures and other (17,371) (23,700)
Proceeds from sales of assets 3,317 3,038
Net cash used in investing activities (14,054) (639,519)
Cash flows from financing activities    
Proceeds from the issuance of long-term debt 0 155,000
Repayments of borrowings of long-term debt 0 (100,000)
Net proceeds from the issuance of Class A common stock 0 169,878
Payments of deferred financing costs 0 (6,817)
Payments on finance leases (3,954) (3,594)
Dividends paid to Class A common stock shareholders (16,135) (14,469)
Distributions to members (8,617) (4,712)
Repurchases of shares (8,489) (4,599)
Net cash (used in) provided by financing activities (37,195) 190,687
Effect of exchange rate changes on cash and cash equivalents (258) (303)
Net increase (decrease) in cash and cash equivalents 112,711 (280,617)
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 246,503 63,910
Supplemental disclosure of cash flow information    
Net cash paid for income taxes 18,977 10,814
Cash paid for interest 1,077 3,555
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new lease obligations 8,425 6,923
Property and equipment in accounts payable $ 1,907 $ 1,703