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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 52,806 $ 40,065
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 6,262 7,367
Amortization of intangibles and fixed assets 15,206 13,958
Provision for (recovery of) credit losses (277) 834
Payment of contingent consideration liability in excess of acquisition-date fair value (160) (781)
Fair value adjustment on contingent consideration 1,502 2,125
Amortization of debt issuance costs 2,176 1,357
Restricted stock compensation expense 2,211 1,368
Deferred income taxes (10,178) (3,009)
Changes in operating assets and liabilities:    
Accounts receivable, net 2,295 (59,563)
Costs and estimated profits in excess of billings (23,629) (12,988)
Accounts payable and accrued expenses 12,868 40,936
Prepaid expenses and other assets 16,583 2,341
Inventories (3,397) (27,858)
Billings in excess of costs and estimated profits (3,232) 721
Other long-term liabilities (7,261) (4,617)
Net cash provided by operating activities 63,775 2,256
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (7,103) (3,426)
Acquisition of businesses, net of cash acquired (8,848) (48,506)
Net cash used in investing activities (15,951) (51,932)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings on asset-backed credit facility 7,870 577,999
Repayments on asset-backed credit facility (7,870) (537,393)
Repayments under term loan facility (3,276) (2,475)
Debt issuance costs 0 (540)
Payment for acquisition contingent consideration liability (5,090) (469)
Preferred stock dividends paid (67) (67)
Shares repurchased held in treasury (56,215) (18,470)
Payment for employee taxes withheld from stock awards (464) (292)
Principal payments on finance leases (1,632) 0
Net cash (used in) provided by financing activities (66,744) 18,293
Effect of foreign currency on cash 70 (634)
Net change in cash and restricted cash (18,850) (32,017)
Cash and restricted cash at beginning of period 46,117 49,080
Cash and restricted cash at end of period $ 27,267 $ 17,063