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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 19,165 $ 38,252
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 18,509 12,439
Amortization of intangible assets and route and customer acquisition costs 10,526 7,122
Amortization of debt issuance costs 893 1,194
Loss (gain) on change in fair value of contingent earnout shares 9,438 (9,139)
Stock-based compensation 4,255 3,886
Gain on disposal of property and equipment (37) (629)
Net loss on write-off of route and customer acquisition costs and route and customer acquisition costs payable 483 288
Remeasurement of contingent consideration 196 (1,143)
Payments on consideration payable (1,561) (1,649)
Accretion of interest on route and customer acquisition costs payable, contingent consideration, and contingent stock consideration 771 1,402
Deferred income taxes 6,342 7,199
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (405) (756)
Accounts receivable, net 1,453 301
Inventories (366) 294
Income taxes receivable (371) (1,475)
Route and customer acquisition costs (1,226) (2,612)
Route and customer acquisition costs payable (690) 750
Accounts payable and accrued expenses 2,201 (12,679)
Accrued compensation and related expenses (2,568) (1,450)
Other assets (3,163) (384)
Net cash provided by operating activities 63,845 41,211
Cash flows from investing activities:    
Purchases of property and equipment (41,637) (13,221)
Proceeds from the sale of property and equipment 1,142 1,406
Proceeds from the settlement of convertible notes 32,065 0
Advances against a portion of the purchase price on pending business acquisition (3,700) 0
Business and asset acquisitions, net of cash acquired (4,115) (125,452)
Net cash used in investing activities (16,245) (137,267)
Cash flows from financing activities:    
Proceeds from debt 115,000 169,000
Payments on debt (139,250) (13,125)
Payments for repurchase of common stock (12,313) (36,931)
Payments on interest rate caplets (481) (394)
Proceeds from exercise of stock-based awards 0 353
Payments on consideration payable (354) (1,406)
Tax withholding on stock-based payments (881) (59)
Net cash (used in) provided by financing activities (38,279) 117,438
Net increase in cash and cash equivalents 9,321 21,382
Cash and cash equivalents:    
Beginning of period 224,113 198,786
End of period 233,434 220,168
Cash payments for:    
Interest 15,035 6,268
Income taxes 6,200 6,228
Supplemental schedules of noncash investing and financing activities:    
Purchases of property and equipment in accounts payable and accrued liabilities 10,346 8,079
Deferred premium on interest rate caplets 2,544 3,504
Fair value of treasury stock issued in business combination 0 5,584
Purchase of treasury shares in accounts payable and accrued expense 0 2,500
Acquisition of businesses and assets:    
Total identifiable net assets acquired 4,115 164,265
Less cash acquired 0 (33,229)
Less fair value of treasury stock issued 0 (5,584)
Cash purchase price $ 4,115 $ 125,452