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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net earnings $ 54,446 $ 154,471
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:    
Depreciation and amortization 51,711 46,451
Provision for losses on accounts receivable 2,269 2,158
Provision for losses on contract assets 3,926 3,038
Non-cash stock-based compensation 17,909 16,900
Net change on revaluation of earnout liabilities 15,364 (24,207)
Deferred income taxes (13,689) (3,535)
Net loss on revaluation of warrant settlement liabilities 25,069 0
Impairment loss on long lived real estate asset 12,588 0
Amortization of debt issuance costs 2,344 2,590
Other adjustments (843) 2,749
Changes in assets and liabilities:    
Increase in accounts receivable (1,128,707) (598,219)
(Increase) decrease in inventories (23,243) 34,366
Decrease in contract assets 36,227 42,911
Decrease (increase) in long-term accounts receivable 103,073 (235,690)
Increase in other assets (61,411) (52,087)
Increase in accounts payable 950,439 734,222
(Decrease) increase in long-term accounts payable (103,511) 237,652
Decrease in accrued expenses and other liabilities (42,962) (70,806)
Net cash (used in) provided by operating activities: (99,001) 292,964
Cash flows from investing activities:    
Proceeds from sale of assets 0 3,970
Purchases of property and equipment (11,978) (18,644)
Acquisitions, net of cash and cash equivalents acquired 0 (264,374)
Net cash used in investing activities: (11,978) (279,048)
Cash flows from financing activities:    
Borrowings on ABL revolving credit facility 3,103,360 2,451,966
Repayments on ABL revolving credit facility (2,322,961) (2,872,410)
Warrants settlement (221,968) 0
Repayment of principal on the Convertible Notes (333,091) (16,895)
Net borrowings (repayments) under inventory financing facilities 2,077 (12,987)
Proceeds from issuance of senior unsecured notes 0 500,000
Payment of debt issuance costs 0 (7,854)
Repurchases of common stock (76,118) (35,000)
Earnout and acquisition related payments 0 (18,296)
Other payments (12,181) (9,147)
Net cash provided by (used in) financing activities: 139,118 (20,623)
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances 21,959 (5,728)
Increase (decrease) in cash, cash equivalents and restricted cash 50,098 (12,435)
Cash, cash equivalents and restricted cash at beginning of period 261,467 270,785
Cash, cash equivalents and restricted cash at end of period $ 311,565 $ 258,350