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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities      
Net (loss) income $ (164,438) $ (5,240) $ 67,854
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Depreciation, amortization and other 57,389 47,919 40,056
Equity-based compensation 10,534 16,591 12,994
Amortization of debt issuance costs and debt discounts 1,274 902 1,118
Loss on debt extinguishment 494 0 675
Gain on tax receivable agreement liability adjustment (100,223) 0 0
Deferred tax expense (benefit) 123,124 (17,414) (361)
Other 4,090 5,244 1,403
Changes in operating assets and liabilities, net of amounts acquired:      
Accounts receivable, net 40,513 19,075 (56,648)
Inventory 122,479 (82,214) (107,166)
Prepaid expenses and other assets 3,242 (7,263) 3,700
Accounts payable (17,968) 11,043 26,933
Income taxes payable 75 (15,018) 15,585
Accrued royalties (14,723) 9,082 17,633
Accrued expenses and other liabilities (34,927) (22,841) 63,586
Net cash provided by (used in) operating activities 30,935 (40,134) 87,362
Investing Activities      
Purchase of property and equipment (35,131) (59,148) (27,759)
Acquisitions of business and intangible assets, net of cash acquired (5,364) (19,479) 199
Other 699 562 179
Net cash used in investing activities (39,796) (78,065) (27,381)
Financing Activities      
Borrowings on line of credit 71,000 120,000 0
Payments on line of credit (20,500) (50,000) 0
Debt issuance costs (1,957) (405) (1,055)
Proceeds from long-term debt, net 0 20,000 180,000
Payment of long-term debt (22,581) (18,000) (198,375)
Contingent consideration 0 0 (2,000)
Distributions to continuing equity owners (1,118) (10,710) (9,277)
Payments under tax receivable agreement (4) (7,718) (1,715)
Proceeds from exercise of equity-based options 756 1,472 3,794
Net cash provided by (used in) financing activities 25,596 54,639 (28,628)
Effect of exchange rates on cash and cash equivalents 518 (797) (51)
Net change in cash and cash equivalents 17,253 (64,357) 31,302
Cash and cash equivalents at beginning of period 19,200 83,557 52,255
Cash and cash equivalents at end of period 36,453 19,200 83,557
Supplemental Cash Flow Information      
Cash paid for interest 24,635 8,856 5,679
Income tax payments 1,059 22,363 1,462
Establishment of liabilities under tax receivable agreement 0 30,034 20,691
Issuance of equity instruments for acquisitions 0 1,487 0
Tenant allowance $ 0 $ 17,236 $ 0