Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (5,593) $ (12,672)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 32,371 34,887
Deferred income taxes (5,476) (15,386)
Loss on disposal of assets and impairment charges 2,073 1,528
Foreign currency (gain) loss (6) 16
Amortization of deferred financing costs and debt discount 909 664
Amortization of deferred income (5,826) (4,990)
Accretion of asset retirement obligation 595 608
Non-cash rent 2,380 3,307
Charges to allowance for credit losses 282 217
Income from equity investment (19) (21)
Share-based compensation 3,981 3,336
Fair value adjustment of financial assets and liabilities 282 (7,059)
Other operating activities, net 0 20
Changes in assets and liabilities:    
Increase in trade receivables (73,287) (14,431)
(Increase) decrease in inventory (15,628) 10,575
Decrease in other assets 2,178 5,325
Increase in accounts payable 44,401 6,694
Increase in other current liabilities 25,091 17,370
Decrease in asset retirement obligation (246) (317)
Increase in non-current liabilities 10,208 13,731
Net cash provided by operating activities 18,670 43,402
Cash flows from investing activities:    
Purchase of property and equipment (30,279) (27,392)
Proceeds from sale of property and equipment 925 473
Loans to equity investment, net 0 15
Net cash used in investing activities (29,354) (26,904)
Cash flows from financing activities:    
Receipt of long-term debt, net 689 0
Repayment of long-term debt (214,451) (5,690)
Principal payments on financing leases (8,381) (1,380)
Issuance of shares in APC IPO, net of underwriting discounts and commissions 210,426 0
Payment of APC IPO costs (3,105) 0
Common stock repurchased (4,291) (7,382)
Dividends paid on common stock (3,366) (3,495)
Dividends paid on redeemable preferred stock (1,418) (1,418)
Net cash used in financing activities (23,897) (19,365)
Net decrease in cash and cash equivalents and restricted cash (34,581) (2,867)
Effect of exchange rate on cash and cash equivalents and restricted cash 11 (4)
Cash and cash equivalents and restricted cash, beginning of period 323,714 292,408
Cash and cash equivalents and restricted cash, end of period 289,144 289,537
Reconciliation of cash and cash equivalents and restricted cash    
Cash and cash equivalents, beginning of period 305,004 261,758
Restricted cash, beginning of period 18,710 30,650
Cash and cash equivalents, end of period 272,115 265,420
Restricted cash, end of period 17,029 24,117
Cash and cash equivalents and restricted cash, end of period 289,144 289,537
Supplementary cash flow information:    
Cash received for interest 2,381 2,364
Cash paid for interest 13,308 16,078
Cash paid for taxes, net of refunds 4 (292)
Supplementary noncash activities:    
Prepaid insurance premiums financed through notes payable 3,969 3,217
Purchases of equipment in accounts payable and accrued expenses 13,197 7,928
Purchase of property and equipment previously leased 7,017 0
Purchase of property and equipment under leases 12,752 1,235
Disposals of leases of property and equipment $ 1,826 $ 348