v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 79,798 $ 62,728
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 61,538 60,313
Gain on disposition of business (12,557) (249)
Share of equity investee loss 880  
Loss on sale or abandonment of property and equipment 466 315
Write-off of certain intangible assets and other long-term assets 266 82
Amortization of right-of-use operating lease assets 5,779 5,766
Fair value adjustments related to contingent consideration liabilities (34) 1,166
Amortization of deferred credits (52) (52)
Amortization of long-term debt issuance costs 2,828 2,828
Stock-based compensation expense 21,876 19,951
Changes in operating assets and liabilities, net of acquisitions and divestitures:    
Trade receivables (21,328) (7,310)
Other receivables 180 2,817
Inventories (43,579) (11,720)
Prepaid expenses and other current assets (2,113) (2,575)
Income tax refund receivables (665) (3,653)
Other assets (1,921) (1,471)
Trade payables 10,193 3,697
Accrued expenses (4,869) (2,740)
Income taxes payable 3,113 1,537
Deferred compensation payable 1,754 603
Operating lease liabilities (5,625) (5,925)
Other long-term obligations 14,029 (2,229)
Total adjustments 30,159 61,151
Net cash, cash equivalents, and restricted cash provided by operating activities 109,957 123,879
Capital expenditures for:    
Property and equipment (33,340) (34,812)
Intangible assets (1,617) (1,296)
Proceeds from asset and business dispositions 25,555 294
Cash paid for notes receivable and other investments   (14,617)
Cash paid in acquisitions, net of cash acquired (92,997) (122,555)
Net cash, cash equivalents, and restricted cash provided by (used in) investing activities (102,399) (172,986)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 4,623 20,014
Contingent payments related to acquisitions (2,991) (2,567)
Payment of taxes related to an exchange of common stock (6,973) (6,145)
Net cash, cash equivalents, and restricted cash (used in) provided by financing activities (5,341) 11,302
Effect of exchange rates on cash, cash equivalents, and restricted cash 140 2,953
Net increase (decrease) in cash, cash equivalents and restricted cash 2,357 (34,852)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Beginning of period 448,549 378,767
End of period 450,906 343,915
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS:    
Cash and cash equivalents 448,699 341,819
Restricted cash reported in prepaid expenses and other current assets $ 2,207 $ 2,096
Restricted Cash and Cash Equivalents, Current, Statement of Financial Position [Extensible Enumeration] Prepaid Expense and Other Assets, Current Prepaid Expense and Other Assets, Current
Total cash, cash equivalents and restricted cash $ 450,906 $ 343,915
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest (net of capitalized interest of $1,034 and $594, respectively) 15,816 13,530
Income taxes 21,877 19,658
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Property and equipment purchases in accounts payable 3,028 9,062
Acquisition purchases in accrued expenses and other long-term obligations 48,764 4,068
Merit common stock surrendered (0 and 18 shares, respectively) in exchange for exercise of stock options   1,882
Right-of-use operating lease assets obtained in exchange for operating lease liabilities $ 2,028 $ 28,504