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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 54,105 $ 49,815
Reconciliation of net income to net cash provided by operating activities:    
Depreciation and amortization 15,678 15,046
Deferred financing cost amortization 280 280
Stock-based compensation 6,064 4,432
Provision for expected credit losses 133 162
Inventory obsolescence (296) 1,062
Gain on disposal of assets (79) (208)
Deferred income taxes 7,623 4,403
Change in fair value of earn-out liability 0 13,304
Changes in operating assets and liabilities:    
Accounts receivable (28,087) (3,011)
Inventories (3,112) 234
Prepaid expenses and other assets 2,080 128
Accounts payable (7,923) (8,132)
Accrued expenses and other liabilities (4,921) 8,748
Net cash provided by operating activities 41,545 86,263
Cash flows from investing activities    
Investment in unconsolidated affiliate (6,000) 0
Capital expenditures and other (10,230) (7,902)
Proceeds from sales of assets 779 1,094
Net cash used in investing activities (15,451) (6,808)
Cash flows from financing activities    
Payments on finance leases (1,988) (2,031)
Dividends paid to Class A common stock shareholders (9,216) (8,144)
Distributions to members (5,089) (1,684)
Repurchases of shares (5,498) (8,268)
Net cash used in financing activities (21,791) (20,127)
Effect of exchange rate changes on cash and cash equivalents 515 1,137
Net increase in cash and cash equivalents 4,818 60,465
Cash and cash equivalents, beginning of period 342,843 133,792
Cash and cash equivalents, end of period 347,661 194,257
Supplemental disclosure of cash flow information    
Net cash paid for income taxes 23,204 1,611
Cash paid for interest 627 535
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new lease obligations 4,128 4,515
Property and equipment in accounts payable $ 914 $ 2,637