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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows Provided by (Used in) Operating Activities:    
Net income $ 245,658 $ 176,266
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 51,005 47,527
Share-based compensation 8,375 12,159
Loss on extinguishment of debt 13,862 233
Loss on sale or abandonment of property and equipment 1,410 290
Amortization of debt issuance costs 1,352 1,103
Provision for bad debt expense 5,215 5,625
Loss from inventory obsolescence 1,667 1,908
Deferred income taxes, net (1,661) (709)
Change in certain assets and liabilities    
Receivables, net (62,257) (13,645)
Inventories, net (30,115) 4,759
Prepaid expenses and other current assets (2,984) (14,989)
Accounts payable 47,907 2,152
Accrued liabilities 30,397 33,436
Payment of contingent consideration (22) (413)
Other, net (304) 21
Net cash provided by operating activities 309,505 255,723
Cash Flows Provided by (Used in) Investing Activities:    
Purchases of property and equipment (42,320) (27,206)
Acquisition of businesses (205,028) (21,450)
Proceeds from sale of property and equipment 298 2,332
Net cash used in investing activities (247,050) (46,324)
Cash Flows Provided by (Used in) Financing Activities:    
Proceeds from issuance of long-term debt 411,250 300,000
Repayment of long-term debt (427,563) (319,168)
Payment of debt issuance costs (6,500) (2,280)
Taxes withheld and paid on employees' equity awards (11,511) (14,781)
Exercise of stock options 5,952 1,438
Repurchase of shares of common stock (35,556) (43,149)
Payment of contingent consideration (628) (928)
Net cash used in financing activities (64,556) (78,868)
Cash and Cash Equivalents    
(Decrease) increase for the period (2,101) 130,531
Beginning of period 330,007 184,807
End of period 327,906 315,338
Supplemental disclosure of noncash activities:    
Leased assets obtained in exchange for new operating lease liabilities 51,190 27,098
Accruals for property and equipment $ 580 $ 278

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