Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 20,885 $ 23,143
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 101,433 98,425
Deferred income taxes 5,623 (3,660)
Loss on disposal of assets and impairment charges 5,486 5,137
Gain from sale-leaseback (20,777) 0
Foreign currency (gain) loss (76) 41
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 2,107 2,000
Amortization of deferred income (15,344) (10,126)
Accretion of asset retirement obligation 1,877 1,871
Non-cash rent 9,405 10,805
Charges to allowance for credit losses 819 733
Income from equity investment (95) (79)
Share-based compensation 10,878 8,262
Fair value adjustment of financial assets and liabilities (9,109) (10,763)
Other operating activities, net (191) 752
Changes in assets and liabilities:    
(Increase) decrease in trade receivables (17,330) 16,112
Decrease in inventory 28,218 17,427
(Increase) decrease in other assets (9,540) 13,909
Decrease in accounts payable (9,506) (6,137)
Increase in other current liabilities 16,542 17,844
Decrease in asset retirement obligation (604) (283)
Increase in non-current liabilities 27,308 22,754
Net cash provided by operating activities 148,009 199,130
Cash flows from investing activities:    
Purchase of property and equipment (97,641) (77,781)
Proceeds from sale of property and equipment 3,868 51,353
Business acquisitions, net of cash 0 (54,549)
Loans to equity investment, net 48 42
Net cash used in investing activities (93,725) (80,935)
Cash flows from financing activities:    
Receipt of long-term debt, net 37,302 47,556
Repayment of debt (18,624) (20,563)
Principal payments on financing leases (4,315) (3,580)
Early settlement of deferred consideration related to business acquisition 0 (17,155)
Common stock repurchased (20,773) (31,989)
Dividends paid on common stock (10,288) (10,542)
Dividends paid on redeemable preferred stock (4,301) (4,305)
Net cash used in financing activities (20,999) (40,578)
Net increase in cash and cash equivalents and restricted cash 33,285 77,617
Effect of exchange rate on cash and cash equivalents and restricted cash 36 (27)
Cash and cash equivalents and restricted cash, beginning of period 292,408 241,421
Cash and cash equivalents and restricted cash, end of period 325,729 319,011
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 306,932 291,697
Restricted cash, end of period 18,797 27,314
Cash and cash equivalents and restricted cash, end of period 325,729 319,011
Supplementary cash flow information:    
Cash received for interest 7,936 6,546
Cash paid for interest 59,919 63,548
Cash received for taxes 658 501
Cash paid for taxes 5,738 3,233
Supplementary noncash activities:    
Prepaid insurance premiums financed through notes payable 6,510 7,167
Purchases of equipment in accounts payable and accrued expenses 8,245 11,780
Purchase of property and equipment under leases 51,950 52,399
Disposals of leases of property and equipment 12,489 13,846
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