v3.23.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 5,174 $ 58,456
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 90,327 85,802
Stock-based compensation expense 908 619
Amortization of debt issuance costs 11,071 5,212
Non-cash lease expense 1,786 1,365
Provision for credit losses 2 85
Inventory reserve 250 250
Gain on sale of fixed assets (721) (7)
Unrealized loss (gain) on derivatives 21,529 (32,822)
Deferred tax provision 761 14,974
Changes in operating assets and liabilities:    
Accounts receivable, net (21,705) (11,367)
Inventories (4,907) (5,302)
Contract assets (958) (3,051)
Prepaid expenses and other current assets (10,681) (314)
Accounts payable 10,954 6,436
Accrued and other liabilities (14,971) 854
Contract liabilities 29,149 6,457
Net cash provided by operating activities 117,968 127,647
Cash flows from investing activities:    
Purchase of capital assets (94,034) (145,952)
Proceeds from sale of capital assets 1,055 13
Investment in fund (24) (24)
Other 10 13
Net cash used in investing activities (92,993) (145,950)
Cash flows from financing activities:    
Borrowings on debt instruments 499,279 1,221,161
Payments on debt instruments (428,812) (345,465)
Payment of debt issuance cost (32,202) (27,561)
Distributions to parent (42,300) (838,000)
Net cash (used in) provided by financing activities (4,035) 10,135
Net increase (decrease) in cash and cash equivalents 20,940 (8,168)
Cash and cash equivalents - beginning of period 20,431 28,795
Cash and cash equivalents - end of period 41,371 20,627
Supplemental cash disclosures:    
Cash paid for interest 116,370 52,204
Cash paid for taxes 5,726 1,836
Supplemental disclosure of non-cash investing activities:    
Change in accrued capital expenditures $ 9,946 $ 1,931

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