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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 108,537 $ 55,478
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 19,168 16,576
Deferred financing fees amortization 298 239
Amortization of operating lease ROU asset 5,764 5,542
Impairment of long-lived assets 3,522 266
Bargain purchase gain (92,659) 0
Stock-based compensation expense 11,824 1,492
(Gains)/loss on sale of property and equipment (487) 71
(Gains)/loss on lease termination (282) 21
Deferred tax asset, net 783 (10,404)
Equity method earnings, net of dividends 102 (1,099)
Changes in operating assets and liabilities, net of amounts related to acquisitions:    
Accounts receivable, net 27,163 (4,386)
Inventories (19,707) (3,500)
Prepaid expenses and other current assets (4,552) (5,573)
Other long-term assets (210) 995
Accounts payable 1,345 (1,932)
Accrued expenses and other current liabilities (2,608) 6,656
Other operating assets and liabilities, net (907) (5,963)
Net cash used in operating activities 57,094 54,479
Cash flows from investing activities    
Capital expenditures (5,967) (14,345)
Proceeds from sale of property and equipment 2,053 1,088
Equity method investment 0 (18,350)
Cash acquired in stock based business combination 154,312 0
Net cash used in investing activities 150,398 (31,607)
Cash flows from financing activities    
Deferred debt issuance cost 0 (393)
Revolving credit facility borrowings 148,300 198,800
Revolving credit facility payments (171,500) (214,550)
Term loan payments (5,033) (4,150)
Payments on finance leases (4,137) (2,739)
Dividend payment (74,983) 0
Proceeds from exercise of options 3,326 0
Taxes paid related to net share settlement of equity awards (10,185) 0
Net cash provided by financing activities (114,212) (23,032)
Effect of exchange rate changes (791) 51
Net change in cash and restricted cash 92,489 (109)
Cash and restricted cash beginning of year 7,406 8,416
Cash and restricted cash end of year 99,895 8,307
Supplemental cash flow information:    
Cash paid for interest (1,561) (3,776)
Cash paid for income taxes $ (7,041) $ (18,099)