Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net lncome $ 59,118 $ 46,496
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 75,050 71,546
Deferred income taxes 20,728 3,910
Loss on disposal of assets and impairment charges 3,389 1,898
Foreign currency loss (gain) 241 (1,176)
Amortization of deferred financing costs, debt discount and premium 1,894 1,423
Amortization of deferred income (7,269) (7,102)
Accretion of asset retirement obligation 1,259 1,266
Non-cash rent 5,714 4,773
Charges to allowance for credit losses 473 450
Loss (income) from equity investment 7 (105)
Share-based compensation 9,027 4,127
Fair value adjustment of financial assets and liabilities (3,848) 9,237
Other operating activities, net 855 727
Changes in assets and liabilities:    
Increase in trade receivables (59,867) (19,692)
Increase in inventory (14,570) (17,733)
Increase in other assets (7,367) (10,048)
Increase in accounts payable 37,493 25,161
Increase in other current liabilities 7,631 3,493
Increase (decrease) in asset retirement obligation (94) (128)
Increase in non-current liabilities 9,899 1,024
Net cash provided by operating activities 139,763 119,547
Cash flows from investing activities:    
Purchase of property and equipment (72,902) (48,123)
Purchase of intangible assets (176) (222)
Proceeds from sale of property and equipment 140,380 36,685
Business acquisitions, net of cash (191,203) (93,527)
Decrease in investments, net 58,934 0
Repayment of loans to equity investment 174 0
Net cash used in investing activities (64,793) (105,187)
Cash flows from financing activities:    
Receipt of long-term debt, net 51,450 41,366
Repayment of debt (42,372) (105,291)
Principal payments on financing leases (5,014) (6,050)
Proceeds from failed sale-leaseback 0 43,569
Payment of additional consideration (2,085) 0
Payment of merger transaction issuance costs 0 (4,764)
Common stock repurchased (40,042) 0
Dividends paid on common stock (7,291) 0
Dividends paid on redeemable preferred stock (4,301) (4,442)
Distributions to non-controlling interests (180) (180)
Net cash used in financing activities (49,835) (35,792)
Net increase (decrease) in cash and cash equivalents and restricted cash 25,135 (21,432)
Effect of exchange rate on cash and cash equivalents and restricted cash (109) (1,440)
Cash and cash equivalents and restricted cash, beginning of period 272,543 312,977
Cash and cash equivalents and restricted cash, end of period 297,569 290,105
Reconciliation of cash and cash equivalents and restricted cash    
Cash and cash equivalents, beginning of period 252,141 293,666
Restricted cash, beginning of period 20,402 16,529
Restricted cash with respect to bonds, beginning of period 0 2,782
Cash and cash equivalents, end of period 283,375 275,185
Restricted cash, end of period 14,194 14,920
Supplementary cash flow information:    
Cash received for interest 344 403
Cash paid for interest 36,109 42,549
Cash received for taxes 211 176
Cash paid for taxes 5,069 12,246
Supplementary noncash activities:    
Prepaid insurance premiums financed through notes payable 5,523 4,900
Purchases of equipment in accounts payable and accrued expenses 7,615 4,345
Purchase of property and equipment under leases 15,041 26,333
Disposals of leases of property and equipment 18,605 4,121
Issuance of shares $ 0 $ 3,000