v3.25.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities    
Net income $ 72,888 $ 61,417
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization 47,161 53,310
Amortization of operating lease right-of-use assets 3,343 860
ARO accretion expense 960 918
Amortization of debt issuance costs 4,444 1,715
Deferred income taxes 845 2,566
Share of net earnings in equity method investee (1,196) (1,123)
Distributions from equity method investee 1,530 0
Long-term incentive compensation expense 5,358 3,297
(Gain) loss on non-cash items 0 (44)
Changes in operating assets and liabilities:    
Accounts receivable 85,578 51,511
Other current assets and other assets 1,864 (10,892)
Accounts payable and accrued liabilities 16,182 (23,935)
Current portion of deferred revenue (28,218) 2,331
Net investments in sales-type leases 21,101 8,004
Operating lease assets and liabilities (3,196) (871)
Other long-term liabilities 13,305 5,976
Net cash provided by operating activities 241,949 155,040
Cash flows from investing activities    
Net cash paid for Acquisition (1,048,091) 0
Purchases of property and equipment (77,408) (38,268)
Net cash used in investing activities (1,125,499) (38,268)
Cash flows from financing activities    
Proceeds from issuance of Class A Common stock, net 201,904 0
Repurchase of Class A Common Stock 0 (20,324)
Proceeds from issuance of long-term debt 800,000 0
Repayments of long-term debt (175,172) (20,627)
Repayments of long-term debt - related party (4,768) (4,455)
Payment of debt issuance costs (19,376) 0
Principal payments under finance lease liabilities (10,714) (10,081)
Taxes withheld for long-term incentive compensation (1,027) (253)
Dividends paid (3,382) (1,278)
Distributions (13,984) (6,541)
Other financing activities (433) 477
Net cash provided by (used in) financing activities 773,048 (63,082)
Effect of exchange rate on cash, cash equivalents, and restricted cash 88 (6)
Net increase in cash, cash equivalents and restricted cash (110,414) 53,684
Cash, cash equivalents and restricted cash    
Beginning of period 554,495 572,458
End of period $ 444,081 $ 626,142