XML 18 R5.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Adjustments to reconcile net income (loss) to net cash from (used for) operating activities.      
Net income (loss) $ 90,931 $ 121,051 $ (5,595)
Adjustments to reconcile net income (loss) to net cash from (used for) operating activities -      
Depreciation and amortization 20,206 20,954 20,008
(Gain) loss on disposition of property and equipment (2,185) (22) 2,026
Gain on disposition of Detroit operation (before expenses of $2,569) 0 (6,068) 0
Stock-based compensation 1,297 1,045 1,215
Intangibles and other long-term assets 1,304 6,796 (4,349)
Deferred income taxes and other long-term liabilities 235 (6,231) 1,220
Net Cash Provided by (Used in) Operating Activities, Excluding Changes in Working Capital 111,788 137,525 14,525
Changes in working capital:      
Accounts receivable 64,781 (131,459) (14,790)
Inventories 68,098 (241,899) 37,186
Prepaid expenses and other 792 (4,850) 2,112
Accounts payable (52,274) 60,538 23,333
Change in outstanding checks 5,071 (1,189) (6,893)
Accrued payroll and other accrued liabilities (12,403) 34,960 6,179
Increase (Decrease) in Operating Capital, Total 74,065 (283,899) 47,127
Net cash from (used for) operating activities 185,853 (146,374) 61,652
Cash flows from (used for) investing activities:      
Acquisitions 0 (12,105) (19,500)
Capital expenditures (19,854) (11,011) (9,803)
Proceeds from sale of Detroit property and equipment 0 9,506 0
Proceeds from disposition of property and equipment 3,293 146 1,154
Net cash used for investing activities (16,561) (13,464) (28,149)
Cash flows from (used for) financing activities:      
Credit facility revolver borrowings 685,269 757,788 339,538
Credit facility revolver repayments (847,375) (590,632) (371,854)
Principal payments under finance lease obligation (703) (828) (242)
Credit facility fees and expenses (100) (1,325) (124)
Repurchase of common stock 0 0 (145)
Dividends paid (4,006) (886) (885)
Net cash from (used for) financing activities (166,915) 164,117 (33,712)
Cash and cash equivalents:      
Net change 2,377 4,279 (209)
Beginning balance 9,812 5,533 5,742
Ending balance 12,189 9,812 5,533
Interest paid 9,635 6,843 7,002
Income taxes paid $ 33,404 $ 46,548 $ 1