v3.24.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income [1] $ 2,262 $ 27,529
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization [1] 20,411 17,461
Amortization of debt issuance cost [1] 997 1,028
Deferred taxes [1] (9,840) (1,179)
Stock-based compensation [1] 6,497 5,811
Provision for inventory [1] 0 742
Impairment and loss on sale of business segment [1] 16,867 0
Loss on sale of property and equipment [1] 421 0
Lease abandonment and termination costs [1] 12,205 0
Changes in operating assets and liabilities, net of impact of acquisitions:    
Receivables [1] (32,720) (25,304)
Contract assets [1] 5,267 5,409
Inventories [1] (26,808) (60,867)
Other current assets and other assets [1] (8,232) 2,122
Operating lease assets and liabilities, net [1] (10,442) (262)
Accounts payable and deferred compensation [1] (67,860) (16,717)
Accrued expenses and other liabilities [1] 4,563 (5,544)
Net cash used in operating activities [1] (86,412) (49,771)
Cash flows from investing activities:    
Purchases of property and equipment [1] (17,439) (10,795)
Proceeds from the sale of business segment [1] 42,118 0
Proceeds from the payment on notes receivable [1] 0 1,557
Cash paid for acquisitions, net of cash acquired [1] (112,206) (218,674)
Net cash used in investing activities [1] (87,527) (227,912)
Cash flows from financing activities:    
Borrowings on bank credit facilities [1] 527,165 610,188
Repayments on bank credit facilities [1] (507,165) (435,298)
Proceeds from issuance of common stock [1] 161,693 129,566
Payment of debt financing costs 0 (1,448)
Payment of taxes for equity transactions [1] (2,758) (1,113)
Dividends paid [1] (5,019) (3,861)
Net cash provided by financing activities [1] 173,916 298,034
Net (decrease) increase in cash and cash equivalents [1] (23) 20,351
Cash and cash equivalents, beginning of period [1] 7,930 478
Cash and cash equivalents, end of period [1] $ 7,907 $ 20,829
[1]
(a) The cash flows related to discontinued operations and held-for-sale assets and liabilities have not been segregated, and remain included in the major classes of assets and liabilities. Accordingly, the Consolidated Statements of Cash Flows include the results of continuing and discontinued operations.

Source

PDF HTML 10-Q Filing
ZIP XLS HTML XBRL