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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 209,913 $ 103,027
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and amortization expense 46,423 49,723
Non-cash operating lease costs 14,610 14,451
Deferred income taxes - net 11,767 37,631
Amortization of deferred financing costs 3,312 3,206
Equity in earnings of joint ventures (4,107) (4,065)
Stock-based incentive compensation expense 22,908 12,581
Capital distribution from equity method investments 4,000 2,500
Other adjustments 1,769 695
Changes in operating assets and liabilities:    
Accounts receivable, net (5,075) (23,153)
Inventories (28,362) (52,749)
Prepaid expenses and other current assets 3,197 (10,335)
Accounts payable 50,726 129,859
Accrued compensation and employee benefits 4,197 (26,711)
Accrued expenses and other current liabilities 9,829 19,495
Operating lease liabilities (13,019) (15,372)
Other noncurrent assets and liabilities (11,762) (16,691)
Net cash provided by operating activities 320,326 224,092
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of property and equipment (21,981) (17,111)
Business acquisitions, net of cash acquired (12,855) (87,315)
Other investing activities (5,889) 0
Net cash used in investing activities (40,725) (104,426)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Exercise of stock options, vesting of restricted stock, and related tax withholdings (1,940) (37)
Proceeds from warrant exercises 0 20,916
Repayments of debt principal (4,500) (4,500)
Purchase of company stock (175,108) 0
Other financing activities (5,750) 0
Net cash (used in) provided by financing activities (187,298) 16,379
NET INCREASE IN CASH AND CASH EQUIVALENTS 92,303 136,045
Cash and cash equivalents - beginning of the period 294,186 119,423
CASH AND CASH EQUIVALENTS - END OF PERIOD 386,489 255,468
Supplemental disclosure of cash flow information:    
Cash paid for interest 46,377 29,578
Cash paid for income taxes 53,699 6,690
Cash paid for operating leases $ 20,272 $ 18,964