Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:      
Sale and Leaseback Transaction, Gain (Loss), Net $ 59,427 $ 30,639 $ (47,162)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 97,194 74,396 62,404
Deferred income taxes 4,848 (4,747) 4,299
gain on bargain purchase 0 0 406
Loss (gain) on disposal of assets and impairment charges 1,384 6,060 (1,291)
Foreign currency (gain) loss (1,320) 6,754 10,158
Amortization of deferred financing costs, debt discount and premium 9,304 2,236 522
Amortization of deferred income (10,327) (7,650) (8,848)
Accretion of asset retirement obligation 1,705 1,359 1,549
Non-cash rent 6,359 7,051 7,582
Charges to allowance for credit losses 601 260 91
Income (loss) from equity investment (186) 1,269 507
Share-based compensation 5,804 1,891 516
Fair value adjustment of financial assets and liabilities 3,821 (1,014) 0
Other operating activities, net 677 115 0
Changes in assets and liabilities:      
Increase in trade receivables (16,003) (24,010) (1,692)
Decrease (increase) in inventory (21,816) 6,618 (7,302)
Decrease (increase) in other current assets (5,421) (7,864) 7,212
Increase in accounts payable 16,813 26,893 8,830
Increase in other current liabilities 7,867 46,303 5,064
Decrease in asset retirement obligation (130) (393) (450)
Increase in non-current liabilities (1,410) 7,676 1,714
Net cash provided by operating activities 159,191 173,842 43,297
Cash flows from investing activities:      
Purchase of property and equipment (226,205) (44,646) (58,261)
Purchase of intangible assets (246) (30) 0
Proceeds from sale of property and equipment 284,854 1,302 18,982
Business acquisitions, net of cash (203,070) (363,988) (33,587)
Purchase of investments (27,110) 0 0
Loans to equity investment 0 (189) (174)
Net cash used in investing activities (171,777) (407,551) (73,040)
Cash flows from financing activities:      
Lines of credit, net 0 (83,515) 34,893
Repayment of related-party loans 0 (4,517) (850)
Buyback of long-term debt 0 (1,995) 0
Receipt of long term debt, net 484,089 570,207 50,934
Repayment of debt (531,834) (58,792) (18,079)
Payment of Provision - Pension Fund 0 0 (17,500)
Principal payments on financing leases (8,094) (8,116) (9,051)
Proceeds from failed sale-leaseback 44,188 0 0
Proceeds from issuance of rights, net 0 11,332 0
Purchase of non-controlling interest in GPMP 0 (99,048) 0
Investment of non-controlling interest in subsidiary 0 19,325 0
Payment of contingent consideration (3,828) 0 0
Payment of Merger Transaction issuance costs (4,773) 0 0
Issuance of shares in Merger Transaction 0 57,997 0
Issuance of redeemable preferred stock, net 0 96,880 0
Dividends paid on redeemable preferred stock (5,892) 0 0
Distributions to non-controlling interests (240) (8,710) (8,654)
Net cash provided by financing activities (26,384) 491,048 31,693
Effect of exchange rate on cash and cash equivalents and restricted cash 1,464 2,875 1,263
Net increase in cash and cash equivalents and restricted cash (38,970) 257,339 1,950
Cash and cash equivalents and restricted cash, beginning of year 312,977 52,763 49,550
Cash and cash equivalents and restricted cash, end of year 272,543 312,977 52,763
Cash and cash equivalents, beginning of year 293,666 32,117 29,891
Restricted cash, beginning of year 16,529 14,423 13,749
Restricted cash with respect to bonds, beginning of year 2,782 6,223 5,910
Cash and cash equivalents, end of year 252,141 293,666 32,117
Restricted cash, end of year 20,402 16,529 14,423
Restricted cash with respect to bonds, end of year 0 2,782 6,223
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 272,543 312,977 52,763
Supplementary cash flow information:      
Cash received for interest 428 1,323 1,809
Cash paid for interest 51,495 40,026 30,622
Cash received for taxes 226 1,856 3,445
Cash paid for taxes 14,912 1,163 2,784
Supplementary noncash activities:      
Prepaid insurance premiums financed through notes payable 8,210 7,224 2,941
Purchases of equipment in accounts payable and accrued expenses 7,569 4,805 5,017
Purchase of property and equipment under leases 23,730 29,625 16,893
Disposals of leases of property and equipment 4,465 7,593 2,129
Issuance of shares 3,000 0 0
Receipt of related-party receivable payment offset by related-party loan payments 0 7,133 0
Ares Put Option 0 9,201 0
Payment to the pension fund by use of funds held in the indemnification escrow account. $ 0 $ 0 $ 1,500