Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows (Unaudited)

v3.25.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net (loss) income [1] $ (1,864) $ 2,262
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization [1] 29,730 20,411
Amortization of debt issuance cost [1] 1,266 997
Deferred taxes [1] (19,117) (9,840)
Stock-based compensation [1] 9,908 6,497
Impairment and loss on sale of business segments [1] 47,046 16,867
Loss on sale of property and equipment [1] 10 421
Lease abandonment and termination costs [1] 0 12,205
Earn-out receivable fair value adjustments [1] 29,200 0
Interest income on note receivable [1] (1,342) 0
Changes in operating assets and liabilities, net of impact of acquisitions:    
Receivables [1] (23,243) (32,720)
Contract assets [1] (2,954) 5,267
Inventories [1] (26,522) (26,808)
Prepaid expenses and other current assets and other assets [1] (8,991) (8,232)
Operating lease assets and liabilities, net [1] 837 (10,442)
Accounts payable and deferred compensation [1] (42,067) (67,860)
Accrued expenses and other liabilities [1] (2,549) 4,563
Net cash used in operating activities [1] (10,652) (86,412)
Cash flows from investing activities:    
Purchases of property and equipment [1] (14,513) (17,439)
Proceeds from the sale of business segments, net of cash divested [1] 138,816 42,118
Cash paid for acquisitions, net of cash acquired [1] (47,745) (112,206)
Net cash provided by (used in) investing activities [1] 76,558 (87,527)
Cash flows from financing activities:    
Borrowings on bank credit facilities [1] 648,066 527,165
Repayments on bank credit facilities [1] (720,825) (507,165)
Proceeds from issuance of common stock [1] 463 161,693
Payment of debt financing costs [1] (2,584) 0
Payment of taxes for equity transactions [1] (5,077) (2,758)
Dividends paid [1] (6,195) (5,019)
Net cash (used in) provided by financing activities [1] (86,152) 173,916
Net decrease in cash and cash equivalents [1] (20,246) (23)
Cash and cash equivalents, beginning of period [1] 29,030 7,930
Cash and cash equivalents, end of period [1] 8,784 7,907
Supplemental Cash Flow Information [Abstract]    
Note receivable from the sale of business segment [1] $ 25,000 $ 0
[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. See Note (3) "Discontinued Operations".