Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 7,426 $ 13,469
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 68,489 65,293
Deferred income taxes (441) (5,929)
Loss on disposal of assets and impairment charges 4,079 3,385
Gain from sale-leaseback (20,777) 0
Foreign currency (gain) loss (61) 57
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 1,358 1,332
Amortization of deferred income (8,765) (6,369)
Accretion of asset retirement obligation 1,234 1,243
Non-cash rent 6,410 7,171
Charges to allowance for credit losses 542 641
Income from equity investment (47) (50)
Share-based compensation 6,994 6,113
Fair value adjustment of financial assets and liabilities (7,611) (12,206)
Other operating activities, net (212) 686
Changes in assets and liabilities:    
Increase in trade receivables (17,055) (21,484)
Decrease in inventory 24,035 2,772
(Increase) decrease in other assets (3,596) 5,843
(Decrease) increase in accounts payable (77) 26,477
Increase (decrease) in other current liabilities 16,156 (5,924)
Decrease in asset retirement obligation (343) (120)
Increase in non-current liabilities 20,849 16,611
Net cash provided by operating activities 98,587 89,974
Cash flows from investing activities:    
Purchase of property and equipment (72,739) (48,512)
Proceeds from sale of property and equipment 2,276 50,295
Business acquisitions, net of cash 0 (54,458)
Loans to equity investment, net 31 28
Net cash used in investing activities (70,432) (52,647)
Cash flows from financing activities:    
Receipt of long-term debt, net 37,302 47,556
Repayment of debt (12,245) (13,849)
Principal payments on financing leases (2,811) (2,306)
Early settlement of deferred consideration related to business acquisition 0 (17,155)
Common stock repurchased (16,591) (31,989)
Dividends paid on common stock (6,910) (7,069)
Dividends paid on redeemable preferred stock (2,851) (2,859)
Net cash used in financing activities (4,106) (27,671)
Net increase in cash and cash equivalents and restricted cash 24,049 9,656
Effect of exchange rate on cash and cash equivalents and restricted cash 30 (38)
Cash and cash equivalents and restricted cash, beginning of period 292,408 241,421
Cash and cash equivalents and restricted cash, end of period 316,487 251,039
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 293,675 231,647
Restricted cash, end of period 22,812 19,392
Cash and cash equivalents and restricted cash, end of period 316,487 251,039
Supplementary cash flow information:    
Cash received for interest 4,936 3,730
Cash paid for interest 43,675 45,872
Cash received for taxes 658 322
Cash paid for taxes 5,738 2,786
Supplementary noncash activities:    
Prepaid insurance premiums financed through notes payable 6,510 7,167
Purchases of equipment in accounts payable and accrued expenses 9,558 13,553
Purchase of property and equipment under leases 44,044 41,104
Disposals of leases of property and equipment 11,376 12,219
Extinguishment of financial liability in a sale-leaseback transaction 42,430 0
Issuance of shares as payment of deferred consideration related to business acquisition $ 0 $ 22,319