v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 100,052 $ 72,888
Adjustments to reconcile net income to net cash from operating activities    
Depreciation and amortization 63,677 47,161
Amortization of operating lease right-of-use assets 12,707 3,343
ARO accretion expense 1,680 960
Amortization of debt issuance costs 2,910 4,444
Deferred income taxes 3,248 845
Share of net earnings in equity method investee (1,246) (1,196)
Distributions from equity method investee 900 1,530
Long-term incentive compensation expense 6,628 5,358
(Gain) loss on non-cash items 4 0
Changes in operating assets and liabilities:    
Accounts receivable (15,600) 85,578
Other current assets and other assets (27,400) 1,864
Accounts payable and accrued liabilities 43,686 16,182
Current portion of deferred revenue (26,709) (28,218)
Net investments in sales-type leases 22,996 21,101
Operating lease assets and liabilities (11,513) (3,196)
Other long-term liabilities (1,776) 13,305
Net cash provided by operating activities 174,244 241,949
Cash flows from investing activities    
Net cash paid for Acquisition 0 (1,048,091)
Purchases of property and equipment (283,833) (77,408)
Net cash used in investing activities (283,833) (1,125,499)
Cash flows from financing activities    
Proceeds from issuance of Class A Common stock, net 0 201,904
Repurchase of Class A Common Stock (28,426) 0
Proceeds from issuance of long-term debt 0 800,000
Repayments of long-term debt (12,019) (175,172)
Repayments of long-term debt - related party (6,012) (4,768)
Payment of debt issuance costs 0 (19,376)
Principal payments under finance lease liabilities (11,392) (10,714)
Taxes withheld for long-term incentive compensation (3,073) (1,027)
Dividends paid (5,215) (3,382)
Distributions (20,723) (13,984)
Other financing activities 902 (433)
Net cash provided by (used in) financing activities (85,958) 773,048
Effect of exchange rate on cash, cash equivalents, and restricted cash 219 88
Net decrease in cash, cash equivalents and restricted cash (195,328) (110,414)
Cash, cash equivalents and restricted cash    
Beginning of period 556,518 554,495
End of period $ 361,190 $ 444,081