XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:            
Net income (loss) $ (3,760) $ 2,585 $ 122,964 $ 63,282    
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest 0 4,078 (1,391) 14,452    
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax     103,495 6,893    
Income (loss) from continuing operations (5,034) (2,972) 20,860 41,937    
Adjustments to reconcile net income to net cash provided by (used in) operating activities:            
Depreciation expense 12,700 10,800 37,264 31,059    
Amortization expense 26,657 25,152 79,708 67,178    
Amortization of Acquisition Costs     1,135 4,899    
Amortization of debt issuance costs     3,034 2,735    
Impairment expense 32,568 0 32,568 0    
Noncontrolling stockholder stock based compensation     8,885 8,479    
Provision for receivable and inventory reserves     (381) 1,143    
Deferred taxes     (11,784) 8,528    
Gain (Loss) on Extinguishment of Debt 0 534 0 534    
Other     832 762    
Changes in operating assets and liabilities, net of acquisitions:            
Accounts receivable     (20,029) (45,211)    
Inventories     (73,402) (159,978)    
Other current and non-current assets     (2,070) (16,524)    
Accounts payable and accrued expenses     (18,381) (285)    
Cash provided by (used in) operating activities - continuing operations     58,239 (54,744)    
Net Cash Provided by (Used in) Operating Activities, Total     56,952 (39,923)    
Cash Provided by (Used in) Operating Activities, Discontinued Operations     (1,287) 14,821    
Payments to Acquire Businesses, Net of Cash Acquired     (23,298) (564,885)    
Cash flows from investing activities:            
Purchases of property and equipment     (43,648) (39,471)    
Proceeds from Divestiture of Businesses     105,123 6,893    
Other investing activities     (2,055) (1,276)    
Cash provided by (used in) investing activities - continuing operations     36,122 (598,739)    
Cash Provided by (Used in) Investing Activities, Discontinued Operations     68,169 (212)    
Cash flows from financing activities:            
Proceeds from Issuance of Common Stock     (127) 83,889    
Borrowings under credit facility     287,000 169,000    
Repayments under credit facility     (330,000) (56,000)    
Proceeds from Issuance of Other Long-Term Debt     0 400,000    
Repayments of Other Long-Term Debt     7,500 2,500    
Distributions paid - common shares     (54,012) (52,794)    
Distributions paid - preferred shares     (18,136) (18,136)    
Payments to Noncontrolling Interests, Allocation Interests     (26,475) 0    
Payments to Noncontrolling Interests     0 (11,292)    
Net proceeds provided by noncontrolling shareholders     350 1,082    
Proceeds From Minority Shareholders - Acquisitions     0 35,263    
Payments for Repurchase Subsidiary Stock     1,622 1,127    
Payments of Debt Issuance Costs     0 (5,276)    
Other     (16) 19    
Net cash provided by (used in) financing activities     (157,927) 542,128    
Foreign currency impact on cash     150 (2,735)    
Net increase (decrease) in cash and cash equivalents     3,466 (99,481)    
Cash and cash equivalents — beginning of period (1)     61,271 160,733 $ 160,733  
Cash and cash equivalents — end of period (2) 64,737 61,252 64,737 61,252 61,271  
Net Cash Provided by (Used in) Investing Activities, Total     104,291 (598,951)    
Disposal Group, Including Discontinued Operation, Cash   3,700   3,700 $ 3,400 $ 3,600
Gain on sale of discontinued operations, net of income tax $ 1,274 $ 1,479 103,495 6,893    
Payments for Repurchase of Common Stock     $ (7,389) $ 0