Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.24.1.u1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (594) $ (2,527)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation and amortization 31,716 28,399
Deferred income taxes (10,075) (10,230)
Loss on disposal of assets and impairment charges 2,664 287
Foreign currency loss 27 34
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 664 592
Amortization of deferred income (1,946) (1,860)
Accretion of asset retirement obligation 616 491
Non-cash rent 3,484 2,798
Charges to allowance for credit losses 327 283
(Income) loss from equity investment (22) 36
Share-based compensation 3,329 4,069
Fair value adjustment of financial assets and liabilities (10,772) (4,228)
Other operating activities, net 624 329
Changes in assets and liabilities:    
Increase in trade receivables (24,304) (11,182)
Decrease (increase) in inventory 188 (2,845)
Decrease in other assets 5,095 3,545
Increase in accounts payable 21,347 5,940
Decrease in other current liabilities (4,152) (127)
(Decrease) increase in asset retirement obligation (55) 67
Increase in non-current liabilities 3,631 2,012
Net cash provided by operating activities 12,755 15,883
Cash flows from investing activities:    
Purchase of property and equipment (29,228) (23,380)
Proceeds from sale of property and equipment 2,039 208,436
Business acquisitions, net of cash 0 (338,342)
Prepayment for acquisition (1,000) 0
Loans to equity investment, net 14 0
Net cash used in investing activities (28,175) (153,286)
Cash flows from financing activities:    
Receipt of long-term debt, net 41,588 55,000
Repayment of debt (6,635) (5,592)
Principal payments on financing leases (1,135) (1,418)
Early settlement of deferred consideration related to business acquisition (17,155) 0
Proceeds from sale-leaseback 0 51,604
Common stock repurchased (31,921) (2,310)
Dividends paid on common stock (3,596) (3,609)
Dividends paid on redeemable preferred stock (1,414) (1,418)
Net cash (used in ) provided by financing activities (20,268) 92,257
Net decrease in cash and cash equivalents and restricted cash (35,688) (45,146)
Effect of exchange rate on cash and cash equivalents and restricted cash (19) (21)
Cash and cash equivalents and restricted cash, beginning of period 241,421 316,769
Cash and cash equivalents and restricted cash, end of period 205,714 271,602
Reconciliation of cash and cash equivalents and restricted cash    
Cash and cash equivalents, beginning of period 218,120 298,529
Restricted cash, beginning of period 23,301 18,240
Cash and cash equivalents, end of period 184,480 255,852
Restricted cash, end of period 21,234 15,750
Cash and cash equivalents and restricted cash, end of period 205,714 271,602
Supplementary cash flow information:    
Cash received for interest 1,650 2,197
Cash paid for interest 16,724 12,174
Cash received for taxes 268 212
Cash paid for taxes 648 125
Supplementary noncash activities:    
Prepaid insurance premiums financed through notes payable 3,073 6,224
Purchases of equipment in accounts payable and accrued expenses 11,775 11,577
Purchase of property and equipment under leases 10,586 826
Disposals of leases of property and equipment 9,100 2,476
Issuance of shares as payment of deferred consideration related to business acquisition 22,319 0
Deferred consideration related to business acquisition $ 0 $ 45,845