v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 101,601 $ 103,152
Reconciliation of net income to net cash provided by operating activities:    
Depreciation and amortization 73,388 31,564
Deferred financing cost amortization 1,043 559
Stock-based compensation 14,434 12,371
Provision for expected credit losses 389 300
Inventory obsolescence 3,116 902
Gain on disposal of assets (240) (389)
Deferred income taxes 6,227 12,775
Changes in operating assets and liabilities:    
Accounts receivable (96,792) (15,715)
Inventories (2,999) (20,253)
Prepaid expenses and other assets (7,249) (1,009)
Accounts payable 114,790 11,175
Accrued expenses and other liabilities 4,053 (11,052)
Contract liabilities 21,074 0
Net cash provided by operating activities 232,835 124,380
Cash flows from investing activities    
Acquisition of a business, net of cash and cash equivalents acquired (301,011) 0
Investment in unconsolidated affiliate 0 (6,000)
Capital expenditures and other (26,270) (22,168)
Proceeds from sales of assets 1,696 1,661
Net cash used in investing activities (325,585) (26,507)
Cash flows from financing activities    
Payments of deferred financing costs (100) 0
Payments on finance leases (3,909) (3,940)
Dividends paid to Class A common stock shareholders (19,972) (18,153)
Distributions to members (4,250) (8,743)
Repurchases of shares (8,027) (5,710)
Net cash used in financing activities (36,258) (36,546)
Effect of exchange rate changes on cash and cash equivalents 247 1,007
Net (decrease) increase in cash and cash equivalents (128,761) 62,334
Beginning of period 494,582 342,843
End of period 365,821 405,177
Supplemental disclosure of cash flow information    
Net cash paid for income taxes 30,044 41,951
Cash paid for interest 1,537 1,305
Non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new lease obligations 8,073 6,552
Property and equipment in accounts payable $ 1,295 $ 2,083