Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 59,160 $ 34,823
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization expense 41,146 41,468
Losses (gains) on disposal of assets (5,651) 337
Earnings from unconsolidated affiliates (882) (2,070)
Deferred income taxes 12,048 (5,843)
Stock-based compensation expense 8,325 7,567
Amortization of deferred financing fees 2,521 1,511
Amortization of deferred contract costs 4,046 1,679
Increase (decrease) in cash resulting from changes in:    
Accounts receivable (2,865) (15,872)
Inventory, prepaid expenses and other assets (62,991) (23,001)
Accounts payable, accrued expenses and other liabilities 43,579 19,745
Net cash provided by operating activities 98,436 60,344
Cash flows from investing activities:    
Capital expenditures (83,677) (114,916)
Proceeds from asset dispositions 24,089 4,409
Net cash used in investing activities (59,588) (110,507)
Cash flows from financing activities:    
Proceeds from borrowings 5,831 56,997
Debt issuance costs (238) (2,200)
Repayments of debt (24,885) (7,253)
Exercise of stock options 4 0
Purchase of treasury stock (8,498) (3,926)
Net cash provided by (used in) financing activities (27,786) 43,618
Effect of exchange rate changes on cash, cash equivalents and restricted cash (6,489) 4,718
Net increase (decrease) in cash, cash equivalents and restricted cash 4,573 (1,827)
Cash, cash equivalents and restricted cash at beginning of period 251,281 183,662
Cash, cash equivalents and restricted cash at end of period 255,854 181,835
Cash paid during the period for:    
Interest 24,329 20,802
Income taxes, net $ 18,806 $ 13,328