v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income $ 73,112 $ 44,278
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and finance lease amortization 25,594 20,652
Amortization of intangible assets 30,380 25,489
Amortization of deferred financing costs and original issue discount 535 636
Change in fair value of investments 1,374 9,947
Deferred income tax expense (benefit) 3,745 (4,182)
Share-based compensation expense 13,442 11,608
Loss on disposal of assets 218 303
Loss attributable to business dispositions 4,782 0
Other noncash charges 552 626
Excess tax benefits from equity awards (2,789) (164)
Net changes in operating assets and liabilities:    
Accounts receivable (15,103) 48,350
Inventories 13,930 (57,203)
Other assets (44,151) 2,145
Accounts payable 40,085 (33,007)
Accrued wages and employee benefits (13,704) (31,554)
Other accrued liabilities (12,717) 20,228
Net cash provided by operating activities 119,285 58,152
Investing activities    
Proceeds from sale of property and equipment 0 54
Purchase of long-term investments 0 (2,656)
Expenditures for property and equipment (29,397) (30,937)
Acquisition of business, net of cash acquired (122,828) 0
Other investing activities (1,525) 0
Net cash used in investing activities (153,750) (33,539)
Financing activities    
Proceeds from short-term borrowings 14,079 19,236
Proceeds from long-term borrowings 243 943
Repayments of short-term borrowings (21,035) (19,985)
Repayments of long-term borrowings and finance lease obligations (6,190) (14,450)
Stock repurchases 0 (97,454)
Payment of deferred acquisition consideration (1,130) 0
Taxes paid related to equity awards (34,594) (8,601)
Proceeds from the exercise of stock options 7,245 592
Net cash used in financing activities (41,382) (119,719)
Effect of foreign exchange rate changes on cash and cash equivalents (36) 1,293
Net decrease in cash and cash equivalents (75,883) (93,813)
Cash and cash equivalents at beginning of period 341,413 281,277
Cash and cash equivalents at end of period $ 265,530 $ 187,464