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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 65,840 $ 42,367
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 6,541 2,341
Equity-based awards 4,813 2,205
Gain on asset disposals (14) (136)
Non-cash interest expense 626 393
Deferred income tax provision 3,463 1,787
Loss on change in fair value of contingent consideration 7,904 0
(Increase) decrease in assets:    
Accounts receivable (44,119) (22,417)
Inventories (113,879) (30,551)
Prepaid expenses and other current assets (14,189) 1,083
Deposits (50) (128)
Increase (decrease) in liabilities:    
Accounts payable 26,363 12,971
Other payables and accrued expenses 4,810 (126)
Tax receivable agreement liability 313 0
Customer deposits 8,156 20,792
Net cash (used in) provided by operating activities (43,422) 30,581
Cash flows from investing activities    
Purchases of property and equipment and construction in progress (7,993) (5,126)
Proceeds from disposal of property and equipment 22 118
Cash used in acquisitions (288,894) (85,499)
Net cash used in investing activities (296,865) (90,507)
Cash flows from financing activities    
Net borrowings from floor plan 140,619 55,751
Proceeds from long-term debt 240,000 30,000
Payments on long-term debt (13,842) (3,334)
Payments of debt issuance costs (4,053) (653)
Payments of September 2020 offering costs 0 (540)
Payments of contingent consideration (53) 0
Payments of tax withholdings for equity-based awards (923) (449)
Distributions to members (6,453) (1,520)
Net cash provided by financing activities 355,295 79,255
Net change in cash 15,008 19,329
Cash and restricted cash at beginning of period 73,949 68,153
Cash and restricted cash at end of period 88,957 87,482
Supplemental cash flow disclosures    
Cash paid for interest 5,925 2,996
Cash paid for income taxes 6,310 7,480
Noncash items    
Acquisition purchase price funded by seller notes payable 1,126 2,056
Acquisition purchase price funded by contingent consideration 15,321 5,482
Acquisition purchase price funded by issuance of Class A common stock 6,834 0
Purchase of property and equipment funded by long-term debt 529 1,280
Initial operating lease right-of-use assets for adoption of Topic 842 0 71,835
Right-of-use assets obtained in exchange for new operating lease liabilities $ 36,174 $ 17,131