v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 9,560 $ 3,875
Adjustments to reconcile net income to net cash (used in) provided by operating activities    
Depreciation, amortization and accretion 39,600 38,150
Deferred tax expense 2,486 1,129
Gain on disposal of property and equipment and divestitures (1,365) (325)
Equity in (earnings) losses of unconsolidated entities (95) 449
Credit loss expense 514 596
Amortization and write off of debt issuance costs 998 122
Inventory adjustments (40) (33)
Equity-based compensation 3,481 6,359
Impairments and abandonments 1,148 45
Other operating items, net 487 312
Changes in operating assets and liabilities    
Accounts receivable (57,117) 128
Prepaid expenses and other assets (8,666) (2,180)
Accounts payable and accrued liabilities 3,948 (16,498)
Net cash (used in) provided by operating activities (5,061) 32,129
Cash flows from investing activities    
Purchase of property and equipment (48,427) (33,763)
Purchase of equity-method investments (72,059)  
Acquisitions, net of cash received (13,980) (108,311)
Proceeds received from sales of property and equipment 1,944 5,166
Net cash used in investing activities (132,522) (136,908)
Cash flows from financing activities    
Borrowings from revolving line of credit 40,000 90,000
Payments on revolving line of credit (125,000) (15,000)
Borrowings from long-term debt 250,000  
Payments of finance lease obligations (89) (66)
Payment of debt issuance costs (7,352)  
Dividends and distributions paid (8,567) (7,487)
Payments under tax receivable agreements (77)  
Contributions from noncontrolling interests 2,875  
Repurchase of common stock (6,291) (6,996)
Net cash provided by financing activities 145,499 60,451
Effect of exchange rate changes on cash (2) (2)
Net increase (decrease) in cash and cash equivalents 7,914 (44,330)
Cash and cash equivalents, beginning of period 19,978 57,083
Cash and cash equivalents, end of period 27,892 12,753
Supplemental cash flow disclosure:    
Cash paid for interest 4,723 954
Cash paid (refunds) for income taxes, net 11 (33)
Supplemental disclosure of noncash investing activities:    
Capital expenditures included in accounts payable and accrued liabilities $ 62,370 $ 39,046