Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 22,744 $ 20,845 $ 34,566
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 134,451 132,414 127,597
Deferred income taxes 5,064 (12,796) (4,680)
Loss on disposal of assets and impairment charges 8,631 6,798 6,203
Gain from sale-leaseback (20,777) 0 0
Foreign currency (gain) loss (86) 35 29
Gain from issuance of shares as payment of deferred consideration related to business acquisition (see Note 4) 0 (2,681) 0
Gain from settlement related to business acquisition (see Note 4) 0 (6,356) 0
Amortization of deferred financing costs and debt discount 2,856 2,669 2,518
Amortization of deferred income (21,758) (14,477) (8,142)
Accretion of asset retirement obligation 2,529 2,532 2,399
Non-cash rent 12,132 14,335 14,168
Charges to allowance for credit losses 755 845 1,265
(Income) loss from equity investment (108) (124) 39
Share-based compensation 15,172 12,339 15,015
Fair value adjustment of financial assets and liabilities (9,695) (10,985) (10,785)
Other operating activities, net (981) 125 2,631
Changes in assets and liabilities:      
Decrease (increase) in trade receivables 7,746 38,058 (17,937)
Decrease (Increase) in inventory 40,627 22,689 (2,013)
(Increase) decrease in other assets (14,907) 13,893 (29,386)
Decrease in accounts payable (33,976) (24,169) (6,169)
Increase (decrease) in other current liabilities 8,280 (2,820) 990
Decrease in asset retirement obligation (604) (917) (23)
Increase in non-current liabilities 34,490 29,606 7,809
Net cash provided by operating activities 192,585 221,858 136,094
Cash flows from investing activities:      
Purchase of property and equipment (127,286) (113,914) (111,164)
Purchase of intangible assets (83) 0 (45)
Proceeds from sale of property and equipment 7,198 53,549 310,240
Business and asset acquisitions, net of cash (242) (54,549) (494,871)
Prepayment for acquisitions 0 0 (1,000)
Loans to equity investment, net 621 56 18
Net cash used in investing activities (119,792) (114,858) (296,822)
Cash flows from financing activities:      
Receipt of long-term debt, net 38,838 47,556 99,643
Repayment of debt (24,102) (26,357) (22,157)
Principal payments on financing leases (5,704) (4,940) (5,497)
Early settlement of deferred consideration related to business acquisition (see Note 4) 0 (17,155) 0
Proceeds from sale-leaseback 0 0 80,397
Payment of Additional Consideration (3,210) (3,354) (3,505)
Payment of Ares Put Option 0 0 (9,808)
Common stock repurchased (27,964) (31,989) (33,694)
Dividends paid on common stock (13,622) (14,015) (14,272)
Dividends paid on redeemable preferred stock (5,750) (5,750) (5,750)
Net cash (used in) provided by financing activities (41,514) (56,004) 85,357
Net increase (decrease) in cash and cash equivalents and restricted cash 31,279 50,996 (75,371)
Effect of exchange rate on cash and cash equivalents and restricted cash 27 (9) 23
Cash and cash equivalents and restricted cash, beginning of year 292,408 241,421 316,769
Cash and cash equivalents and restricted cash, end of year 323,714 292,408 241,421
Reconciliation of cash and cash equivalents and restricted cash      
Cash and cash equivalents, beginning of year 261,758 218,120 298,529
Restricted cash, beginning of year 30,650 23,301 18,240
Cash and cash equivalents, end of year 305,004 261,758 218,120
Restricted cash, end of year 18,710 30,650 23,301
Cash and cash equivalents and restricted cash, end of year 323,714 292,408 241,421
Supplementary cash flow information:      
Cash received for interest 10,750 9,485 7,944
Cash paid for interest 87,269 92,103 82,477
Cash paid for taxes, net of refunds 5,041 9,659 28,620
Supplementary noncash activities:      
Prepaid insurance premiums financed through notes payable 9,346 7,703 10,711
Purchases of equipment in accounts payable and accrued expenses 12,597 10,211 14,888
Purchase of property and equipment under leases 57,638 55,687 7,870
Disposals of leases of property and equipment 12,920 14,044 22,986
Extinguishment of financial liability in a sale-leaseback transaction 42,430 0 0
Issuance of shares as payment of deferred consideration related to business acquisition 0 22,319 0
Deferred consideration related to business acquisitions $ 0 $ 0 $ 47,000