| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net income | ||||||
150,631 | 116,187 | 102,788 | 43,039 | 26,807 | 15,098 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation and amortization | ||||||
74,001 | 51,992 | 38,062 | 28,604 | 19,684 | 13,704 | |
Non-cash loss on early extinguishment of debt | ||||||
- | - | -5,400 | -1,813 | - | 0 | |
Gain on asset impairments and disposals | ||||||
-4,111 | -23 | -128 | -451 | -144 | -148 | |
Amortization of tenant improvement allowances | ||||||
- | 4,494 | 3,311 | 2,561 | 2,197 | 1,896 | |
Operating lease termination | ||||||
-1,900 | - | - | - | - | - | |
Deferred income taxes | ||||||
-10,584 | -968 | -557 | -5,536 | 464 | -1,426 | |
Interest cap derivative contracts | ||||||
446 | -212 | - | - | - | - | |
Stock based compensation expense | ||||||
8,711 | 6,514 | 4,959 | 3,229 | 3,258 | 2,323 | |
Changes in operating assets and liabilities: | ||||||
Receivables, net | ||||||
17,850 | 13,486 | 19,508 | 10,793 | 7,997 | 7,761 | |
Inventories, net | ||||||
110,851 | 53,557 | 134,248 | 21,133 | 70,988 | 45,985 | |
Other assets | ||||||
- | - | - | 4,817 | 2,520 | 2,069 | |
Trade accounts payable | ||||||
54,956 | 54,773 | 100,264 | 11,145 | 40,454 | 47,780 | |
Accrued expenses and other current liabilities | ||||||
20,744 | -1,731 | 9,485 | 27,244 | 4,908 | 7,488 | |
Income taxes | ||||||
3,894 | 6,221 | -18,259 | 8,271 | -4,805 | 6,223 | |
Deferred revenue | ||||||
1,439 | 3,002 | 8,067 | 2,311 | 4,997 | 2,023 | |
Deferred rent | ||||||
- | 14,455 | 9,243 | 3,870 | 3,327 | 2,507 | |
Tenant improvement allowances | ||||||
- | 15,010 | 7,984 | 4,244 | 4,816 | 5,660 | |
Other, net | ||||||
23,084 | -8,105 | -1,332 | 75 | 28 | -223 | |
Net cash provided by operating activities | ||||||
204,658 | 185,624 | 109,207 | 89,456 | 20,380 | 43,594 | |
Purchases of fixed assets | ||||||
196,008 | 151,397 | 102,253 | 74,648 | 45,037 | 39,069 | |
Other | ||||||
- | - | - | - | -16 | 0 | |
Net cash used in investing activities | ||||||
-196,008 | -151,397 | -102,253 | -74,648 | -45,021 | -39,069 | |
Borrowings on revolving line of credit | ||||||
100,100 | 217,050 | 236,700 | 171,850 | 204,300 | 119,700 | |
Payments on revolving line of credit | ||||||
100,100 | 258,050 | 245,700 | 214,750 | 177,900 | 123,400 | |
Proceeds from term loans | ||||||
- | - | - | 362,000 | - | 0 | |
Payments on term loans | ||||||
3,500 | 3,500 | 197,500 | 98,334 | 1,667 | 1,467 | |
Prepayment penalty on term loan extinguishment | ||||||
- | - | - | 179 | - | 0 | |
Cash dividends | ||||||
- | - | - | 225,000 | - | 0 | |
Net proceeds from initial public offering | ||||||
- | - | 192,336 | - | - | - | |
Proceeds from exercise of stock options | ||||||
18,798 | 10,531 | 8,874 | 284 | 40 | 658 | |
Proceeds from employee stock purchase plan | ||||||
2,445 | - | - | - | - | - | |
Debt issuance costs | ||||||
- | 170 | 1,559 | 10,546 | 93 | 208 | |
Net cash provided by (used in) financing activities | ||||||
17,743 | -34,139 | -6,849 | -14,675 | 24,680 | -4,421 | |
Net increase in cash and cash equivalents | ||||||
26,393 | 88 | 105 | 133 | 39 | 104 | |
Excess tax benefit from exercise of stock options | ||||||
- | - | - | - | - | 296 | |
Supplemental disclosures of cash flow information | ||||||
Buildings and equipment acquired under operating leases | ||||||
277,392 | - | - | - | - | - | |
Cash paid for interest | ||||||
7,388 | 7,563 | 15,748 | 6,922 | 8,898 | 7,903 | |
Cash paid for income taxes, net of refunds | ||||||
6,453 | 1,082 | 14,392 | 8,929 | 20,182 | 4,778 | |
Fixed assets accrued at the end of the period | ||||||
19,527 | 15,120 | 8,521 | 5,387 | 7,002 | 3,343 | |
Fixed assets acquired as part of lease - paid for by lessor | ||||||
- | - | 1,786 | 2,290 | - | 0 | |