v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:              
Net income $ 39,984 $ 31,036 $ 6,713 $ 30,232 $ 71,020 $ 36,945  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization 66,100   69,500   136,664 116,407  
Equity compensation expense         13,269 8,159  
Amortization of debt issuance costs 3,100   2,300   6,267 4,946  
Non-cash lease expense         6,265 1,648  
Provision for credit losses         995 4,589 $ 4,664
Inventory reserve         123 476  
Loss (gain) on sale of assets 6,606   (1,173)   15,817 (1,173)  
Change in fair value of derivatives         0 (14,293)  
Amortization of interest rate swap         4,147 0  
Deferred tax provision         17,134 7,104  
Changes in operating assets and liabilities, exclusive of effects of business acquisition:              
Accounts receivable         27,986 (45,933)  
Inventories         2,214 (3,147)  
Contract assets         2,301 12,000  
Prepaid expenses and other current assets         1,380 4,671  
Accounts payable         (13,162) 21,983  
Accrued and other liabilities         (13,334) 11,871  
Contract liabilities         11,317 6,308  
Other assets         1,097 63  
Net cash provided by operating activities         291,500 172,624  
Cash flows from investing activities:              
Net cash acquired in acquisition of CSI Compressco LP         0 9,458  
Purchase of property, plant and equipment         (160,171) (177,186)  
Proceeds from sale of assets         17,606 411  
Other         0 (35)  
Net cash used for investing activities         (142,565) (167,352)  
Cash flows from financing activities:              
Borrowings on debt instruments         686,921 1,945,775  
Payments on debt instruments         (730,078) (1,867,851)  
Principal payments on other borrowings         (3,455) (1,843)  
Payment of debt issuance cost         0 (16,346)  
Principal payments on finance leases         (1,540) (408)  
Offering costs         0 (1,162)  
Dividends paid to stockholders         (76,593) (62,393)  
Repurchase of common shares         (19,956) 0  
Cash paid for shares withheld to cover taxes         (3,286) (294)  
Net effect on deferred taxes and taxes payable related to the vesting of restricted stock         424 0  
Distributions to noncontrolling interest         (694) (2,460)  
Net cash used for financing activities         (148,257) (6,982)  
Net increase (decrease) in cash and cash equivalents         678 (1,710)  
Cash and cash equivalents - beginning of period   $ 4,750   $ 5,562 4,750 5,562 5,562
Cash and cash equivalents - end of period $ 5,428   $ 3,852   5,428 3,852 $ 4,750
Supplemental cash disclosures:              
Cash paid for interest         87,075 40,861  
Cash paid for taxes         5,393 9,225  
Supplemental disclosure of non-cash investing activities:              
(Increase) decrease in accrued capital expenditures         (3,401) 2,702  
Supplemental disclosure of non-cash financing activities:              
Fair value changes in interest rate swap         10,234 0  
Issuance of common shares         3 188,099  
Issuance of preferred shares and noncontrolling interest         $ 0 $ 154,186  

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