Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net loss $ (12,672) $ (594)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 34,887 31,716
Deferred income taxes (15,386) (10,075)
Loss on disposal of assets and impairment charges 1,528 2,664
Foreign currency loss 16 27
Gain from issuance of shares as payment of deferred consideration related to business acquisition 0 (2,681)
Gain from settlement related to business acquisition 0 (6,356)
Amortization of deferred financing costs and debt discount 664 664
Amortization of deferred income (4,990) (1,946)
Accretion of asset retirement obligation 608 616
Non-cash rent 3,307 3,484
Charges to allowance for credit losses 217 327
Income from equity investment (21) (22)
Share-based compensation 3,336 3,329
Fair value adjustment of financial assets and liabilities (7,059) (10,772)
Other operating activities, net 20 624
Changes in assets and liabilities:    
Increase in trade receivables (14,431) (24,304)
Decrease in inventory 10,575 188
Decrease in other assets 5,325 5,095
Increase in accounts payable 6,694 21,347
Increase (decrease) in other current liabilities 17,370 (4,152)
Decrease in asset retirement obligation (317) (55)
Increase in non-current liabilities 13,731 3,631
Net cash provided by operating activities 43,402 12,755
Cash flows from investing activities:    
Purchase of property and equipment (27,392) (29,228)
Proceeds from sale of property and equipment 473 2,039
Prepayment for acquisition 0 (1,000)
Loans to equity investment, net 15 14
Net cash used in investing activities (26,904) (28,175)
Cash flows from financing activities:    
Receipt of long-term debt, net 0 41,588
Repayment of debt (5,690) (6,635)
Principal payments on financing leases (1,380) (1,135)
Early settlement of deferred consideration related to business acquisition 0 (17,155)
Common stock repurchased (7,382) (31,921)
Dividends paid on common stock (3,495) (3,596)
Dividends paid on redeemable preferred stock (1,418) (1,414)
Net cash used in financing activities (19,365) (20,268)
Net decrease in cash and cash equivalents and restricted cash (2,867) (35,688)
Effect of exchange rate on cash and cash equivalents and restricted cash (4) (19)
Cash and cash equivalents and restricted cash, beginning of period 292,408 241,421
Cash and cash equivalents and restricted cash, end of period 289,537 205,714
Reconciliation of cash and cash equivalents and restricted cash    
Cash and cash equivalents, beginning of period 261,758 218,120
Restricted cash, beginning of period 30,650 23,301
Cash and cash equivalents, end of period 265,420 184,480
Restricted cash, end of period 24,117 21,234
Cash and cash equivalents and restricted cash, end of period 289,537 205,714
Supplementary cash flow information:    
Cash received for interest 2,364 1,650
Cash paid for interest 16,078 16,724
Cash received for taxes 292 268
Cash paid for taxes 0 648
Supplementary noncash activities:    
Prepaid insurance premiums financed through notes payable 3,217 3,073
Purchases of equipment in accounts payable and accrued expenses 7,928 11,775
Purchase of property and equipment under leases 1,235 10,586
Disposals of leases of property and equipment 348 9,100
Issuance of shares as payment of deferred consideration related to business acquisition $ 0 $ 22,319