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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities    
Net income $ 130,323 $ 93,923
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,816 3,816
Equity-based awards 7,274 3,351
Gain on asset disposals (59) (196)
Non-cash interest expense 1,370 503
Deferred income tax provision 2,030 2,338
Loss on change in fair value of contingent consideration 11,022 0
(Increase) decrease in assets:    
Accounts receivable (41,235) (19,031)
Inventories (88,158) 47,146
Prepaid expenses and other assets (17,770) (16,767)
Deposits (160) (152)
Increase (decrease) in liabilities:    
Accounts payable 33,624 11,124
Other payables and accrued expenses 8,096 5,662
Tax receivable agreement liability 313 0
Customer deposits 4,637 21,478
Net cash provided by operating activities 62,123 153,195
Cash flows from investing activities    
Purchases of property and equipment and construction in progress (11,649) (7,802)
Proceeds from disposal of property and equipment 122 168
Cash used in acquisitions (326,089) (83,486)
Net cash used in investing activities (337,616) (91,120)
Cash flows from financing activities    
Net borrowings from floor plan 103,103 (27,455)
Proceeds from long-term debt 240,000 30,000
Payments of long-term debt (18,090) (7,237)
Payments of debt issuance costs (4,057) (701)
Payments of September 2020 offering costs 0 (540)
Payments of contingent consideration (133) 0
Payments of tax withholdings for equity-based awards (923) (449)
Distributions to members (6,457) (3,160)
Net cash provided by (used in) financing activities 313,443 (9,542)
Net change in cash 37,950 52,533
Cash and restricted cash at beginning of period 73,949 68,153
Cash and restricted cash at end of period 111,899 120,686
Supplemental cash flow disclosures    
Cash paid for interest 9,623 4,925
Cash paid for income taxes 6,344 13,993
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 1,423 1,693
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 46,378 17,224
Dividends and distributions payable 0 27,789
Distributions to members payable $ 0 $ 610