XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flow from operating activities:    
Net loss $ (81,689) $ (37,841)
Adjustments to reconcile net loss to cash (used in) provided by operations:    
Depreciation and amortization 46,135 43,053
Deferred income tax benefit (11,743) (10,297)
Non-cash stock-based compensation expense 4,446 3,809
Non-cash interest expense (3,578) 10,249
Lower of cost or market inventory valuation adjustment 11,916 0
Other adjustments 4,981 (3,278)
Net change in working capital 29,711 64,833
Change in Tax Receivable Agreement (5,417) (4,631)
Change in long-term assets and liabilities (8,438) 1,372
Net cash (used in) provided by operating activities (13,676) 67,269
Cash flow from investing activities:    
Capital expenditures (21,517) (48,287)
Proceeds from the sale of fixed assets 100 220
Net cash used in investing activities (21,417) (48,067)
Cash flow from financing activities:    
Interest rate swap settlements 0 27,453
Debt issuance and modification costs 0 (8,133)
Proceeds from the issuance of long-term debt, net of original issuance discount 0 438,552
Principal payments on long-term debt 0 (433,708)
Payments for taxes related to net share settlement of equity awards (82) (129)
Dividends paid 0 (5,134)
Principal payments under finance lease obligations (58) (20)
Net cash (used in) provided by financing activities (140) 18,881
Net change in cash and cash equivalents (35,233) 38,083
Effect of exchange rate changes on cash and cash equivalents (239) 83
Cash and cash equivalents at beginning of period 176,878 134,641
Cash and cash equivalents at end of period 141,406 172,807
* Net change in working capital due to changes in the following components:    
Accounts and notes receivable, net 11,201 48,007
Inventories 50,105 69,258
Prepaid expenses and other current assets 2,810 4,974
Income taxes payable (2,616) (31,356)
Accounts payable and accruals (48,666) (43,391)
Interest payable 16,877 17,341
Net change in working capital 29,711 64,833
Net cash paid during the periods for:    
Interest 34,440 1,470
Income taxes 4,377 36,471
Change in capital expenditures in accounts payable $ (7,334) $ (19,098)