v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows Provided by (Used in) Operating Activities:    
Net income $ 50,771 $ 37,983
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,190 12,475
Share-based compensation 3,908 2,972
Loss on extinguishment of debt 233  
Loss on sale or abandonment of property and equipment 383 487
Amortization of debt issuance costs 328 390
Provision for bad debt expense 1,670 1,676
Loss from inventory obsolescence 529 1,109
Deferred income taxes, net (39) 95
Change in certain assets and liabilities    
Receivables, net (5,048) (23,341)
Inventories, net (3,964) 7,125
Prepaid expenses and other current assets 6,193 11,192
Accounts payable (4,173) (31,407)
Accrued liabilities 9,981 2,100
Other, net (2,032) 666
Net cash provided by operating activities 72,930 23,522
Cash Flows Provided by (Used in) Investing Activities:    
Purchases of property and equipment (15,892) (10,213)
Acquisition of businesses (20,526)  
Proceeds from sale of property and equipment 194 75
Other, net   16
Net cash used in investing activities (36,224) (10,122)
Cash Flows Provided by (Used in) Financing Activities:    
Proceeds from issuance of long-term debt 300,000  
Repayment of long-term debt (307,668) (5,601)
Payment of debt issuance costs (2,280)  
Taxes withheld and paid on employees' equity awards (10,399) (5,578)
Repurchase of shares of common stock (14,127) (4,622)
Payment of contingent consideration   (250)
Net cash used in financing activities (34,474) (16,051)
Cash and Cash Equivalents    
Increase (decrease) for the period 2,232 (2,651)
Beginning of period 184,807 100,929
End of period 187,039 98,278
Supplemental disclosure of noncash activities:    
Leased assets obtained in exchange for new operating lease liabilities 9,167 105,249
Accruals for property and equipment $ 496 $ 441

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