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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net earnings $ 49,972 $ 56,631
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Depreciation and amortization 14,663 13,314
Provision for losses on accounts receivable 1,484 1,031
Non-cash stock-based compensation 6,896 5,007
Deferred income taxes (4,284) (1,715)
Amortization of debt issuance costs 1,213 1,623
Other adjustments 2,122 (106)
Changes in assets and liabilities:    
Decrease (increase) in accounts receivable 197,918 (103,326)
Increase in inventories (1,146) (57,876)
(Increase) decrease in other assets (22,794) 4,111
Decrease in accounts payable (76,783) (137,144)
Decrease in accrued expenses and other liabilities (9,101) (65,789)
Net cash provided by (used in) operating activities: 160,160 (284,239)
Cash flows from investing activities:    
Purchases of property and equipment (9,106) (25,745)
Net cash used in investing activities: (9,106) (25,745)
Cash flows from financing activities:    
Net borrowings under inventory financing facilities 108,257 6,692
Repurchases of common stock (117,129) 0
Other payments (7,988) (6,738)
Net cash (used in) provided by financing activities: (140,654) 319,954
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances 1,652 969
Increase in cash, cash equivalents and restricted cash 12,052 10,939
Cash, cash equivalents and restricted cash at beginning of period 165,718 105,977
Cash, cash equivalents and restricted cash at end of period 177,770 116,916
ABL Facility    
Cash flows from financing activities:    
Borrowings on ABL revolving credit facility 1,016,980 1,151,440
Repayments on ABL revolving credit facility $ (1,140,774) $ (831,440)