v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net income $ 142,206 $ 89,515
Adjustments to reconcile net income to net cash provided by operating activities:     
Depreciation 16,844 13,901
Amortization of intangible assets 3,247 116
Deferred income taxes (3,041) 2,305
Provision for credit losses, net of reversals 372 (1,729)
Amortization of debt issuance costs 788 788
Stock-based compensation costs 5,256 2,870
Net unrealized gains on investments (679) (300)
Gain on sale of assets (3,545) (3,682)
Equity in earnings of unconsolidated affiliates, net of distributions 10,098 909
Changes in operating assets and liabilities, net of effects of acquisitions:    
Receivables (127,888) (91,194)
Contract assets (26,865) (77,453)
Inventories, net (10,280) (4,302)
Other current assets 20,133 1,577
Accounts payable 43,789 60,547
Contract liabilities, net 98,897 23,050
Other current liabilities 24,006 14,268
Other noncurrent changes 3,472 1,284
Net cash provided by operating activities 196,810 32,470
Investing activities:    
Capital expenditures (35,600) (31,623)
Net proceeds from sale or disposition of property, plant and equipment 5,818 5,635
Acquisition, net of cash acquired (147,642) 0
Proceeds from insurance contracts 0 2,174
Investments (2,745) (1,872)
Net cash used in investing activities (180,169) (25,686)
Financing activities:    
Repayment of long-term debt (7,500) (7,500)
Tax withholding on stock-based compensation (2,971) (588)
Net cash used in financing activities (10,471) (8,088)
Increase (decrease) in cash, cash equivalents and restricted cash 6,170 (1,304)
Cash, cash equivalents and restricted cash - beginning of period 170,500 86,012
Cash, cash equivalents and restricted cash - end of period 176,670 84,708
Cash paid for amounts included in the measurement of lease liabilities:    
Interest paid 8,522 10,143
Income taxes paid, net 40,104 29,698
Purchases of property, plant and equipment included in Accounts payable $ 202 $ 868