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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows Provided by (Used in) Operating Activities:    
Net income $ 258,410 $ 150,222
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,621 33,221
Share-based compensation 7,061 5,377
Loss on extinguishment of debt   13,862
Loss on sale of property and equipment 525 833
Amortization of debt issuance costs 1,427 858
Provision for bad debt expense 6,404 4,037
Loss from inventory obsolescence 3,610 1,129
Change in certain assets and liabilities    
Receivables, net (107,739) (36,277)
Inventories, net (82,621) (8,055)
Prepaid expenses and other current assets 648 (2,273)
Accounts payable 47,540 21,782
Accrued liabilities 16,884 17,693
Other, net 4,927 (206)
Net cash provided by operating activities 217,697 202,203
Cash Flows Provided by (Used in) Investing Activities:    
Purchases of property and equipment (36,034) (28,560)
Acquisition of businesses, net of cash acquired (18,746) (195,411)
Proceeds from sale of property and equipment 618 193
Net cash used in investing activities (54,162) (223,778)
Cash Flows Provided by (Used in) Financing Activities:    
Proceeds from issuance of long-term debt   411,250
Repayment of long-term debt (19,287) (421,716)
Payment of debt issuance costs   (6,500)
Proceeds from revolving credit facility 70,000  
Repayment of revolving credit facility (70,000)  
Taxes withheld and paid on employees' equity awards (11,667) (11,491)
Exercise of stock options 1,452 5,952
Repurchase of shares of common stock (150,050) (24,038)
Payment of contingent consideration (35) (150)
Net cash used in financing activities (179,587) (46,693)
Cash and Cash Equivalents    
Impact of exchange rate changes on cash 142  
Net decrease in cash and cash equivalents (15,910) (68,268)
Cash and cash equivalents- Beginning of period 139,779 330,007
Cash and cash equivalents- End of period 123,869 261,739
Supplemental disclosure of noncash activities:    
Leased assets obtained in exchange for new operating lease liabilities 36,129 39,135
Accruals for property and equipment $ 563 $ 460

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