v3.26.3
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 156,689 $ 149,081
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 52,874 50,374
Non-cash operating lease costs 15,884 19,756
Deferred income taxes, net 9,561 2,443
Loss on extinguishment of debt 0 4,744
Amortization of deferred financing costs 2,087 3,455
Equity in earnings of joint ventures (4,916) (5,300)
Stock-based incentive compensation expense 27,912 30,638
Distribution from equity method investments 2,600 2,100
Other adjustments 1,115 (435)
Changes in operating assets and liabilities:    
Accounts receivable, net (32,002) (55,430)
Inventories 63,104 (24,899)
Prepaid expenses and other current assets (14,933) 24,694
Accounts payable 31,824 10,224
Accrued compensation and employee benefits (8,069) 8,338
Accrued expenses and other current liabilities 1,389 15,834
Operating lease liabilities (17,572) (18,118)
Other noncurrent assets and liabilities (1,335) 5,057
Net cash provided by operating activities 286,212 222,556
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisition of property and equipment (26,805) (27,661)
Business acquisitions, net of cash acquired 0 (117,247)
Other investing activities (877) (2,529)
Net cash used in investing activities (27,682) (147,437)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Stock-based compensation tax withholdings (15,279) (7,916)
Purchase of company stock and related excise taxes (170,545) (214,887)
Repayments of debt principal (5,085) (3,255)
Proceeds from issuance of debt 0 229,472
Retirement of debt obligations 0 (180,239)
Deferred financing costs (2,195) (3,382)
Other financing activities 1,043 2,345
Net cash used in financing activities (192,061) (177,862)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 66,469 (102,743)
Cash and cash equivalents - beginning of period 232,624 412,565
CASH AND CASH EQUIVALENTS - END OF PERIOD 299,093 309,822
Supplemental disclosure of cash flow information:    
Cash paid for interest 40,431 42,520
Cash paid for income taxes 49,773 49,836
Cash paid for operating leases $ 24,098 $ 22,867