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Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating Activities:    
Net income $ 22,256 $ 28,646
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 38,531 30,470
Deferred income taxes (3,017) (1,207)
Stock based compensation 8,451 3,383
Loss on disposition of property and equipment 873 620
Provisions for inventory 6,597 4,293
Impairment of goodwill 19,509  
Other 81 881
Changes in assets and liabilities:    
Accounts receivable, net (19,813) (55,780)
Inventory 3,733 (53,223)
Other assets (19,218) (10,868)
Accounts payable 32,158 60,983
Other liabilities (10,099) 4,759
Net cash provided by operating activities 80,042 12,957
Investing Activities:    
Purchases of property and equipment (26,526) (25,737)
Proceeds from the sale of property and equipment 72 175
Acquisition of businesses, net of cash acquired   (224,097)
Proceeds from deferred purchase price of factored receivables 10,139 2,168
Cost of technology investments (630) (350)
Net cash used in investing activities (16,945) (247,841)
Financing Activities:    
Borrowings on debt   207,000
Repayments of debt (27,166) (11,559)
Proceeds from the exercise of Common Stock options 263 1,556
Taxes withheld and paid on employees' share-based payment awards (2,754) (5,415)
Cash paid for the repurchase of Common Stock (31,094)  
Net cash (used in) provided by financing activities (60,751) 191,582
Foreign currency effect (1,883) (8,141)
Net cash increase (decrease) in cash and cash equivalents 463 (51,443)
Cash and cash equivalents at beginning of period 153,891 190,606
Cash and cash equivalents at end of period 154,354 139,163
Supplemental disclosure of cash flow information:    
Cash paid for taxes 18,893 13,509
Cash paid for interest 9,737 3,334
Non-Cash Investing Activities:    
Period-end balance of accounts payable for property and equipment 4,501 2,848
Deferred purchase price of receivables factored in the period $ 11,344 $ 2,801