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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 96,825 $ 65,683
Adjustments to reconcile net income to net cash provided by operating activities:    
Inventory step-up amortization 0 1,598
Depreciation and amortization 23,933 17,420
Amortization of debt discount and issuance costs 905 5,690
Stock-based compensation expense 14,900 13,684
Deferred income taxes, net 738 5,266
Contingent consideration (9,295) 0
Other 276 103
Changes in operating assets and liabilities, excluding impact of acquisitions:    
Accounts receivable (8,433) (31,940)
Inventories (58,106) (42,773)
Prepaid expenses and other assets 2,402 (563)
Operating lease right of use assets (21,457) (3,582)
Other assets (406) 1,748
Accounts payable 6,322 8,317
Accrued expenses (4,014) 4,467
Operating Lease Liabilities 23,852 (3,713)
Long-term liabilities 392 (1,655)
Total cash provided by operating activities 68,834 46,913
Cash flows from investing activities:    
Acquisitions, net of cash acquired 0 71
Additions to capitalized software costs (1,875) (2,191)
Purchases of property, plant and equipment (52,576) (24,078)
Other investing activities 17 0
Total cash used in investing activities (54,434) (26,198)
Cash flows from financing activities:    
Proceeds from exercise of stock options 463 860
Payment of tax withholding obligation on vesting of restricted stock (14,759) 0
Repayment of Convertible Senior Notes (18) (8)
Total cash (used in) provided by financing activities (14,314) 852
Effect of exchange rate changes on cash, cash equivalents and restricted cash (7,388) (4,532)
Net (decrease) increase in cash, cash equivalents and restricted cash (7,302) 17,035
Cash, cash equivalents and restricted cash, beginning of period 603,814 717,292
Cash and cash equivalents, end of period 596,512 734,327
Supplemental disclosure of non-cash investing and financing activities:    
Assets acquired under operating leases $ 21,739 $ 28,605