XML 66 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 142,845 $ 108,201 $ 65,123
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 57,403 52,066 34,201
Amortization of debt issuance costs and non-cash interest 1,727 2,136 2,242
Gain on disposal of property and equipment (5,286) (2,637) (1,396)
Gain on debt extinguishment, net 0 (2,428) (2,032)
Gain on disposition of Myers 0 (16,687) 0
Deferred taxes 14,746 36,492 21,428
Stock-based compensation 14,622 12,726 11,771
Change in fair value of interest rate swap 0 (203) (32)
Changes in operating assets and liabilities (Note 18) 252,527 29,450 27,627
Net cash provided by operating activities 478,584 219,116 158,932
Cash flows from investing activities:      
Acquisitions, net of cash acquired (51,177) (18,004) (180,911)
Disposition, net of cash disposed 14,000 (15,789) 0
Capital expenditures (64,379) (60,909) (46,651)
Proceeds from sale of property and equipment 13,804 4,947 4,113
Net cash used in investing activities (87,752) (89,755) (223,449)
Cash flows from financing activities:      
Cash received from credit facility 2,562 0 140,000
Repayments of debt (93,491) (23,373) (48,273)
Distributions to noncontrolling interest owners (2,450) 0 (2,477)
Withholding taxes paid on net share settlement of equity awards (9,567) (9,416) (7,338)
Debt issuance costs (1,572) 0 (1,340)
Other (16) 0 (4)
Net cash used in financing activities (104,534) (32,789) 80,568
Net change in cash, cash equivalents, and restricted cash 286,298 96,572 16,051
Cash, cash equivalents and restricted cash at beginning of period 185,265 88,693 72,642
Cash, cash equivalents and restricted cash at end of period 471,563 185,265 88,693
Less: restricted cash - Continuing Operations 0 (3,721) (3,821)
Less: cash, cash equivalents and restricted cash - Discontinued Operations 0 0 (23,927)
Cash and cash equivalents at end of period - Continuing Operations 471,563 181,544 60,945
Supplemental disclosures of cash flow information:      
Cash paid during the period for interest 27,011 19,322 17,236
Cash paid during the period for income taxes 36,906 5,602 3,061
Non-cash items:      
Share consideration given for acquisitions 0 4,851 20,406
Deferred payments from buyer of Myers 0 18,000 0
Tax basis election and other payments due to sellers 0 0 10,833
Capital expenditures $ 12,506 $ 1,925 $ 264