v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 23,827 $ 10,391
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,779 36,035
Share-based compensation expense 2,502 1,856
(Gain) loss on disposal of assets (373) (363)
Non-cash interest expense (income) (192) (143)
Deferred tax expense (benefit) 1,132 (1,239)
Allowance for doubtful receivables and unbilled revenue 480 (16)
Charges on obsolete service inventories 853 920
Impairments and other charges 1,118
Other operating activities, net 25 38
Changes in operating assets and liabilities:    
(Increase) decrease in accounts receivable (50,392) (27,524)
(Increase) decrease in unbilled revenue (50,154) (18,339)
(Increase) decrease in retention withholdings 6,910 8,834
(Increase) decrease in inventories (2,224) (5,567)
(Increase) decrease in prepaid assets 3,531 746
(Increase) decrease in other current assets 429 (2,646)
(Increase) decrease in other long-term assets and liabilities (1,934) 2,137
Increase (decrease) in accounts payable and accrued expenses 61,419 15,094
Increase (decrease) in other current liabilities 1,127 (847)
Net cash provided by operating activities 30,745 20,485
Cash flows from investing activities:    
Capital expenditures (36,004) (30,124)
IPM investments (Note 2)
Proceeds from disposal of assets 402 637
Other investing activities (833) (2,000)
Net cash used in investing activities (36,435) (31,487)
Cash flows from financing activities:    
Proceeds from long-term debt
Repayments of long-term debt (16,125) (17,537)
Proceeds from short-term borrowings 19,587 26,841
Repayments of short-term borrowings (26,498) (26,252)
Payments on capital leases (1,000) (710)
Payments on seller-provided financing for capital expenditures (1,265) (601)
Other financing activities, net
Net cash used in financing activities (25,301) (18,259)
Effect of exchange rate changes on cash
Net increase (decrease) in cash, cash equivalents, and restricted cash (30,991) (29,261)
Cash and cash equivalents, beginning of period 132,696 107,956
Cash, cash equivalents, and restricted cash, end of period (Note 2) $ 101,705 $ 78,695