v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 103,152 $ 112,874
Reconciliation of net income to net cash provided by operating activities:    
Depreciation and amortization 31,564 30,047
Deferred financing cost amortization 559 560
Stock-based compensation 12,371 10,373
Provision for expected credit losses 300 589
Inventory obsolescence 902 3,035
Gain on disposal of assets (389) (1,674)
Deferred income taxes 12,775 7,915
Change in fair value of earn-out liability 0 16,180
Changes in operating assets and liabilities:    
Accounts receivable (15,715) (358)
Inventories (20,253) (4,340)
Prepaid expenses and other assets (1,009) 429
Accounts payable 11,175 (8,577)
Accrued expenses and other liabilities (11,052) 12,442
Payments pursuant to tax receivable agreement 0 (15,277)
Net cash provided by operating activities 124,380 164,218
Cash flows from investing activities    
Investment in unconsolidated affiliate (6,000) 0
Capital expenditures and other (22,168) (17,371)
Proceeds from sales of assets 1,661 3,317
Net cash used in investing activities (26,507) (14,054)
Cash flows from financing activities    
Payments on finance leases (3,940) (3,954)
Dividends paid to Class A common stock shareholders (18,153) (16,135)
Distributions to members (8,743) (8,617)
Repurchases of shares (5,710) (8,489)
Net cash used in financing activities (36,546) (37,195)
Effect of exchange rate changes on cash and cash equivalents 1,007 (258)
Net increase in cash and cash equivalents 62,334 112,711
Cash and cash equivalents, beginning of period 342,843 133,792
Cash and cash equivalents, end of period 405,177 246,503
Supplemental disclosure of cash flow information    
Net cash paid for income taxes 41,951 18,977
Cash paid for interest 1,305 1,077
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new lease obligations 6,552 8,425
Property and equipment in accounts payable $ 2,083 $ 1,907