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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 71,755 $ 130,323
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 19,126 10,816
Equity-based awards 7,185 7,274
Loss (gain) on asset disposals 282 (59)
Non-cash interest expense 9,432 1,370
Deferred income tax provision 2,826 2,030
Change in fair value of contingent consideration 763 11,022
Loss on equity investment 184 0
(Increase) decrease in assets:    
Accounts receivable (35,825) (41,235)
Inventories (193,722) (88,158)
Prepaid expenses and other current assets (12,958) (17,770)
Other assets (2,866) (160)
Increase (decrease) in liabilities:    
Accounts payable 12,372 33,624
Other payables and accrued expenses (2,414) 8,096
Tax receivable agreement liability 0 313
Customer deposits (10,337) 4,637
Net cash (used in) provided by operating activities (134,197) 62,123
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment and construction in progress (17,001) (11,649)
Proceeds from disposal of property and equipment 326 122
Cash used for additions to intangible assets (1,467) 0
Cash used in acquisitions, net of cash acquired (28,611) (326,089)
Net cash used in investing activities (46,753) (337,616)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net borrowings from floor plan 175,434 103,103
Proceeds from long-term debt 30,000 240,000
Payments on long-term debt (17,756) (18,090)
Payments of debt issuance costs 0 (4,057)
Payments of contingent consideration (12,259) (133)
Payments of tax withholdings for equity-based awards (1,140) (923)
Proceeds from issuance of Class A common stock as part of employee stock purchase plan 1,063 0
Distributions to members (613) (6,457)
Repurchase and retirement of Class A common stock (1,579) 0
Net cash provided by financing activities 173,150 313,443
Effects of exchange rate changes on cash and restricted cash 15 0
Net change in cash (7,785) 37,950
Cash and restricted cash at beginning of period 60,947 73,949
Cash and restricted cash at end of period 53,162 111,899
Supplemental cash flow disclosures:    
Cash paid for interest 33,520 9,623
Cash paid for income taxes 21,949 6,344
Noncash items:    
Acquisition purchase price funded by seller notes payable 0 1,126
Acquisition purchase price funded by contingent consideration 2,550 15,321
Acquisition purchase price funded by issuance of Class A common stock 0 6,834
Purchase of property and equipment funded by long-term debt 1,053 1,423
Right-of-use assets obtained in exchange for new operating lease liabilities 14,826 46,378
Acquisition purchase price funded by affiliate financing 10,600 0
Settlement of affiliate financing with proceeds from sale and leaseback $ 10,600 $ 0