Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:          
Net income $ 14,063 $ 14,479 $ 13,469 $ 11,952  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation and amortization 33,577 32,837 65,293 61,236  
Deferred income taxes     (5,929) (14,115)  
Loss on disposal of assets and impairment charges     3,385 3,278  
Foreign currency loss     57 58  
Gain from issuance of shares as payment of deferred consideration related to business acquisition (see Note 4)     (2,681) 0  
Gain from settlement related to business acquisition (see Note 4)     (6,356) 0  
Amortization of deferred financing costs and debt discount     1,332 1,213  
Amortization of deferred income     (6,369) (3,929)  
Accretion of asset retirement obligation     1,243 1,118  
Non-cash rent     7,171 6,558  
Charges to allowance for credit losses     641 573  
(Income) loss from equity investment (28) 27 (50) 63  
Share-based compensation     6,113 8,624  
Fair value adjustment of financial assets and liabilities     (12,206) (5,248)  
Other operating activities, net     686 976  
Changes in assets and liabilities:          
Increase in trade receivables     (21,484) (18,173)  
Decrease (Increase) in inventory     2,772 (8,208)  
Decrease (Increase) in other assets     5,843 (10,965)  
Increase in accounts payable     26,477 14,580  
Decrease in other current liabilities     (5,924) (7,651)  
Decrease (Increase) in asset retirement obligation     (120) 46  
Increase in non-current liabilities     16,611 4,000  
Net cash provided by operating activities     89,974 45,986  
Cash flows from investing activities:          
Purchase of property and equipment     (48,512) (50,038)  
Purchase of intangible assets     0 (35)  
Proceeds from sale of property and equipment     50,295 296,485  
Business acquisitions, net of cash     (54,458) (481,636)  
Loans to equity investment, net     28 0  
Net cash used in investing activities     (52,647) (235,224)  
Cash flows from financing activities:          
Receipt of long-term debt, net     47,556 74,233  
Repayment of debt     (13,849) (10,511)  
Principal payments on financing leases     (2,306) (2,912)  
Early settlement of deferred consideration related to business acquisition     (17,155) 0  
Proceeds from sale-leaseback     0 80,397  
Payment of Ares Put Option     0 (9,808)  
Common stock repurchased     (31,989) (13,563)  
Dividends paid on common stock     (7,069) (7,216)  
Dividends paid on redeemable preferred stock     (2,859) (2,852)  
Net cash (used in ) provided by financing activities     (27,671) 107,768  
Net increase (decrease) in cash and cash equivalents and restricted cash     9,656 (81,470)  
Effect of exchange rate on cash and cash equivalents and restricted cash     (38) (21)  
Cash and cash equivalents and restricted cash, beginning of period     241,421 316,769 $ 316,769
Cash and cash equivalents and restricted cash, end of period 251,039 235,278 251,039 235,278 241,421
Reconciliation of cash and cash equivalents and restricted cash          
Cash and cash equivalents, beginning of period     218,120 298,529 298,529
Restricted cash, beginning of period     23,301 18,240 18,240
Cash and cash equivalents, end of period 231,647 220,142 231,647 220,142 218,120
Restricted cash, end of period 19,392 15,136 19,392 15,136 23,301
Cash and cash equivalents and restricted cash, end of period $ 251,039 $ 235,278 251,039 235,278 $ 241,421
Supplementary cash flow information:          
Cash received for interest     3,730 4,274  
Cash paid for interest     45,872 38,402  
Cash received for taxes     322 512  
Cash paid for taxes     2,786 20,845  
Supplementary noncash activities:          
Prepaid insurance premiums financed through notes payable     7,167 5,619  
Purchases of equipment in accounts payable and accrued expenses     13,553 9,367  
Purchase of property and equipment under leases     41,104 3,034  
Disposals of leases of property and equipment     12,219 2,669  
Issuance of shares as payment of deferred consideration related to business acquisition     22,319 0  
Deferred consideration related to business acquisition     $ 0 $ 45,845