Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net lncome $ 10,911 $ 19,652
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 49,515 33,885
Deferred income taxes 2,109 (950)
Loss on disposal of assets and impairment charges 975 4,382
Foreign currency gain (1,143) (235)
Amortization of deferred financing costs, debt discount and premium 621 1,167
Amortization of deferred income (4,411) (4,328)
Accretion of asset retirement obligation 834 665
Non-cash rent 3,349 3,548
Charges to allowance for credit losses 322 68
(Income) loss from equity investment (20) 411
Share-based compensation 2,514 255
Fair value adjustment of financial assets and liabilities 9,833 0
Other operating activities, net 532 (204)
Changes in assets and liabilities:    
(Increase) decrease in trade receivables (21,102) 819
(Increase) decrease in inventory (11,732) 11,895
(Increase) decrease in other assets (4,762) 4,230
Increase in accounts payable 26,960 19,527
(Decrease) increase in other current liabilities (6,933) 5,237
Decrease in asset retirement obligation (113) (116)
Increase in non-current liabilities 758 2,000
Net cash provided by operating activities 59,017 101,908
Cash flows from investing activities:    
Purchase of property and equipment (32,638) (20,481)
Purchase of intangible assets (175) (30)
Proceeds from sale of property and equipment 36,059 356
Business acquisitions, net of cash (93,527) (320)
Loans to equity investment 0 (189)
Net cash used in investing activities (90,281) (20,664)
Cash flows from financing activities:    
Lines of credit, net 0 (83,041)
Repayment of related-party loans 0 (4,517)
Buyback Of Long Term Debt 0 (1,995)
Receipt of long-term debt, net 35,056 156,535
Repayment of debt (102,074) (54,240)
Principal payments on financing leases (4,013) (4,151)
Proceeds from failed sale-leaseback 43,569 0
Proceeds from issuance of rights, net 0 11,332
Investment of non-controlling interest in subsidiary 0 19,325
Payment of Merger Transaction issuance costs (4,764) 0
Dividends paid on redeemable preferred stock (2,993) 0
Distributions to non-controlling interests (120) (4,734)
Net cash (used in) provided by financing activities (35,339) 34,514
Effect of exchange rate on cash and cash equivalents and restricted cash (1,438) (15)
Net (decrease) increase in cash and cash equivalents and restricted cash (66,603) 115,758
Cash and cash equivalents and restricted cash, beginning of period 312,977 52,763
Cash and cash equivalents and restricted cash, end of period 244,936 168,506
Reconciliation of cash and cash equivalents and restricted cash    
Cash and cash equivalents, beginning of period 293,666 32,117
Restricted cash, beginning of period 16,529 14,423
Restricted cash with respect to bonds, beginning of period 2,782 6,223
Cash and cash equivalents, end of period 229,399 148,621
Restricted cash, end of period 15,537 17,991
Restricted cash with respect to bonds, end of period 0 1,894
Supplementary cash flow information:    
Cash received for interest 99 694
Cash paid for interest 30,148 18,801
Cash received for taxes 176 860
Cash paid for taxes 7,797 583
Supplementary noncash activities:    
Prepaid insurance premiums financed through notes payable 4,900 5,034
Purchases of equipment in accounts payable and accrued expenses 4,239 2,957
Purchase of property and equipment under leases 14,564 3,449
Disposals of leases of property and equipment 3,207 1,467
Issuance of shares 3,000 0
Receipt of related-party receivable payment offset by related-party loan payments $ 0 $ 7,133