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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 90,483 $ 92,410
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 91,629 74,093
Gain on disposition of business (249)  
Loss on sale or abandonment of property and equipment 546 215
Write-off of certain intangible assets and other long-term assets 152 401
Amortization of right-of-use operating lease assets 8,693 9,043
Fair value adjustments related to contingent consideration liabilities 1,198 292
Amortization of deferred credits (77) (77)
Amortization and write-off of long-term debt issuance costs 4,242 4,431
Stock-based compensation expense 33,563 18,958
Changes in operating assets and liabilities, net of acquisitions:    
Trade receivables (13,656) (9,540)
Other receivables 2,116 (4,670)
Inventories (15,073) (2,844)
Prepaid expenses and other current assets (3,038) (5,871)
Income tax refund receivables (140) (7,530)
Other assets (1,829) (3,860)
Trade payables 3,428 (6,489)
Accrued expenses 4,849 (614)
Income taxes payable 3,485 (2,246)
Deferred compensation payable (2,114) 2,051
Operating lease liabilities (8,578) (9,056)
Other long-term obligations (769) 2,958
Total adjustments 108,378 59,645
Net cash, cash equivalents, and restricted cash provided by operating activities 198,861 152,055
Capital expenditures for:    
Property and equipment (57,252) (31,668)
Intangible assets (2,327) (2,138)
Proceeds from the sale of property and equipment 49 5
Proceeds from disposition of business 249  
Cash paid for notes receivable and other investments (14,936) (10,223)
Cash paid in acquisitions, net of cash acquired (122,834) (110,182)
Net cash, cash equivalents, and restricted cash used in investing activities (197,051) (154,206)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 22,179 15,424
Payments on long-term debt   (76,063)
Contingent payments related to acquisitions (2,645) (209)
Payment of taxes related to an exchange of common stock (8,597) (1,592)
Net cash, cash equivalents, and restricted cash provided by (used in) financing activities 10,937 (62,440)
Effect of exchange rates on cash, cash equivalents, and restricted cash 3,047 724
Net (decrease) increase in cash, cash equivalents and restricted cash 15,794 (63,867)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Beginning of period 378,767 589,144
End of period 394,561 525,277
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS:    
Cash and cash equivalents 392,457 523,128
Restricted cash reported in prepaid expenses and other current assets $ 2,104 $ 2,149
Restricted Cash and Cash Equivalents, Current, Statement of Financial Position [Extensible Enumeration] Prepaid Expense and Other Assets, Current Prepaid Expense and Other Assets, Current
Total cash, cash equivalents and restricted cash $ 394,561 $ 525,277
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest (net of capitalized interest of $934 and $712, respectively) 25,890 20,977
Income taxes 23,323 33,054
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Property and equipment purchases in accounts payable 5,022 8,907
Acquisition purchases in accrued expenses and other long-term obligations 4,772 4,894
Merit common stock surrendered (118 and 0 shares, respectively) in exchange for exercise of stock options 10,863  
Right-of-use operating lease assets obtained in exchange for operating lease liabilities $ 30,757 $ 9,191