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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 39,208 $ 30,275
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and amortization expense 15,225 15,979
Non-cash operating lease costs 5,540 3,884
Deferred income taxes - net 8,626 12,996
Amortization of deferred financing costs 1,083 1,049
Equity in earnings of joint ventures (1,437) (1,267)
Stock-based incentive compensation expense 5,988 4,178
Proceeds from Equity Method Investment, Distribution 2,500 0
Other adjustments 198 291
Changes in operating assets and liabilities:    
Accounts receivable, net (17,812) (28,766)
Inventories (25,362) (34,089)
Prepaid expenses and other current assets 9,977 (6,241)
Accounts payable 70,127 76,872
Accrued compensation and employee benefits (28,356) (41,481)
Accrued expenses and other current liabilities 14,831 13,520
Operating lease liabilities (5,271) (4,246)
Other noncurrent assets and liabilities (5,313) (10,273)
Net cash provided by operating activities 89,752 32,681
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of property and equipment (5,760) (5,359)
Net cash used in investing activities (5,760) (5,359)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Exercise of stock options, vesting of restricted stock, and related tax withholdings (1,902) 355
Repayments of debt principal (1,500) (1,500)
Purchase of company stock (75,000) 0
Other financing activities (2,000) 0
Net cash used in financing activities (80,402) (1,145)
NET INCREASE IN CASH AND CASH EQUIVALENTS 3,590 26,177
Cash and cash equivalents - beginning of the period 294,186 119,423
CASH AND CASH EQUIVALENTS - END OF PERIOD 297,776 145,600
Supplemental disclosure of cash flow information:    
Cash paid for interest 11,161 5,104
Cash paid for income taxes 0 61
Cash paid for operating leases $ 6,527 $ 6,242