v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities    
Net income $ 70,775 $ 65,034
Depreciation and amortization 30,054 27,951
Debt discount amortization 530 615
Unrealized foreign exchange gains (153) (217)
Loss on modification and extinguishment of debt 721 0
Non-cash lease expense 129 247
Share-based compensation 6,538 4,987
Realized and unrealized gains on short-term investments (86) 0
Deferred taxes 15,066 10,374
Change in operating assets and liabilities:    
Accounts receivable (12,863) (30,600)
Inventories (1,834) (7,996)
Prepaids and other current assets 5,243 (131)
Accounts payable and accrued expenses (31,489) 8,967
Customer trade allowances 5,717 7,934
Net cash provided by operating activities 88,348 87,165
Investing activities    
Purchases of property and equipment (55,161) (36,302)
Acquisition of short-term investments 0 (20,918)
Proceeds from maturity of short-term investments 18,000 0
Acquisition and development of software assets (3,005) (5,607)
Net cash used in investing activities (40,166) (62,827)
Financing activities    
Repayments of long-term debt and lease obligations 0 (5,584)
Debt fees paid (10,306) 0
Proceeds from origination of long-term debt 336,663 0
Payments related to settlement of long-term debt (334,883) 0
Collateral payments (5,980) 0
Repurchase of common stock (19,427) (48,506)
Tax payments related to issuance of shares to employees (5,914) (5,512)
Cash received from exercise of options and warrants 3,165 2,241
Payments on tax receivable agreement (11,135) (9,313)
Net cash used in financing activities (47,817) (66,674)
Effect of exchange rate changes on cash and cash equivalents 419 8
Net increase (decrease) in cash and cash equivalents 784 (42,328)
Cash and cash equivalents at beginning of period 98,584 249,159
Cash and cash equivalents at end of period 99,368 206,831
Cash paid during the period for:    
Interest, net of amounts capitalized 28,077 18,599
Net taxes paid 11,496 11,489
Supplemental disclosure of non-cash investing:    
Accrued capital expenditures $ 9,421 $ 6,358