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
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 3,839 $ 7,426
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 64,541 68,489
Deferred income taxes (924) (441)
Loss on disposal of assets and impairment charges 3,991 4,079
Gain from sale-leaseback 0 (20,777)
Foreign currency gain (150) (61)
Amortization of deferred financing costs and debt discount 1,924 1,358
Gain from repurchase of Senior Notes (2,541) 0
Amortization of deferred income (9,044) (8,765)
Accretion of asset retirement obligation 1,171 1,234
Non-cash rent 4,697 6,410
Charges to allowance for credit losses 621 542
Income from equity investment (21) (47)
Share-based compensation 10,082 6,994
Fair value adjustment of financial assets and liabilities 1,382 (7,611)
Other operating activities, net 0 (212)
Changes in assets and liabilities:    
Increase in trade receivables (64,360) (17,055)
(Increase) decrease in inventory (17,768) 24,035
Increase in other assets (8,126) (3,596)
Increase (decrease) in accounts payable 41,201 (77)
Increase in other current liabilities 16,360 16,156
Decrease in asset retirement obligation (357) (343)
Increase in non-current liabilities 14,362 20,849
Net cash provided by operating activities 60,880 98,587
Cash flows from investing activities:    
Purchase of property and equipment (63,584) (72,739)
Proceeds from sale of property and equipment 2,690 2,276
Dividend received from equity investment 3,231 0
Loans to equity investment, net 0 31
Net cash used in investing activities (57,663) (70,432)
Cash flows from financing activities:    
Receipt of long-term debt, net 8,741 37,302
Repayment of long-term debt (219,357) (12,245)
Repurchase of long-term debt (35,099) 0
Principal payments on financing leases (10,028) (2,811)
Issuance of shares in APC IPO, net of underwriting discounts and commissions 210,426 0
Payment of APC IPO costs (3,651) 0
Common stock repurchased (4,503) (16,591)
Dividends paid to non-controlling interests (3,268) 0
Dividends paid on common stock (6,731) (6,910)
Dividends paid on redeemable preferred stock (2,851) (2,851)
Net cash used in financing activities (66,321) (4,106)
Net (decrease) increase in cash and cash equivalents and restricted cash (63,104) 24,049
Effect of exchange rate on cash and cash equivalents and restricted cash (42) 30
Cash and cash equivalents and restricted cash, beginning of period 323,714 292,408
Cash and cash equivalents and restricted cash, end of period 260,568 316,487
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 245,556 293,675
Restricted cash, end of period 15,012 22,812
Cash and cash equivalents and restricted cash, end of period 260,568 316,487
Supplementary cash flow information:    
Cash received for interest 4,456 4,936
Cash paid for interest 36,260 43,675
Cash paid for taxes, net of refunds 5,940 5,080
Supplementary noncash activities:    
Prepaid insurance premiums financed through notes payable 6,714 6,510
Purchases of equipment in accounts payable and accrued expenses 15,433 9,558
Purchase of property and equipment previously leased 7,017 0
Purchase of property and equipment under leases 44,694 44,044
Disposals of leases of property and equipment 1,869 11,376
Extinguishment of financial liability in a sale-leaseback transaction $ 0 $ 42,430