v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 81,588 $ 50,334 $ 20,066
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation and amortization 276,185 260,272 182,869
Long-lived asset impairment 6,344 9,921 0
Equity compensation expense 24,529 17,658 5,914
Amortization of debt issuance costs 12,694 11,969 13,556
Non-cash lease expense 8,416 4,730 4,465
Provision for credit losses 1,032 4,664 7,101
Inventory reserve 124 559 500
Loss (gain) on sale of assets 61,566 29,612 (777)
Loss on discontinuation of hedge 9,398 0 0
Amortization of interest rate swap 5,152 0 0
Change in fair value of derivatives 0 1,234 42,890
Deferred tax provision 25,663 15,429 7,863
Loss on extinguishment of debt 0 0 4,359
Changes in operating assets and liabilities, exclusive of effects of business acquisition:      
Accounts receivable 43,757 (102,887) (22,742)
Inventories 1,070 (1,336) (4,583)
Contract assets 2,385 9,849 (13,869)
Prepaid expenses and other current assets (8,525) 4,434 (833)
Accounts payable 5,167 4,967 10,166
Accrued and other liabilities 17,172 (2,097) 2,781
Contract liabilities 22,554 9,366 6,600
Other assets 3,469 (691) 0
Net cash provided by operating activities 599,740 327,987 266,326
Cash flows from investing activities:      
Net cash acquired in acquisition of CSI Compressco LP 0 9,458 0
Purchase of property, plant and equipment (315,472) (336,956) (219,795)
Proceeds from sale of assets 30,182 35,030 1,449
Other 0 0 (75)
Net cash used for investing activities (285,290) (292,468) (218,421)
Cash flows from financing activities:      
Borrowings on debt instruments 2,857,499 2,642,370 1,020,102
Payments on debt instruments (2,863,679) (2,475,572) (1,243,981)
Principal payments on other borrowings (5,344) (5,634) 0
Payment of debt issuance cost (33,173) (16,271) (32,768)
Principal payments on finance leases (2,455) (2,421) 0
Proceeds from initial public offering, net of underwriter discounts 0 0 277,840
Offering costs 0 (1,162) (10,039)
Loss on extinguishment of debt 0 0 (1,835)
Dividends paid to stockholders (159,557) (133,886) (29,793)
Repurchase of common shares (103,968) (40,000) 0
Cash paid for shares withheld to cover taxes (6,362) (2,766) 0
Net effect on deferred taxes and taxes payable related to the vesting of restricted stock 2,329 4,540 0
Distribution to parent 0 0 (42,300)
Distributions to noncontrolling interest (1,311) (5,529) 0
Net cash used for financing activities (316,021) (36,331) (62,774)
Net decrease in cash and cash equivalents (1,571) (812) (14,869)
Cash and cash equivalents - beginning of period 4,750 5,562 20,431
Cash and cash equivalents - end of period 3,179 4,750 5,562
Supplemental cash disclosures:      
Cash paid for interest 168,716 147,144 216,648
Cash paid for taxes 5,939 14,662 9,762
Supplemental disclosure of non-cash investing activities:      
Increase in accrued capital expenditures (19,581) (8,125) (1,682)
Purchase of property, plant and equipment through exchange of lease ROU asset 0 0 3,227
Supplemental disclosure of non-cash financing activities:      
Fair value changes in interest rate swap 9,732 0 0
Issuance of common shares 11 188,167 0
Issuance of preferred shares and noncontrolling interest 0 154,118 0
Non-cash debt novation $ 0 $ 0 $ (689,829)

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