v3.26.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 122,109 $ 90,483
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 93,383 91,629
Gain on disposition of business (12,557) (249)
Share of equity investee loss 1,134 260
Loss on sale or abandonment of property and equipment 1,114 546
Write-off of certain intangible assets and other long-term assets 537 152
Amortization of right-of-use operating lease assets 8,771 8,693
Fair value adjustments related to contingent consideration liabilities (70) 1,198
Amortization of deferred credits (77) (77)
Amortization of long-term debt issuance costs 4,242 4,242
Stock-based compensation expense 35,497 33,563
Changes in operating assets and liabilities, net of acquisitions and divestitures:    
Trade receivables (18,804) (13,656)
Other receivables (1,697) 2,116
Inventories (59,867) (15,073)
Prepaid expenses and other current assets (5,338) (3,038)
Income tax refund receivables (2,250) (140)
Other assets (2,225) (2,089)
Trade payables 4,888 3,428
Accrued expenses (4,112) 4,849
Income taxes payable 7,216 3,485
Deferred compensation payable 1,831 (2,114)
Operating lease liabilities (8,425) (8,578)
Other long-term obligations 9,930 (769)
Total adjustments 53,121 108,378
Net cash, cash equivalents, and restricted cash provided by operating activities 175,230 198,861
Capital expenditures for:    
Property and equipment (45,686) (57,252)
Intangible assets (2,293) (2,327)
Proceeds from asset and business dispositions 25,555 298
Cash paid for notes receivable and other investments (9,242) (14,936)
Cash paid in acquisitions, net of cash acquired (93,049) (122,834)
Net cash, cash equivalents, and restricted cash used in investing activities (124,715) (197,051)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of common stock 16,272 22,179
Contingent payments related to acquisitions (3,030) (2,645)
Payment of taxes related to an exchange of common stock (6,973) (8,597)
Net cash, cash equivalents, and restricted cash provided by financing activities 6,269 10,937
Effect of exchange rates on cash, cash equivalents, and restricted cash 454 3,047
Net increase in cash, cash equivalents and restricted cash 57,238 15,794
CASH, CASH EQUIVALENTS AND RESTRICTED CASH:    
Beginning of period 448,549 378,767
End of period 505,787 394,561
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO THE CONSOLIDATED BALANCE SHEETS:    
Cash and cash equivalents 503,551 392,457
Restricted cash reported in prepaid expenses and other current assets $ 2,236 $ 2,104
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 $ 505,787 $ 394,561
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Interest (net of capitalized interest of $1,302 and $934, respectively) 27,341 25,890
Income taxes 32,300 23,323
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES    
Property and equipment purchases in accounts payable 3,872 5,022
Acquisition purchases in accrued expenses and other long-term obligations 49,272 4,772
Merit common stock surrendered (0 and 118 shares, respectively) in exchange for exercise of stock options   10,863
Right-of-use operating lease assets obtained in exchange for operating lease liabilities $ 5,596 $ 30,757