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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating Activities      
Net income $ 67,854 $ 9,763 $ 27,820
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and other 40,056 46,742 44,518
Equity-based compensation 12,994 10,116 13,044
Amortization of debt issuance costs and debt discounts 1,118 1,352 1,210
Loss on debt extinguishment 675 0 0
Deferred tax expense (benefit) (361) 3,323 (2,293)
Other 1,403 1,952 635
Changes in operating assets and liabilities:      
Accounts receivable, net (56,648) 20,077 (3,969)
Inventory (107,166) 2,845 25,372
Prepaid expenses and other assets 3,700 12,273 (5,824)
Accounts payable 26,933 (13,303) 4,629
Income taxes payable 15,585 (209) (3,618)
Accrued royalties 17,633 5,906 (4,403)
Accrued expenses and other liabilities 63,586 7,902 (6,356)
Net cash provided by operating activities 87,362 108,739 90,765
Investing Activities      
Purchase of property and equipment (27,759) (18,482) (42,264)
Acquisitions, net of cash 199 0 (6,369)
Other 179 0 0
Net cash used in investing activities (27,381) (18,482) (48,633)
Financing Activities      
Borrowings on line of credit 0 28,267 42,083
Payments on line of credit 0 (55,103) (36,383)
Debt issuance costs (1,055) (569) (411)
Proceeds from long-term debt, net 180,000 0 0
Payment of long-term debt (198,375) (26,438) (11,750)
Contingent consideration (2,000) (1,500) 0
Distributions to continuing equity owners (9,277) (3,575) (23,923)
Payments under tax receivable agreement (1,715) (4,639) (173)
Proceeds from exercise of equity-based options 3,794 219 2,217
Net cash used in financing activities (28,628) (63,338) (28,340)
Effect of exchange rates on cash and cash equivalents (51) 107 (2,049)
Net increase in cash and cash equivalents 31,302 27,026 11,743
Cash and cash equivalents at beginning of period 52,255 25,229 13,486
Cash and cash equivalents at end of period 83,557 52,255 25,229
Supplemental Cash Flow Information      
Cash paid for interest 5,679 9,089 12,313
Income tax payments 1,462 4,167 14,125
Accrual for purchases of property and equipment 0 0 5,362
Establishment of liabilities under tax receivable agreement 20,691 1,000 59,045
Issuance of equity instruments for acquisitions 0 0 2,221
Tenant allowance $ 0 $ 269 $ 3,201