v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 21,231 $ 18,774
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation, amortization and accretion 82,572 76,343
Deferred tax expense 6,958 4,921
Gain on disposal of property and equipment and divestitures (7,868) (707)
Equity in losses of unconsolidated entities 88 353
Credit loss expense 1,222 1,327
Amortization and write off of debt issuance costs 1,403 244
Inventory adjustments 20 (433)
Equity-based compensation 6,679 12,560
Impairments and abandonments 2,625 91
Other operating items, net 1,153 967
Changes in operating assets and liabilities    
Accounts receivable (28,809) 31,426
Prepaid expenses and other assets 4,123 (958)
Accounts payable and accrued liabilities (13,872) (29,665)
Net cash provided by operating activities 77,525 115,243
Cash flows from investing activities    
Purchase of property and equipment (127,833) (82,876)
Purchase of equity-method investment (72,059)  
Acquisitions, net of cash received (17,205) (149,788)
Proceeds received from sales of property and equipment 9,603 8,545
Net cash used in investing activities (207,494) (224,119)
Cash flows from financing activities    
Borrowings from revolving line of credit 65,000 142,500
Payments on revolving line of credit (125,000) (52,500)
Borrowings from long-term debt 250,000  
Payments of finance lease obligations (313) (114)
Payment of debt issuance costs (7,867)  
Dividends and distributions paid (16,873) (14,521)
Payments under tax receivable agreements (77)  
Contribtions from noncontrolling interests 2,875  
Repurchase of common stock (6,577) (7,152)
Net cash provided by financing activities 161,168 68,213
Effect of exchange rate changes on cash 9 (3)
Net increase (decrease) in cash and cash equivalents 31,208 (40,666)
Cash and cash equivalents, beginning of period 19,978 57,083
Cash and cash equivalents, end of period 51,186 16,417
Supplemental cash flow disclosure:    
Cash paid for interest 10,152 3,150
Cash paid for income taxes, net 1,352 1,442
Supplemental disclosure of noncash investing activities:    
Property and equipment obtained by assuming liabilities 800  
Capital expenditures included in accounts payable and accrued liabilities $ 50,256 $ 38,885