v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income [1] $ 15,324 $ 39,134 $ 28,059
  Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Depreciation and amortization [1] 28,762 23,416 24,602
Amortization of debt issuance costs [1] 1,330 1,544 968
Deferred taxes [1] (9,996) (1,979) (1,139)
Stock-based compensation [1] 8,315 7,738 4,465
Specific provision for inventory [1] 0 742 1,094
Impairment and loss on sale of business segment [1] 19,403 0 0
Loss on sale of property and equipment [1] 479 0 122
Lease abandonment and termination costs [1] 12,205 0 0
Changes in operating assets and liabilities, net of impact of acquisitions:      
Receivables [1] (40,239) (25,923) (26,606)
Contract assets [1] 7,781 5,148 (6,425)
Inventories [1] (31,668) (87,529) (59,099)
Other current assets and other assets [1] (6,685) (3,191) 2,563
Operating lease assets and liabilities, net [1] (10,247) (390) (486)
Accounts payable and deferred compensation [1] (31,756) 23,913 36,193
Accrued expenses and other current and noncurrent liabilities [1] 5,955 (4,452) 3,740
Net cash (used in) provided by operating activities [1] (31,037) (21,829) 8,051
Cash flows from investing activities:      
Purchases of property and equipment [1] (20,704) (18,666) (11,212)
Proceeds from the sale of business segment [1] 40,157 0 0
Proceeds from payments on notes receivable [1] 0 1,557 8,835
Cash paid for acquisitions, net of cash acquired [1] (283,122) (218,581) 0
Net cash used in investing activities [1] (263,669) (235,690) (2,377)
Cash flows from financing activities:      
Borrowings on bank credit facilities [1] 739,236 844,262 520,223
Repayments on bank credit facilities [1] (739,736) (699,872) (518,347)
Proceeds from issuance of common stock [1] 325,999 130,020 899
Earn-out obligation payments [1] 0 0 (1,250)
Payment of debt financing costs [1] 0 (2,890) (1,113)
Payment of taxes for equity transactions [1] (2,633) (1,113) (1,015)
Dividends paid [1] (7,060) (5,436) (5,111)
Net cash provided by (used in) financing activities [1] 315,806 264,971 (5,714)
Net increase (decrease) in cash and cash equivalents [1] 21,100 7,452 (40)
Cash and cash equivalents, beginning of period [1] 7,930 478 518
Cash and cash equivalents, end of period [1] 29,030 7,930 478
Supplemental disclosures of cash flow information:      
Cash paid for interest [1] 37,076 35,039 16,423
Cash paid for income taxes [1] $ 12,230 $ 13,944 $ 10,332
[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-K Filing
ZIP XLS HTML XBRL