v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows Provided by (Used in) Operating Activities:    
Net income $ 176,266 $ 145,011
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 47,527 39,005
Share-based compensation 12,159 11,411
Loss on extinguishment of debt 233  
Loss on sale or abandonment of property and equipment 290 885
Amortization of debt issuance costs 1,103 1,169
Provision for bad debt expense 5,625 5,697
Loss from inventory obsolescence 1,908 1,794
Deferred income taxes, net (709) (381)
Change in certain assets and liabilities    
Receivables, net (13,645) (51,585)
Inventories, net 4,759 20,637
Prepaid expenses and other current assets (14,989) 10,003
Accounts payable 2,152 (12,529)
Accrued liabilities 33,436 10,758
Payment of contingent consideration (413)  
Other, net 21 904
Net cash provided by operating activities 255,723 182,779
Cash Flows Provided by (Used in) Investing Activities:    
Purchases of property and equipment (27,206) (34,100)
Acquisition of businesses (21,450) (6,452)
Proceeds from sale of property and equipment 2,332 2,239
Other, net   25
Net cash used in investing activities (46,324) (38,288)
Cash Flows Provided by (Used in) Financing Activities:    
Proceeds from issuance of long-term debt 300,000 9,998
Repayment of long-term debt (319,168) (19,424)
Payment of debt issuance costs (2,280)  
Taxes withheld and paid on employees' equity awards (14,781) (11,135)
Exercise of stock options 1,438  
Repurchase of shares of common stock (43,149) (52,177)
Payment of contingent consideration (928) (1,091)
Net cash used in financing activities (78,868) (73,829)
Cash and Cash Equivalents    
Increase for the period 130,531 70,662
Beginning of period 184,807 100,929
End of period 315,338 171,591
Supplemental disclosure of noncash activities:    
Leased assets obtained in exchange for new operating lease liabilities 27,098 120,726
Accruals for property and equipment $ 278 $ 102

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