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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Net income $ 44,529 $ 90,931 $ 121,051
Adjustments to reconcile net income to net cash from (used for) operating activities -      
Depreciation and amortization 27,176 20,206 20,954
Gain on disposition of property and equipment (133) (2,185) (22)
Gain on disposition of Detroit operation (before expenses of $2,569) 0 0 (6,068)
Stock-based compensation 1,817 1,297 1,045
Intangibles and other long-term assets (1,257) 1,304 6,796
Deferred income taxes and other long-term liabilities 8,950 235 (6,231)
Net Cash Provided by (Used in) Operating Activities, Excluding Changes in Working Capital 81,082 111,788 137,525
Changes in working capital:      
Accounts receivable 44,576 64,781 (131,459)
Inventories 51,538 68,098 (241,899)
Prepaid expenses and other (2,324) 792 (4,850)
Accounts payable 10,568 (52,274) 60,538
Change in outstanding checks 1,576 5,071 (1,189)
Accrued payroll and other accrued liabilities (11,857) (12,403) 34,960
Increase (Decrease) in Operating Capital 94,077 74,065 (283,899)
Net cash from (used for) operating activities 175,159 185,853 (146,374)
Cash flows from (used for) investing activities:      
Acquisitions (169,768) 0 (12,105)
Capital expenditures (21,326) (19,854) (11,011)
Proceeds from sale of Detroit property and equipment 0 0 9,506
Proceeds from disposition of property and equipment 251 3,293 146
Net cash used for investing activities (190,843) (16,561) (13,464)
Cash flows from (used for) financing activities:      
Credit facility revolver borrowings 743,030 685,269 757,788
Credit facility revolver repayments (718,490) (847,375) (590,632)
Principal payments under finance lease obligation (1,039) (703) (828)
Credit facility fees and expenses (1,216) (100) (1,325)
Dividends paid (5,566) (4,006) (886)
Net cash from (used for) financing activities 16,719 (166,915) 164,117
Cash and cash equivalents:      
Net change 1,035 2,377 4,279
Beginning balance 12,189 9,812 5,533
Ending balance 13,224 12,189 9,812
Interest paid 14,965 9,635 6,843
Income taxes paid $ 13,603 $ 33,404 $ 46,548