v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net earnings (loss) $ 25,395 $ 17,656
Adjustments to reconcile net earnings (loss) to operating cash flows:    
Depreciation, depletion, and amortization 20,806 20,529
Provision for deferred income taxes 5,202 11,254
Asset impairments and other non-cash expenses 528 1,251
Gains on sale of assets (4,878) (11,032)
Investment and investment partnership gains and losses (30,604) (10,252)
Return on partnership investments 13,020 35,000
Changes in receivables, inventories and other assets (2,210) 559
Changes in accounts payable and accrued expenses 8,021 (7,023)
Net cash provided by operating activities 35,280 57,942
Investing activities    
Capital expenditures (13,632) (10,004)
Proceeds from property and equipment disposals 6,132 12,477
Purchases of interests in limited partnerships (63,530) (30,065)
Return of partnership investments 28,600 0
Purchases of investments (254,272) (31,479)
Sales of investments and redemptions of fixed maturity securities 58,336 31,910
Net cash used in investing activities (238,366) (27,161)
Financing activities    
Payments on line of credit (6,000) (53,000)
Proceeds from line of credit 1,250 27,000
Debt issuance costs (375) 0
Payments on note payable (3,938) 0
Proceeds from issuance of common stock 14,920 0
Principal payments on direct financing lease obligations (3,141) (2,778)
Net cash provided by (used in) financing activities 2,716 (28,778)
Effect of exchange rate changes on cash (18) 42
Increase (decrease) in cash, cash equivalents and restricted cash (200,388) 2,045
Cash, cash equivalents and restricted cash at beginning of year 269,493 31,432
Cash, cash equivalents and restricted cash at end of second quarter 69,105 33,477
Cash and cash equivalents 68,394 32,766
Restricted cash in other long-term assets 711 711
Cash, cash equivalents and restricted cash at end of second quarter $ 69,105 $ 33,477