XML 16 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating Activities:    
Net income $ 28,646 $ 73,386
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 30,470 29,430
Deferred income taxes (1,207) 3,867
Non-cash stock based compensation 3,383 11,760
Loss on disposition of property and equipment 620 638
Other 881 (650)
Changes in assets and liabilities:    
Accounts receivable, net (55,780) 26,162
Inventory (48,930) (34,019)
Other assets (10,868) 597
Accounts payable 60,983 9,231
Other liabilities 4,759 (3,296)
Net cash provided by operating activities 12,957 117,106
Investing Activities:    
Purchases of property and equipment (25,737) (29,585)
Proceeds from the sale of property and equipment 175 11
Acquisition of businesses, net of cash acquired (224,097) (2,827)
Proceeds from deferred purchase price of factored receivables 2,168  
Cost of technology investments (350) (7,557)
Net cash used in investing activities (247,841) (39,958)
Financing Activities:    
Borrowings on debt 207,000  
Repayments of debt (11,559) (151,993)
Proceeds from the exercise of Common Stock options 1,556 7,467
Taxes withheld and paid on employees' share-based payment awards (5,415) (3,991)
Acquisition contingent consideration payment   (69)
Net cash provided by (used in) financing activities 191,582 (148,586)
Foreign currency effect (8,141) (1,821)
Net decrease in cash and cash equivalents (51,443) (73,259)
Cash and cash equivalents at beginning of period 190,606 268,345
Cash and cash equivalents at end of period 139,163 195,086
Supplemental disclosure of cash flow information:    
Cash paid for taxes 13,509 12,348
Cash paid for interest $ 3,334 $ 1,823