Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ 18,144 $ 20,885
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 97,303 101,433
Deferred income taxes 4,853 5,623
Loss on disposal of assets and impairment charges 4,159 5,486
Gain from sale-leaseback 0 (20,777)
Foreign currency gain (52) (76)
Amortization of deferred financing costs and debt discount 2,939 2,107
Gain from repurchase of Senior Notes (7,444) 0
Amortization of deferred income (14,006) (15,344)
Accretion of asset retirement obligation 1,868 1,877
Non-cash rent 6,991 9,405
Charges to allowance for credit losses 851 819
Income from equity investment (10) (95)
Share-based compensation 14,995 10,878
Fair value adjustment of financial assets and liabilities 917 (9,109)
Other operating activities, net 0 (191)
Changes in assets and liabilities:    
Increase in trade receivables (101,894) (17,330)
(Increase) decrease in inventory (31,938) 28,218
Increase in other assets (4,607) (9,540)
Increase (decrease) in accounts payable 56,209 (9,506)
Increase in other current liabilities 24,199 16,542
Decrease in asset retirement obligation (357) (604)
Increase in non-current liabilities 17,638 27,308
Net cash provided by operating activities 90,758 148,009
Cash flows from investing activities:    
Purchase of property and equipment (104,945) (97,641)
Proceeds from sale of property and equipment 6,048 3,868
Government grant proceeds 3,958 0
Dividend received from equity investment 3,231 0
Loans to equity investment, net 0 48
Net cash used in investing activities (91,708) (93,725)
Cash flows from financing activities:    
Receipt of long-term debt, net 24,431 37,302
Repayment of long-term debt (225,064) (18,624)
Repurchase of long-term debt (91,858) 0
Principal payments on financing leases (11,608) (4,315)
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 (4,554) (20,773)
Dividends paid to non-controlling interests (9,553) 0
Dividends paid on common stock (10,096) (10,288)
Dividends paid on redeemable preferred stock (4,301) (4,301)
Net cash used in financing activities (125,828) (20,999)
Net (decrease) increase in cash and cash equivalents and restricted cash (126,778) 33,285
Effect of exchange rate on cash and cash equivalents and restricted cash (137) 36
Cash and cash equivalents and restricted cash, beginning of period 323,714 292,408
Cash and cash equivalents and restricted cash, end of period 196,799 325,729
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 183,804 306,932
Restricted cash, end of period 12,995 18,797
Cash and cash equivalents and restricted cash, end of period 196,799 325,729
Supplementary cash flow information:    
Cash received for interest 6,059 7,936
Cash paid for interest 48,240 59,919
Cash paid for taxes, net of refunds 6,188 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 21,666 8,245
Purchase of property and equipment previously leased 7,017 0
Purchase of property and equipment under leases 50,085 51,950
Disposals of leases of property and equipment 4,298 12,489
Extinguishment of financial liability in a sale-leaseback transaction $ 0 $ 42,430