v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income (loss) $ 84,041 $ 151,175
Adjustments to reconcile net income (loss) to net cash flow from operating activities:    
Depreciation and amortization 276,922 290,222
Amortization of intangible assets and contract liabilities, net 0 (8,366)
(Gain) loss on extinguishment of debt, net 17,603 0
(Gain) loss on sale of operating assets, net (89,858) (4,751)
Loss on impairment 42,270 0
Deferred income taxes 60,101 47,127
Amortization of share-based compensation 20,255 15,574
Other costs, net 898 (10,125)
Net changes in operating assets and liabilities 5,217 6,561
Net cash provided by (used in) operating activities 417,449 487,417
Cash flows from investing activities    
Capital expenditures (308,383) (230,117)
Proceeds from insurance claims 1,584 22,201
Proceeds from disposal of assets, net 206,400 16,190
Net cash provided by (used in) investing activities (100,399) (191,726)
Cash flows from financing activities    
Issuance of debt 800,000 0
Repayments of debt (850,000) 0
Debt extinguishment costs (40,727) 0
Debt issuance costs (17,418) 0
Warrants exercised 3,053 38
Share repurchases 0 (20,000)
Dividend payments (163,220) (160,921)
Withholding tax related to employee stock transactions (9,720) (9,447)
Finance lease payments (62,526) (12,187)
Net cash provided by (used in) financing activities (340,558) (202,517)
Net increase (decrease) in cash, cash equivalents, and restricted cash (23,508) 93,174
Cash, cash equivalents, and restricted cash, beginning of period 479,960 252,279
Cash, cash equivalents, and restricted cash, end of period $ 456,452 $ 345,453