XML 18 R6.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 7,259 $ 196,181  
Adjustments to reconcile net income to cash flows provided by operating activities:      
Depreciation and amortization 32,499 31,812  
Stock-based compensation expense 4,695 6,517  
Other non-cash items 877 1,771  
Changes in assets and liabilities, net of acquisitions of businesses:      
Accounts receivable, net (123,072) (240,404)  
Inventories, net 131,708 (31,278)  
Prepaid expenses and other assets 5,577 20,495  
Accounts payable, trade 25,822 57,808  
Accrued expenses and other liabilities (10,689) 92,024  
Net cash flows provided by operating activities 74,676 134,926  
Cash flows from investing activities:      
Capital expenditures (17,159) (42,037)  
Acquisitions of businesses (6,250) (50,089)  
Other investing activities 1,960 (219)  
Net cash flows used in investing activities (21,449) (92,345)  
Cash flows from financing activities:      
Vesting of stock-based awards, net of shares tendered for payment of taxes (8,888) (10,569)  
Proceeds from revolving credit facility 165,300 372,400  
Repayments under revolving credit facility (201,385) (330,600)  
Repayments under shelf loan, term loan, and other borrowings (5,276) (55,642)  
Payment of dividends (26,563) (22,870)  
Payment of contingent consideration and holdbacks related to acquisitions 0 (2,031)  
Other financing activities (12) (4)  
Net cash flows used in financing activities (76,824) (49,316)  
Effect of exchange rate changes on cash and cash equivalents (437) (712)  
Net decrease in cash and cash equivalents (24,034) (7,447)  
Cash and cash equivalents at beginning of period 47,499 62,896 $ 62,896
Cash and cash equivalents cash at end of period 23,465 55,449 $ 47,499
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 9,052 3,943  
Cash paid during the period for income taxes, net of refunds 390 192  
Purchase of property and equipment in accrued expenses $ 2,304 $ 2,400